Reading International Files 8-K on Financials and Agreements

TL;DR

RDI filed an 8-K on March 27th detailing financials and a new material agreement.

AI Summary

Reading International, Inc. filed an 8-K on March 27, 2024, reporting on the results of operations and financial condition, and the entry into a material definitive agreement. The filing also includes financial statements and exhibits. The company's principal executive offices are located at 189 Second Avenue, Suite 2S, New York, New York 10003.

Why It Matters

This 8-K filing provides crucial updates on Reading International's financial performance and any significant new contracts or deals, which can impact investor decisions.

Risk Assessment

Risk Level: medium — The filing concerns financial results and material agreements, which inherently carry financial and operational risks for the company and its investors.

Key Players & Entities

• Reading International, Inc. (company) — Registrant
• March 27, 2024 (date) — Date of earliest event reported
• Nevada (jurisdiction) — State of Incorporation
• 189 Second Avenue, Suite 2S, New York, New York 10003 (address) — Address of Principal Executive Offices

FAQ

Key Financial Figures

• $0.01 — hich registered Class A Common Stock, $0.01 par value RDI The NASDAQ Stock Mark
• $275,000 — cludes a mandatory principal paydown of $275,000 on the date of the Amendment, (ii) elim
• $34.484 million — urrent portion" of the Balance Sheet is $34.484 million and the "Debt – long-term portion" is $
• $146.605 million — n and the "Debt – long-term portion" is $146.605 million. A copy of the corrected earnings relea

Filing Documents

• rdi-20240327x8k.htm (8-K) — 72KB
• rdi-20240327xex99_1.htm (EX-99.1) — 527KB
• rdi-20240327xex99_2.htm (EX-99.2) — 537KB
• rdi-20240327xex99_1g001.jpg (GRAPHIC) — 4KB
• rdi-20240327xex99_2g001.jpg (GRAPHIC) — 4KB
• 0000716634-24-000012.txt ( ) — 1355KB
• rdi-20240327.xsd (EX-101.SCH) — 2KB
• rdi-20240327_def.xml (EX-101.DEF) — 13KB
• rdi-20240327_lab.xml (EX-101.LAB) — 17KB
• rdi-20240327_pre.xml (EX-101.PRE) — 14KB
• rdi-20240327x8k_htm.xml (XML) — 7KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On March 27, 2024, Consolidated Amusement Holdings, LLC ("CAH"), a subsidiary of Reading International, Inc. (the "Company"), and other affiliates of CAH (the "Guarantors"), entered into a Waiver and Sixth Amendment to Second Amended and Restated Credit Agreement (the "Amendment") that amended certain terms of the Second Amended and Restated Credit Agreement, dated as of March 6, 2020, among CAH, the Guarantors, the Lenders from time to time party thereto, Bank of America, N.A., as Administrative Agent, Swingline Lender and L/C Issuer (as amended and supplemented, the "BofA Credit Facility"). Pursuant to the Amendment, the maturity date of the BofA Credit Facility was extended to August 18, 2025. The Amendment also (i) includes a mandatory principal paydown of $275,000 on the date of the Amendment, (ii) eliminates the minimum liquidity covenant, (iii) reduces the principal amortization amounts, and (iv) requires certain principal paydowns on the sale of certain real estate assets. The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, a copy of which will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2024.

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. On April 1, 2024, Reading International, Inc. issued a press release announcing information regarding its results of operations and financial condition for the year and quarter ended December 31, 2023, a copy of which is attached as Exhibit 99.2 ("Earnings Release"). The Consolidated Balance Sheet contained in the Earnings Release issued by Reading on April 1, 2024 contained an incorrect classification of debt which did not take into account the amendment to the Bank of America facility which was entered into on March 27, 2024. As of December 31, 2023, the "Debt – current portion" of the Balance Sheet is $34.484 million and the "Debt – long-term portion" is $146.605 million. A copy of the corrected earnings release issued by Reading on April 2, 2024 is attached as Exhibit 99.1. The disclosure regarding Reading's debt contained in its Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the Securities and Exchange Commission on March 29, 2024, is correct.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. 99.1 Press release (As Corrected) issued by Reading International, Inc. on April 2, 2024 pertaining to its results of operations and financial condition for the year and quarter ended December 31, 2023. 99.2 Press release issued by Reading International, Inc. on April 1, 2024 pertaining to its results of operations and financial condition for the year and quarter ended December 31, 2023. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. READING INTERNATIONAL, INC. Date: April 2, 2024 By: /s/ Gilbert Avanes Name: Gilbert Avanes Title: Executive Vice President, Chief Financial Officer and Treasurer

View Full Filing

View this 8-K filing on SEC EDGAR