Regis Corp Enters New Agreement, Terminates Old One
Ticker: RGS · Form: 8-K · Filed: Jun 25, 2024 · CIK: 716643
| Field | Detail |
|---|---|
| Company | Regis Corp (RGS) |
| Form Type | 8-K |
| Filed Date | Jun 25, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.05, $35 million, $70 million, $25 million, $180 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, termination, financial-obligation
TL;DR
Regis Corp just signed a new deal and ditched an old one. Big changes coming.
AI Summary
On June 24, 2024, Regis Corporation entered into a Material Definitive Agreement and simultaneously terminated a prior Material Definitive Agreement. The company also incurred a Direct Financial Obligation. Further details regarding these transactions and their financial implications are provided in the filing.
Why It Matters
This filing indicates a significant shift in Regis Corporation's contractual relationships, potentially impacting its operational structure and financial obligations.
Risk Assessment
Risk Level: medium — The entry into a new material definitive agreement and termination of another suggests significant strategic or operational changes that could carry inherent risks.
Key Players & Entities
- REGIS CORP (company) — Registrant
- June 24, 2024 (date) — Date of earliest event reported
- Minnesota (location) — State of incorporation
- 3701 Wayzata Boulevard (address) — Principal executive offices
- Minneapolis (location) — City of principal executive offices
- 55416 (zip_code) — Zip code of principal executive offices
FAQ
What is the nature of the new Material Definitive Agreement entered into by Regis Corporation?
The filing states that Regis Corporation entered into a Material Definitive Agreement on June 24, 2024, but does not specify its nature or terms within the provided text.
Which specific Material Definitive Agreement was terminated by Regis Corporation?
The filing indicates the termination of a Material Definitive Agreement on June 24, 2024, but does not name the specific agreement that was terminated.
What is the Direct Financial Obligation incurred by Regis Corporation?
The filing confirms the creation of a Direct Financial Obligation by Regis Corporation on June 24, 2024, but does not provide specific details about the obligation itself.
What is the significance of the Regulation FD Disclosure mentioned in the filing?
The Regulation FD Disclosure item indicates that the company is providing information to ensure fair and widespread disclosure of material information, as required by the regulation.
When was Regis Corporation incorporated and in which state?
Regis Corporation was incorporated in Minnesota, as indicated by the filing.
Filing Stats: 1,202 words · 5 min read · ~4 pages · Grade level 11.5 · Accepted 2024-06-25 06:04:32
Key Financial Figures
- $0.05 — ich registered Common Stock, par value $0.05 per share RGS The Nasdaq Global Sel
- $35 million — ed Credit Facility ") consisting of (i) $35 million Term Loan A, (ii) $70 million Term Loan
- $70 million — ng of (i) $35 million Term Loan A, (ii) $70 million Term Loan B (together with the Term Loa
- $25 million — " Senior Secured Term Loan ") and (iii) $25 million revolver (the " Senior Secured Revolver
- $180 million — xisting Credit Agreement provided for a $180 million term loan facility and a $55 million re
- $55 million — a $180 million term loan facility and a $55 million revolving facility and made funds avail
- $94 million — Credit Agreement accepted a payment of $94 million in satisfaction of the roughly $190 mil
- $190 million — million in satisfaction of the roughly $190 million of principal and accrued interest outst
Filing Documents
- d769948d8k.htm (8-K) — 34KB
- d769948dex101.htm (EX-10.1) — 1106KB
- d769948dex991.htm (EX-99.1) — 11KB
- 0001193125-24-167408.txt ( ) — 1527KB
- rgs-20240624.xsd (EX-101.SCH) — 3KB
- rgs-20240624_lab.xml (EX-101.LAB) — 17KB
- rgs-20240624_pre.xml (EX-101.PRE) — 11KB
- d769948d8k_htm.xml (XML) — 3KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits The exhibits listed on the Exhibit Index are incorporated herein by reference. Exhibit Index Exhibit No. Description 10.1 Financing Agreement, dated as of June 24, 2024, among Regis Corporation, the Lenders party thereto, TCW Asset Management Company LLC as administrative and collateral agent, and MidCap Financial Trust as Revolving Agent. 99.1 Press Release, dated June 25, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 3
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. REGIS CORPORATION /s/ Kersten D. Zupfer Name: Kersten D. Zupfer Title: Executive Vice President and Chief Financial Officer Date: June 25, 2024 4