Construction Partners Enters Material Agreement, Reports Equity Sales

TL;DR

CPRT inks new credit deal, sells equity, and has new financial obligations.

AI Summary

On May 22, 2024, Construction Partners, Inc. entered into a material definitive agreement related to a credit facility. The company also reported on the creation of a direct financial obligation and unregistered sales of equity securities. The filing details financial statements and exhibits.

Why It Matters

This filing indicates significant financial activity for Construction Partners, Inc., including new obligations and equity transactions, which could impact its financial structure and shareholder value.

Risk Assessment

Risk Level: medium — The filing involves material definitive agreements, financial obligations, and unregistered equity sales, which carry inherent financial and regulatory risks.

Key Players & Entities

• Construction Partners, Inc. (company) — Registrant
• May 22, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.001 — which registered Class A common stock, $0.001 par value ROAD The Nasdaq Stock Mar
• $325.0 million — n initial aggregate principal amount of $325.0 million (the "Revolving Credit Facility"), (ii)
• $250.0 million — n initial aggregate principal amount of $250.0 million (the "Term Loan"), and (iii) a delayed
• $50.0 million — n initial aggregate principal amount of $50.0 million (the "Delayed Draw Term Loan"), permitt
• $200.0 million — ipal amount of up to the greater of (i) $200.0 million and (ii) the amount of the consolidated
• $400.0 million — y were increased from $325.0 million to $400.0 million (as so increased, the "Increased Revolv
• $125.0 million — ed Revolving Credit Facility") and (ii) $125.0 million of borrowings previously outstanding un
• $98.1 million — , after giving effect to the Amendment, $98.1 million of principal was outstanding under the
• $401.3 million — olving Facility, and (ii) approximately $401.3 million of principal was outstanding under the

Filing Documents

• d836320d8k.htm (8-K) — 36KB
• d836320dex101.htm (EX-10.1) — 1034KB
• 0001193125-24-149169.txt ( ) — 1425KB
• road-20240522.xsd (EX-101.SCH) — 3KB
• road-20240522_lab.xml (EX-101.LAB) — 18KB
• road-20240522_pre.xml (EX-101.PRE) — 11KB
• d836320d8k_htm.xml (XML) — 4KB

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1* Third Amendment to Third Amended and Restated Credit Agreement, dated as of May 29, 2024, by and among Construction Partners, Inc. and each of its wholly owned subsidiaries, as loan parties, PNC Bank, National Association, as administrative agent and lender, PNC Capital Markets LLC, as joint lead arranger and sole bookrunner, Regions Bank and BofA Securities, Inc., each as a joint arranger, and certain other lenders party thereto. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). * Schedules and exhibits have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company agrees to furnish to the Securities and Exchange Commission a copy of any omitted schedule or exhibit upon request. Certain confidential information has been excluded pursuant to Item 601(b)(10)(iv) of Regulation S-K. Such excluded information is not material and is the type that the Company treats as private or confidential.

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. CONSTRUCTION PARTNERS, INC. Date: May 29, 2024 By: /s/ Gregory A. Hoffman Gregory A. Hoffman Senior Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR