Rayonier Advanced Materials Files 8-K on Material Agreement

TL;DR

**RYAM filed an 8-K about a new material agreement, but gave no details.**

AI Summary

Rayonier Advanced Materials Inc. filed an 8-K on January 3, 2024, reporting an event that occurred on January 2, 2024, related to an "Entry into a Material Definitive Agreement" and "Other Events." While the filing indicates a significant agreement, it does not disclose the specific details of the agreement or any associated dollar amounts. This matters to investors because without the specifics, it's impossible to assess the potential financial impact, positive or negative, on the company's stock price or future performance.

Why It Matters

This filing signals a new material agreement for Rayonier Advanced Materials Inc., which could significantly impact its operations or financial health, but the lack of detail leaves investors in the dark.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement but provides no details, creating uncertainty and potential risk for investors who cannot evaluate its impact.

Analyst Insight

A smart investor would await further disclosures from Rayonier Advanced Materials Inc. regarding the specifics of the "Material Definitive Agreement" before making any investment decisions, as the current filing lacks crucial details to assess impact.

Key Players & Entities

• RAYONIER ADVANCED MATERIALS INC. (company) — the registrant filing the 8-K
• January 2, 2024 (date) — date of the earliest event reported
• January 3, 2024 (date) — date the 8-K was filed
• 001-36285 (other) — Commission File Number for the registrant
• 46-4559529 (other) — I.R.S. Employer Identification No. for the registrant

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value RYAM New York Stock Excha

Filing Documents

• d596153d8k.htm (8-K) — 29KB
• d596153dex101.htm (EX-10.1) — 993KB
• d596153dex991.htm (EX-99.1) — 8KB
• g596153g0103013841029.jpg (GRAPHIC) — 5KB
• g596153g0103014951380.jpg (GRAPHIC) — 5KB
• 0001193125-24-001028.txt ( ) — 1451KB
• ryam-20240102.xsd (EX-101.SCH) — 4KB
• ryam-20240102_def.xml (EX-101.DEF) — 13KB
• ryam-20240102_lab.xml (EX-101.LAB) — 21KB
• ryam-20240102_pre.xml (EX-101.PRE) — 14KB
• d596153d8k_htm.xml (XML) — 5KB

01

Item 1.01. Entry Into a Material Definitive Agreement On January 2, 2024, RYAM Lux SARL a private limited liability company ( Socit responsabilit limite ) incorporated under the laws of Luxembourg (the "Lux Borrower"), a wholly owned subsidiary of Rayonier Advanced Materials Inc., a Delaware corporation ("RYAM"), entered into Amendment No. 1 to Term Loan Credit Agreement (the "Amendment") with RYAM and its other subsidiaries party thereto, the lenders party thereto and Oaktree Fund Administration, LLC, as administrative agent. The Amendment amends that certain Term Loan Credit Agreement, dated as of July 20, 2023 (the "Term Loan Credit Agreement"), to, among other things, increase the maximum consolidated secured net leverage ratio, as defined in the Term Loan Credit Agreement, that RYAM must maintain through its 2024 fiscal year. Pursuant to the Amendment, RYAM is required to maintain a consolidated secured net leverage ratio of 5.25 to 1.00 for the fourth fiscal quarter of 2023 through the second fiscal quarter of 2024, 5.00 to 1.00 for the third fiscal quarter of 2024, 4.75 to 1.00 for the fourth fiscal quarter of 2024 and 4.50 to 1.00 for each fiscal quarter thereafter. RYAM agreed to pay the lenders under the Term Loan Credit Agreement certain fees in connection with the Amendment. The above summary of the material terms of the Amendment does not purport to be complete and is qualified in its entirety by reference to the Amendment, a copy of which is filed as Exhibit 10.1 hereto and incorporated by reference herein.

01

Item 8.01. Other Events A copy of RYAM's press release with respect to the transactions described in this Report is attached hereto as Exhibit 99.1, which is incorporated by reference herein.

Financial Statements and Exhibits

Financial Statements and Exhibits (d) Exhibits . Exhibit No. Description of Exhibit 10.1 Amendment No. 1 to Term Loan Credit Agreement, dated as of January 2, 2024, by and among RYAM Lux SARL, Rayonier Advanced Materials Inc., the other subsidiaries of Rayonier Advanced Materials Inc. party thereto, the lenders party thereto, and Oaktree Fund Administration, LLC, as administrative agent. 99.1 Press release dated January 2, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE 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. RAYONIER ADVANCED MATERIALS INC. By: /s/ Richard Colby Slaughter Richard Colby Slaughter Senior Vice President, General Counsel and Corporate Secretary January 3, 2024

View Full Filing

View this 8-K filing on SEC EDGAR