SAIC Enters Material Definitive Agreement
Ticker: SAIC · Form: 8-K · Filed: Oct 22, 2024 · CIK: 1571123
| Field | Detail |
|---|---|
| Company | Science Applications International Corp (SAIC) |
| Form Type | 8-K |
| Filed Date | Oct 22, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation
TL;DR
SAIC just signed a big deal, could mean new debt or financial commitments.
AI Summary
Science Applications International Corporation (SAIC) entered into a material definitive agreement on October 18, 2024, related to a direct financial obligation. The filing details the creation of this obligation under an off-balance sheet arrangement. Specific details regarding the nature of the agreement and the financial obligation are not fully disclosed in this initial 8-K filing.
Why It Matters
This filing indicates SAIC has entered into a significant financial agreement, which could impact its future financial obligations and operational structure.
Risk Assessment
Risk Level: medium — The filing indicates a material definitive agreement and a direct financial obligation, suggesting potential financial commitments or risks that are not yet fully detailed.
Key Players & Entities
- Science Applications International Corporation (company) — Registrant
- SAIC (company) — Abbreviation for Registrant
- October 18, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the material definitive agreement entered into by SAIC?
The filing states that SAIC entered into a material definitive agreement on October 18, 2024, but does not specify the exact nature of the agreement.
What type of financial obligation was created by SAIC?
SAIC created a direct financial obligation or an obligation under an off-balance sheet arrangement, as reported on October 18, 2024.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on October 18, 2024.
What is SAIC's state of incorporation and fiscal year end?
SAIC is incorporated in Delaware and its fiscal year ends on January 31.
What are the business and mail addresses for SAIC?
SAIC's business and mail address is 12010 Sunset Hills Road, Reston, VA 20190.
Filing Stats: 739 words · 3 min read · ~2 pages · Grade level 11.7 · Accepted 2024-10-22 16:08:23
Filing Documents
- saic-20241018.htm (8-K) — 32KB
- saic8k10182024exhibit101.htm (EX-10.1) — 27KB
- saic8k10182024exhibit101001.jpg (GRAPHIC) — 285KB
- saic8k10182024exhibit101002.jpg (GRAPHIC) — 229KB
- saic8k10182024exhibit101003.jpg (GRAPHIC) — 271KB
- saic8k10182024exhibit101004.jpg (GRAPHIC) — 273KB
- saic8k10182024exhibit101005.jpg (GRAPHIC) — 255KB
- saic8k10182024exhibit101006.jpg (GRAPHIC) — 262KB
- saic8k10182024exhibit101007.jpg (GRAPHIC) — 285KB
- saic8k10182024exhibit101008.jpg (GRAPHIC) — 101KB
- saic8k10182024exhibit101009.jpg (GRAPHIC) — 64KB
- saic8k10182024exhibit101010.jpg (GRAPHIC) — 40KB
- saic8k10182024exhibit101011.jpg (GRAPHIC) — 31KB
- 0001571123-24-000140.txt ( ) — 3079KB
- saic-20241018.xsd (EX-101.SCH) — 2KB
- saic-20241018_lab.xml (EX-101.LAB) — 22KB
- saic-20241018_pre.xml (EX-101.PRE) — 13KB
- saic-20241018_htm.xml (XML) — 3KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement The information required by this item is included in Item 2.03 below and is incorporated herein by reference. Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant On October 18, 2024 (the "Closing Date"), Science Applications International Corporation ("SAIC") entered into the Seventh Amendment (the "Amendment") to the Third Amended and Restated Credit Agreement, dated as of October 31, 2018, as amended by the First Amendment, dated as of February 19, 2020, as further amended by the Second Amendment, dated as of March 13, 2020, as further amended by the Third Amendment, dated as of March 1, 2021, as further amended by the Fourth Amendment, dated as of July 2, 2021, as further amended by the Fifth Amendment, dated as of June 30, 2022, and as further amended by the Sixth Amendment, dated February 8, 2024 (the "Existing Credit Agreement" and together with the Amendment, the "Amended Credit Agreement"), among SAIC, as borrower, Citibank, N.A., as administrative agent and collateral agent, and certain other lenders and parties thereto. Pursuant to the Amendment, (a) the Applicable Margin for the Tranche B3 Loans (as defined in the Amended Credit Agreement) will be reduced (i) for Term SOFR Advances (as defined in the Amended Credit Agreement) from 1.875% per annum to 1.750% per annum, and (ii) for Base Rate Advances (as defined in the Amended Credit Agreement) from 0.875% per annum to 0.750% per annum, and (b) certain other provisions under the Credit Agreement will be amended as provided therein. The Seventh Amendment also contains certain other conforming amendments. The foregoing description 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 in this Current Report on Form 8-K Item 9.01.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits. Exhibit Number Description of Exhibit 10.1 Seventh Amendment to the Third Amended and Restated Credit Agreement, dated October 18, 2024, by and among SAIC, Citibank N.A., as administrative agent and collateral agent, and certain other lenders and parties thereto. 104 Cover Page Interactive Data File, formatted as Inline XBRL
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. Date: October 22, 2024 Science Applications International Corporation By: /s/ Hilary L. Hageman Hilary L. Hageman Executive Vice President, General Counsel and Corporate Secretary