Silvercrest Asset Management Files 8-K

TL;DR

Silvercrest filed an 8-K on 6/18/24 for a material agreement. Details TBD.

AI Summary

On June 18, 2024, Silvercrest Asset Management Group Inc. filed an 8-K report. The filing primarily concerns the entry into a material definitive agreement and includes financial statements and exhibits. No specific details regarding the agreement or financial figures were provided in the excerpt.

Why It Matters

This 8-K filing indicates a significant corporate event or agreement for Silvercrest Asset Management Group Inc., requiring disclosure to investors.

Risk Assessment

Risk Level: low — The filing is a standard disclosure and does not inherently present immediate financial risk without further details.

Key Players & Entities

• Silvercrest Asset Management Group Inc. (company) — Registrant
• June 18, 2024 (date) — Date of earliest event reported
• 1330 Avenue of the Americas, 38th Floor New York, New York 10019 (address) — Principal executive offices
• 212-649-0600 (phone_number) — Registrant's telephone number

FAQ

Key Financial Figures

• $0.01 — ich registered: Class A common stock, $0.01 par value per share SAMG Nasdaq Glo
• $15.0 million — ries of Silvercrest L.P. entered into a $15.0 million credit facility with City National Bank
• $25.5 million — cility was increased and consisted of a $25.5 million delayed draw term loan that was to matu
• $10.0 million — at was to mature on July 1, 2026, and a $10.0 million revolving credit facility with a stated
• $15,000 — so as to provide for an upfront fee of $15,000 and additional commitment fee of up to
• $100,000 — and additional commitment fee of up to $100,000 payable in three installments of $33,33
• $33,333.33 — 00,000 payable in three installments of $33,333.33 each, subject to the terms of the A&R C

Filing Documents

• samg-20240618.htm (8-K) — 52KB
• samg-ex4_1.htm (EX-4.1) — 815KB
• 0000950170-24-074975.txt ( ) — 1104KB
• samg-20240618.xsd (EX-101.SCH) — 30KB
• samg-20240618_htm.xml (XML) — 5KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On June 24, 2013, the subsidiaries of Silvercrest L.P. entered into a $15.0 million credit facility with City National Bank (the "Credit Agreement"). Certain subsidiaries of Silvercrest L.P. are the borrowers under such facility and Silvercrest L.P. guarantees the obligations of its subsidiaries under the credit facility (Silvercrest L.P. and such borrower subsidiaries collectively, the "Credit Parties"). The credit facility is secured by certain assets of Silvercrest L.P. and the borrower subsidiaries. Effective July 1, 2019, the credit facility was increased and consisted of a $25.5 million delayed draw term loan that was to mature on July 1, 2026, and a $10.0 million revolving credit facility with a stated maturity date of June 18, 2024 and a stated term loan draw date of July 1, 2024. On June 18, 2024, the Credit Parties and City National Bank entered into an Amendment and Restatement Agreement, which amends and restates the Credit Agreement (as so amended and restated, the "A&R Credit Agreement") whereby, among other items, (i) the term loan maturity date was extended until June 18, 2027, (ii) the term loan draw date was extended to June 18, 2025, (iii) the term loan commitment was decreased from $25.5 million to $10.0 million as a result of the repayment in full of the existing term loans previously borrowed under the Credit Agreement, and (iv) the $10.0 million revolving credit facility maturity date was extended until June 18, 2025. Additionally, the quarterly installments due upon termination of the term loan commitment were revised to equal 5% of the aggregate principal amount of term loans outstanding as of June 18, 2025 (after giving effect to any term loan made on such date). The fee structure was amended so as to provide for an upfront fee of $15,000 and additional commitment fee of up to $100,000 payable in three installments of $33,333.33 each, subject to the terms of the A&R Credit Agreement, a

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. Exhibit Number Description 4.1 Amendment and Restatement Agreement, dated as of June 18, 2024, among Silvercrest Asset Management Group LLC, Silvercrest Investors LLC, Silvercrest Investors II LLC and Silvercrest Financial Services, Inc., as borrowers, City National Bank, a national banking association, and acknowledged by Silvercrest L.P., as guarantor. 104 Cover Page Interactive Data File (embedded within 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. Dated: June 18, 2024 Silvercrest Asset Management Group Inc. By: /s/ Scott A. Gerard Name: Scott A. Gerard Title: Chief Financial Officer

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View this 8-K filing on SEC EDGAR