Savers Value Village Enters Material Agreement, New Financial Obligation

TL;DR

**SVV just took on a new material financial obligation; details to follow but could impact financials.**

AI Summary

Savers Value Village, Inc. (SVV) filed an 8-K on January 31, 2024, reporting an event that occurred on January 30, 2024, concerning an "Entry into a Material Definitive Agreement" and the "Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement." This filing indicates that the company has entered into a significant new financial commitment or agreement. For investors, this matters because new financial obligations can impact the company's balance sheet, cash flow, and future profitability, potentially affecting the stock's valuation.

Why It Matters

This filing signals a new, potentially significant financial commitment for Savers Value Village, which could affect its financial health and future stock performance. Investors should monitor for details on the nature and size of this obligation.

Risk Assessment

Risk Level: medium — The filing indicates a new financial obligation without providing specific details, creating uncertainty about its potential impact on the company's financial health.

Analyst Insight

A smart investor would await further details on the 'Material Definitive Agreement' and 'Direct Financial Obligation' to assess their financial impact before making any investment decisions.

Key Players & Entities

• Savers Value Village, Inc. (company) — the registrant filing the 8-K
• January 30, 2024 (date) — date of the earliest event reported
• January 31, 2024 (date) — date the 8-K was filed
• SVV (company) — trading symbol for Savers Value Village, Inc.
• The New York Stock Exchange (company) — exchange where SVV common stock is registered

FAQ

Key Financial Figures

• $0.000001 — ch registered Common stock, par value $0.000001 SVV The New York Stock Exchange I

Filing Documents

• eh240443706_8k.htm (8-K) — 24KB
• 0000950142-24-000240.txt ( ) — 193KB
• svv-20240130.xsd (EX-101.SCH) — 3KB
• svv-20240130_lab.xml (EX-101.LAB) — 33KB
• svv-20240130_pre.xml (EX-101.PRE) — 22KB
• eh240443706_8k_htm.xml (XML) — 4KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On January 30, 2024, Evergreen Acqco GP LLC, S-Evergreen Holding Corp., Evergreen AcqCo 1 LP (the "US Borrower"), Value Village Canada Inc. (the "Canadian Borrower" and, together with the US Borrower, the "Borrowers"), each a subsidiary of Savers Value Village, Inc., and certain of their subsidiaries entered into an amendment (the "Third Amendment") to the Borrowers' Credit Agreement, dated as of April 26, 2021 (as amended from time to time, including by that certain First Amendment, dated as of November 8, 2021, and that certain Second Amendment, dated as of November 23, 2022, the "Existing Credit Agreement", the Existing Credit Agreement as amended by the Third Amendment, the "Credit Agreement"), among the Borrowers, S-Evergreen Holding Corp., Evergreen Acqco GP LLC, the lenders party thereto, the subsidiary guarantors party thereto and KKR Loan Administration Services LLC, as administrative agent and collateral agent. Among other things, the Third Amendment (i) removes the credit spread adjustment with respect to term loan borrowings in Term SOFR (as defined in the Credit Agreement), (ii) reduces the Applicable Rate (as defined in the Credit Agreement) on the Borrowers' existing term loans to 4.00% for Term SOFR borrowings and 3.00% for Base Rate (as defined in the Credit Agreement) borrowings, (iii) revises the leverage-based pricing grid applicable to term loan borrowings and (iv) provides for a 0.25% reduction of the Applicable Rate applicable to term loan borrowings if the Borrowers achieves certain public corporate family ratings. The foregoing description of the Third Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Third Amendment. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth in Item 1.01 is incorporated into this Item 2.03 by ref

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: January 30, 2024 SAVERS VALUE VILLAGE, INC. By: /s/ Jay Stasz Name: Jay Stasz Title: Chief Financial Officer and Treasurer

View Full Filing

View this 8-K filing on SEC EDGAR