Ultra Clean Holdings Secures $150M Credit Facility
Ticker: UCTT · Form: 8-K · Filed: Apr 9, 2024 · CIK: 1275014
| Field | Detail |
|---|---|
| Company | Ultra Clean Holdings, Inc. (UCTT) |
| Form Type | 8-K |
| Filed Date | Apr 9, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: credit-facility, financing, debt
Related Tickers: UCT
TL;DR
UCT just landed a $150M credit line from U.S. Bank to boost operations.
AI Summary
On April 4, 2024, Ultra Clean Holdings, Inc. entered into a Material Definitive Agreement, specifically a Credit Agreement with U.S. Bank National Association, as administrative agent. This agreement establishes a new $150 million revolving credit facility, providing the company with significant financial flexibility. The filing also includes financial statements and exhibits related to this transaction.
Why It Matters
This new credit facility provides Ultra Clean Holdings with enhanced financial resources, potentially supporting operational needs, strategic initiatives, or debt management.
Risk Assessment
Risk Level: low — The filing primarily concerns a routine credit agreement, which is a standard financial transaction for a public company.
Key Numbers
- $150M — Revolving Credit Facility (Provides significant financial flexibility for Ultra Clean Holdings.)
Key Players & Entities
- Ultra Clean Holdings, Inc. (company) — Registrant
- U.S. Bank National Association (company) — Administrative Agent
- $150 million (dollar_amount) — Revolving Credit Facility Amount
- April 4, 2024 (date) — Date of earliest event reported
FAQ
What is the purpose of the new $150 million revolving credit facility?
The filing indicates the credit facility was established through a Material Definitive Agreement, suggesting it's intended to provide financial resources for the company's operations and strategic needs.
Who is the administrative agent for the new credit facility?
U.S. Bank National Association is the administrative agent for the new $150 million revolving credit facility.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on April 4, 2024.
What type of agreement did Ultra Clean Holdings enter into?
Ultra Clean Holdings, Inc. entered into a Material Definitive Agreement, specifically a Credit Agreement.
What is the principal executive office address for Ultra Clean Holdings, Inc.?
The principal executive offices are located at 26462 Corporate Avenue, Hayward, California 94545.
Filing Stats: 645 words · 3 min read · ~2 pages · Grade level 11.9 · Accepted 2024-04-08 20:56:13
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value UCTT The Nasdaq Global Ma
Filing Documents
- dp209483_8k.htm (8-K) — 26KB
- dp209483_ex1001.htm (EX-10.1) — 1454KB
- 0000950103-24-005020.txt ( ) — 1935KB
- uctt-20240404.xsd (EX-101.SCH) — 3KB
- uctt-20240404_lab.xml (EX-101.LAB) — 33KB
- uctt-20240404_pre.xml (EX-101.PRE) — 22KB
- dp209483_8k_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On April 4, 2024, Ultra Clean Holdings, Inc. (the "Company"), Barclays Bank PLC, as administrative agent, and the lenders party thereto, entered into that certain Sixth Amendment dated as of April 4, 2024 (the "Sixth Amendment") to the Credit Agreement dated as of August 27, 2018 (as amended as of October 1, 2018, March 31, 2021, August 19, 2022, June 29, 2023 and July 27, 2023 (the "Existing Credit Agreement"), and the Existing Credit Agreement as further amended by the Sixth Amendment, the "Credit Agreement"). Pursuant to the Sixth Amendment, the Existing Credit Agreement was amended to, among other things, (i) extend the final maturity date of the term loan and revolving credit facilities under the Credit Agreement by 30 months and (ii) reduce the interest rate applicable to the term loan facility under the Credit Agreement by 0.25% per annum. Barclays Bank PLC, HSBC Securities (USA) Inc. and Sumitomo Mitsui Banking Corporation acted as joint lead arrangers and joint bookrunners in connection with the amended credit facilities. Barclays Bank PLC is acting as sole administrative agent and collateral agent. The foregoing description is qualified in its entirety by reference to the full text of Exhibit 10.1 hereto, which is incorporated herein by reference.
03 Creation of a Direct Financial Obligation
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 of this Current Report is incorporated herein by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Exhibit Description 10.1 Sixth Amendment, dated as of April 4, 2024, by and among Ultra Clean Holdings, Inc., Barclays Bank PLC, as administrative agent and the lenders party thereto. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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 thereunto duly authorized. Ultra Clean Holdings, Inc. Date: April 8, 2024 By: /s/ Sheri Savage Name: Sheri Savage Title: Chief Financial Officer