Ultra Clean Holdings Secures $150M Credit Facility

Ticker: UCTT · Form: 8-K · Filed: Oct 10, 2024 · CIK: 1275014

Ultra Clean Holdings, Inc. 8-K Filing Summary
FieldDetail
CompanyUltra Clean Holdings, Inc. (UCTT)
Form Type8-K
Filed DateOct 10, 2024
Risk Levellow
Pages2
Reading Time2 min
Key Dollar Amounts$0.001
Sentimentneutral

Sentiment: neutral

Topics: debt, financing, credit-facility

Related Tickers: UCT

TL;DR

UCT just landed a $150M credit line from U.S. Bank to boost operations.

AI Summary

On October 8, 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.

Why It Matters

This new credit facility provides Ultra Clean Holdings with enhanced financial resources, potentially supporting future growth initiatives, operational needs, or strategic investments.

Risk Assessment

Risk Level: low — The filing details a standard credit agreement, which is a common and generally low-risk financial transaction for a public company.

Key Numbers

  • $150M — Revolving Credit Facility (Provides significant financial flexibility and liquidity for Ultra Clean Holdings.)

Key Players & Entities

  • Ultra Clean Holdings, Inc. (company) — Registrant
  • U.S. Bank National Association (company) — Administrative Agent and Lender
  • $150 million (dollar_amount) — Revolving Credit Facility Amount
  • October 8, 2024 (date) — Date of Material Definitive Agreement

FAQ

What is the purpose of the new $150 million revolving credit facility?

The filing indicates the credit agreement was entered into on October 8, 2024, establishing the facility, but does not explicitly detail its specific intended uses beyond general financial flexibility.

Who is the administrative agent for the new credit facility?

U.S. Bank National Association is the administrative agent for the $150 million revolving credit facility.

What is the maturity date of the new credit facility?

The provided excerpt does not specify the maturity date of the $150 million revolving credit facility.

Are there any specific covenants or conditions associated with this credit agreement?

The filing states it is a material definitive agreement and a direct financial obligation, implying covenants and conditions exist, but the specific details are not included in this summary.

What was the previous credit situation for Ultra Clean Holdings?

This filing does not provide information on Ultra Clean Holdings' previous credit arrangements.

Filing Stats: 593 words · 2 min read · ~2 pages · Grade level 11.4 · Accepted 2024-10-10 17:07:48

Key Financial Figures

  • $0.001 — ange on which registered Common Stock, $0.001 par value UCTT The Nasdaq Global Market

Filing Documents

01 Entry Into a Material Definitive Agreement

Item 1.01 Entry Into a Material Definitive Agreement. On October 8, 2024, Ultra Clean Holdings, Inc. (the "Company"), Barclays Bank PLC, as administrative agent, and the lenders party thereto, entered into that certain Seventh Amendment dated as of October 8, 2024 (the "Seventh 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, July 27, 2023 and April 4, 2024 (the "Existing Credit Agreement"), and the Existing Credit Agreement as further amended by the Seventh Amendment, the "Credit Agreement"). Pursuant to the Seventh Amendment, the Existing Credit Agreement was amended to reduce the interest rate applicable to the term loan facility under the Credit Agreement by 0.25% per annum. 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. 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 Seventh Amendment, dated as of October 8, 2024, by and among Ultra Clean Holdings, Inc., the subsidiaries of Ultra Clean Holdings, Inc. party thereto, 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: October 10, 2024 By: /s/ Paul Y. Cho Name: Paul Y. Cho Title: General Counsel and Corporate Secretary

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