Universal Technical Institute Enters Material Definitive Agreement

TL;DR

UTI just signed a big deal, likely involving debt or a new financial obligation.

AI Summary

On September 26, 2024, Universal Technical Institute, Inc. entered into a material definitive agreement related to a direct financial obligation. The company, incorporated in Delaware, has its principal executive offices in Phoenix, Arizona.

Why It Matters

This filing indicates a significant financial commitment or obligation for Universal Technical Institute, Inc., which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements, especially those involving financial obligations, can introduce financial risks and uncertainties for a company.

Key Players & Entities

• Universal Technical Institute, Inc. (company) — Registrant
• September 26, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of incorporation
• Phoenix, Arizona (location) — Address of principal executive offices

FAQ

Key Financial Figures

• $0.0001 — b) of the Act: Common Stock, par value $0.0001 per share UTI New York Stock Exchan
• $125.0 m — the revolving loan commitment amount to $125.0 million, (ii) add a $25.0 million accordi
• $25.0 million — nt amount to $125.0 million, (ii) add a $25.0 million accordion feature, (iii) extend the mat

Filing Documents

• d836140d8k.htm (8-K) — 24KB
• 0001193125-24-226939.txt ( ) — 143KB
• uti-20240926.xsd (EX-101.SCH) — 3KB
• uti-20240926_lab.xml (EX-101.LAB) — 18KB
• uti-20240926_pre.xml (EX-101.PRE) — 11KB
• d836140d8k_htm.xml (XML) — 4KB

From the Filing

8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): September 26, 2024 UNIVERSAL TECHNICAL INSTITUTE, INC. (Exact name of registrant as specified in its charter) Delaware 1-31923 86-0226984 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 4225 E. Windrose Drive , Suite 200 , Phoenix , Arizona (Address of principal executive offices) 85032 (Zip Code) (623) 445-9500 (Registrant's telephone number, including area code) N/A (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Common Stock, par value $0.0001 per share UTI New York Stock Exchange (Title of each class) (Trading symbol) (Name of each exchange on which registered) Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 ( 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 ( 240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item1.01 Entry into a Material Definitive Agreement. Amendment to Credit Agreement. As previously disclosed, Universal Technical Institute, Inc., a Delaware corporation (the " Company "), and certain of its subsidiaries (collectively with the Company, the " Loan Parties "), entered into a Credit Agreement, dated as of November 18, 2022 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the " Credit Agreement "), with Fifth Third Bank, a national banking association (the " Lender "). On September 26, 2024, the Loan Parties entered into a Third Amendment to Credit Agreement (the " Amendment ") with the Lender to, among other things, (i) increase the revolving loan commitment amount to $125.0 million, (ii) add a $25.0 million accordion feature, (iii) extend the maturity date of the Credit Agreement to November 30, 2027, and (iv) eliminate the credit spread adjustment. The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by the full text of the Amendment, a copy of which will be timely filed as an exhibit to the Company's upcoming Annual Report on Form 10-K in accordance with applicable rules and regulations of the Securities and Exchange Commission. Item2.03 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 on Form 8-K is incorporated by reference herein. 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: September 26, 2024 Universal Technical Institute, Inc. By: /s/ Christopher Kevane Name: Christopher Kevane Title: Executive Vice President and Chief Legal Officer 3

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View this 8-K filing on SEC EDGAR