Wolverine World Wide Signs Material Definitive Agreement
Ticker: WWW · Form: 8-K · Filed: Dec 12, 2024 · CIK: 110471
| Field | Detail |
|---|---|
| Company | Wolverine World Wide INC /De/ (WWW) |
| Form Type | 8-K |
| Filed Date | Dec 12, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $1, $1 billion, $800 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement
TL;DR
Wolverine World Wide just signed a big deal, details TBD.
AI Summary
Wolverine World Wide, Inc. entered into a Material Definitive Agreement on December 6, 2024. The filing does not disclose the specific details of this agreement, only that it is material and definitive.
Why It Matters
This filing indicates a significant new contract or partnership for Wolverine World Wide, the implications of which will be revealed as more information becomes available.
Risk Assessment
Risk Level: medium — The lack of detail in the filing regarding the nature and terms of the material definitive agreement introduces uncertainty about its potential impact on the company.
Key Players & Entities
- WOLVERINE WORLD WIDE, INC. (company) — Registrant
- December 6, 2024 (date) — Date of earliest event reported
- December 12, 2024 (date) — Date of report
FAQ
What is the nature of the Material Definitive Agreement entered into by Wolverine World Wide?
The filing does not specify the nature of the Material Definitive Agreement, only that one was entered into on December 6, 2024.
When was the Material Definitive Agreement entered into?
The Material Definitive Agreement was entered into on December 6, 2024.
What is the filing date for this 8-K report?
The filing date for this 8-K report is December 12, 2024.
What is Wolverine World Wide's state of incorporation?
Wolverine World Wide, Inc. is incorporated in Delaware.
What is Wolverine World Wide's principal executive office address?
Wolverine World Wide's principal executive offices are located at 9341 Courtland Drive N.E., Rockford, Michigan 49351.
Filing Stats: 499 words · 2 min read · ~2 pages · Grade level 11.5 · Accepted 2024-12-12 07:30:53
Key Financial Figures
- $1 — ange on which registered Common Stock, $1 Par Value WWW New York Stock Exchange
- $1 billion — nt, and the lenders party thereto, from $1 billion to $800 million (the "Commitment Reduct
- $800 million — nders party thereto, from $1 billion to $800 million (the "Commitment Reduction"), as permit
Filing Documents
- www-20241206.htm (8-K) — 28KB
- 0000110471-24-000185.txt ( ) — 149KB
- www-20241206.xsd (EX-101.SCH) — 2KB
- www-20241206_lab.xml (EX-101.LAB) — 21KB
- www-20241206_pre.xml (EX-101.PRE) — 12KB
- www-20241206_htm.xml (XML) — 3KB
01 Entry Into a Material Definitive Agreement
Item 1.01 Entry Into a Material Definitive Agreement. On December 6, 2024, Wolverine World Wide, Inc. (the "Company") voluntarily reduced the commitment under the revolving credit facility included in the Company's Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto, from $1 billion to $800 million (the "Commitment Reduction"), as permitted under the Credit Agreement. The Commitment Reduction was effective as of December 11, 2024. A formal amendment to the Credit Agreement was not required to effect the Commitment Reduction. Management of the Company believes $800 million in borrowing capacity under the revolving credit facility is sufficient to support the Company's business in light of the divestitures completed by the Company in 2023 and 2024. The Commitment Reduction will reduce the Company's unused commitment fees and is not expected to have any effect on the Company's operations or leverage. 2
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. Dated: December 12, 2024 WOLVERINE WORLD WIDE, INC. (Registrant) /s/ Taryn L. Miller Taryn L. Miller Chief Financial Officer and Treasurer 3