Zebra Technologies Enters Material Definitive Agreement

TL;DR

Zebra Tech just signed a big deal, could be a loan or something similar.

AI Summary

On March 19, 2024, Zebra Technologies Corporation entered into a Material Definitive Agreement related to a direct financial obligation. The company, headquartered in Lincolnshire, Illinois, filed this 8-K report with the SEC.

Why It Matters

This filing indicates a significant financial commitment or obligation for Zebra Technologies, which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements can introduce financial obligations or strategic shifts that carry inherent risks.

Key Numbers

• 000-19406 — SEC File Number (Identifies Zebra Technologies' filing with the SEC.)
• 36-2675536 — IRS Employer Identification No. (Company's tax identification number.)

Key Players & Entities

• Zebra Technologies Corporation (company) — Registrant
• March 19, 2024 (date) — Date of earliest event reported
• 3 Overlook Point, Lincolnshire, Illinois 60069 (location) — Principal Executive Offices
• 847-634-6700 (phone_number) — Registrant's telephone number

FAQ

Key Financial Figures

• $180 million — lity") in a maximum principal amount of $180 million based on the availability of eligible r

Filing Documents

• zbra-20240319.htm (8-K) — 38KB
• 0000877212-24-000053.txt ( ) — 160KB
• zbra-20240319.xsd (EX-101.SCH) — 2KB
• zbra-20240319_lab.xml (EX-101.LAB) — 21KB
• zbra-20240319_pre.xml (EX-101.PRE) — 12KB
• zbra-20240319_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement On March 19, 2024, Zebra Technologies International, LLC ("ZTI") and Zebra Technologies RSC, LLC ("ZTRSC"), both of which are wholly-owned subsidiaries of Zebra Technologies Corporation (the "Company"), entered into the third amendment (the "Third Amendment") to that certain Receivables Financing Agreement (the "Financing Agreement"), dated as of December 1, 2017, as previously amended on May 20, 2019 and March 19, 2021, by and among ZTI, as originator and servicer, ZTRSC, as borrower, PNC Bank, National Association ("PNC"), as administrative agent, PNC Capital Markets LLC, as structuring agent, and additional persons from time to time party thereto as lenders and group agents ("Lenders"), pursuant to which the Lenders have agreed to provide financing for ZTRSC's purchase of certain receivables from ZTI. The Financing Agreement provides ZTRSC with a revolving U.S. trade receivables securitization facility (the "A/R Facility") in a maximum principal amount of $180 million based on the availability of eligible receivables and other customary factors, and the satisfaction of certain conditions. Under the A/R Facility, ZTI will sell or contribute certain of its U.S. trade receivables to ZTRSC. ZTRSC has pledged those trade receivables to PNC, as administrative agent, for the benefit of the Lenders, to secure ZTRSC's obligations to repay advances that it obtains from the Lenders under the Financing Agreement. Substantially all of the net proceeds of the advances are expected to be applied towards the purchase of trade receivables by ZTRSC from ZTI. The Company has guaranteed ZTI's performance of its obligations as servicer and originator under the A/R Facility. If ZTI fails in any manner to perform its obligations under the A/R Facility, then the Company is required to perform (or cause to be performed) those obligations as required under the A/R Facility. The Third Amendment (i) extends the scheduled terminat

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. ZEBRA TECHNOLOGIES CORPORATION Date: March 22, 2024 By: /s/ Cristen Kogl Cristen Kogl Chief Legal Officer, General Counsel & Corporate Secretary

View Full Filing

View this 8-K filing on SEC EDGAR