Lithia Motors Files 8-K on Material Agreement, Financials

Ticker: LAD · Form: 8-K · Filed: 2024-02-27T00:00:00.000Z

Sentiment: neutral

Topics: 8-K Filing, Material Agreement, Corporate Disclosure

TL;DR

**Lithia Motors just filed an 8-K about a material agreement and financials, but the actual details are missing from this report.**

AI Summary

LITHIA MOTORS INC filed an 8-K on February 27, 2024, reporting an "Entry into a Material Definitive Agreement" and "Financial Statements and Exhibits" for an event that occurred on February 23, 2024. The filing indicates the company's compliance with SEC disclosure requirements. However, specific details regarding the nature or terms of the agreement, or the content of the financial statements, are not provided in this excerpt.

Why It Matters

This filing signals a potentially significant business development for LITHIA MOTORS INC, as a material definitive agreement could alter its operations or financial position. However, without specific details, the full impact on investors and the company remains unclear.

Risk Assessment

Risk Level: medium — The filing itself is a standard disclosure, and without the specific terms of the material agreement or financial statements, no inherent positive or negative risk can be assessed from this excerpt.

Key Players & Entities

FAQ

What company filed this 8-K?

LITHIA MOTORS, INC. filed this 8-K.

What was the date of the earliest event reported in this 8-K?

The earliest event reported was on February 23, 2024.

What items were reported in this 8-K filing?

The items reported were "Entry into a Material Definitive Agreement" and "Financial Statements and Exhibits."

What is the state of incorporation for LITHIA MOTORS, INC.?

LITHIA MOTORS, INC. is incorporated in Oregon.

What is the CIK (Central Index Key) for LITHIA MOTORS INC?

The CIK for LITHIA MOTORS INC is 0001023128.

Filing Stats: 629 words · 3 min read · ~2 pages · Grade level 10.5 · Accepted 2024-02-27 16:08:09

Key Financial Figures

Filing Documents

01. Entry Into a Material Definitive Agreement

Item 1.01. Entry Into a Material Definitive Agreement On February 23, 2024, Lithia Motors, Inc. (the "Company") entered into a Fifth Amendment (the "Fifth Amendment") to its Fourth Amended and Restated Loan Agreement (the "Loan Agreement") with U.S. Bank National Association as agent for the lenders, and each of the lenders party to the Loan Agreement, as lenders (collectively, the "Lenders"). Among other changes, the Fifth Amendment increases the total financing commitment from $4.69 billion to $6.00 billion, which may be further expanded, subject to Lender approval and the satisfaction of other conditions, up to a total of $6.50 billion. This amendment extends the expiration date of the credit facility to February 23, 2029 (additionally includes 1-year extension options available annually subject to lender threshold consent and the satisfaction of other conditions). A copy of the Fifth Amendment is set forth as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. The description of the Fifth Amendment in this Report is only a summary and is qualified in its entirety by reference to the actual terms of the Fifth Amendment.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit No. Description 10.1 Fifth Amendment to Fourth Amended and Restated Loan Agreement, dated February 23, 2024, among Lithia Motors, Inc., the subsidiaries of Lithia Motors, Inc. listed on the signature pages of the agreement or that thereafter become borrowers thereunder, the lenders party thereto from time to time, and U.S. Bank National Association.* 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). *Certain confidential and immaterial terms redacted pursuant to Item 601(b)(10)(iv) of Regulation S-K. SIGNATURE 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: February 27, 2024 LITHIA MOTORS, INC. By: /s/ Tina Miller Tina Miller Senior Vice President and Chief Financial Officer

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