Advance Auto Parts Files 8-K on Material Agreement & Financials

TL;DR

**Advance Auto Parts just dropped an 8-K on a new material agreement and their latest financials, so keep an eye on AAP!**

AI Summary

Advance Auto Parts, Inc. filed an 8-K on February 28, 2024, reporting on an entry into a material definitive agreement and results of operations and financial condition. The filing indicates the company's current status regarding its financial and operational performance, as well as any significant agreements made. This report provides an update on the company's business activities and financial health.

Why It Matters

This filing provides investors with crucial updates on Advance Auto Parts' operational and financial health, which can influence stock performance and future investment decisions.

Risk Assessment

Risk Level: medium — This 8-K is a standard disclosure of events and does not inherently indicate increased risk without further details on the agreement or financial results.

Key Players & Entities

• ADVANCE AUTO PARTS INC (company) — registrant
• February 28, 2024 (date) — date of earliest event reported
• Delaware (location) — state of incorporation
• 4200 Six Forks Road, Raleigh, North Carolina 27609 (location) — principal executive offices address
• 540-362-4911 (phone_number) — registrant's telephone number

FAQ

From the Filing

0001158449-24-000028.txt : 20240228 0001158449-24-000028.hdr.sgml : 20240228 20240228063058 ACCESSION NUMBER: 0001158449-24-000028 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 19 CONFORMED PERIOD OF REPORT: 20240228 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240228 DATE AS OF CHANGE: 20240228 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADVANCE AUTO PARTS INC CENTRAL INDEX KEY: 0001158449 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-AUTO & HOME SUPPLY STORES [5531] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 542049910 STATE OF INCORPORATION: DE FISCAL YEAR END: 1230 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-16797 FILM NUMBER: 24690068 BUSINESS ADDRESS: STREET 1: 4200 SIX FORKS ROAD CITY: RALEIGH STATE: NC ZIP: 27609 BUSINESS PHONE: 5403624911 MAIL ADDRESS: STREET 1: 4200 SIX FORKS ROAD CITY: RALEIGH STATE: NC ZIP: 27609 8-K 1 aap-20240228.htm 8-K aap-20240228 0001158449 false 0001158449 2024-02-28 2024-02-28   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): February 28, 2024   ADVANCE AUTO PARTS, INC. (Exact name of registrant as specified in its charter)   Delaware 001-16797 54-2049910 (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.)   4200 Six Forks Road , Raleigh , North Carolina 27609 (Address of principal executive offices) (Zip Code)   ( 540 ) 362-4911 (Registrant's telephone number, including area code)   Not Applicable (Former name or former address, if changed since last report)   Securities Registered Pursuant to Section 12(b) of the Act: Title of each class Trading symbol Name of each exchange on which registered Common Stock, $0.0001 par value AAP New York Stock Exchange Check the appropriate box below if the Form 8-K filing 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)) 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. ☐ INFORMATION TO BE INCLUDED IN THE REPORT Item 1.01 Entry into a Material Definitive Agreement. On February 26, 2024, we entered into Amendment No. 4 to the Credit Agreement dated November 9, 2021, with Advance Auto Parts, Inc., as Borrower, Advance Stores Company, Incorporated, as a Guarantor, the lenders party thereto, and Bank of America, N.A., as administrative agent (the "2021 Credit Agreement") to enable certain addbacks to the definition of Consolidated EBITDA contained therein for specific write-downs of inventory and vendor receivables. Amendment No. 4 also updated certain limitations on future incurrence of other indebtedness and liens, replacing the cap thereon of 10% of consolidated net tangible assets with $400 million, and eliminat