Coca-Cola Consolidated Terminates Material Agreement

Ticker: COKE · Form: 8-K · Filed: 2024-06-24T00:00:00.000Z

Sentiment: neutral

Topics: agreement-termination, material-event

Related Tickers: KO

TL;DR

CCBCC just terminated a big deal, details TBD.

AI Summary

Coca-Cola Consolidated, Inc. announced on June 20, 2024, the termination of a material definitive agreement. The filing does not specify the counterparty or the nature of the agreement, but it signifies a change in a significant contractual relationship for the company.

Why It Matters

The termination of a material definitive agreement can impact future operations, revenue streams, or strategic partnerships for Coca-Cola Consolidated, Inc.

Risk Assessment

Risk Level: medium — The termination of a material definitive agreement suggests a significant event that could have financial or operational implications, but the lack of specific details warrants a medium risk assessment.

Key Players & Entities

FAQ

What was the material definitive agreement that was terminated?

The filing does not specify the details of the material definitive agreement that was terminated.

Who was the counterparty to the terminated agreement?

The filing does not disclose the identity of the counterparty to the terminated agreement.

What is the effective date of the termination?

The earliest event reported is June 20, 2024, which is the date of the report.

What are the potential financial implications of this termination for Coca-Cola Consolidated, Inc.?

The filing does not provide information on the potential financial implications of the termination.

Does this termination affect any ongoing business operations or partnerships?

The filing does not specify whether the termination affects ongoing business operations or partnerships.

From the Filing

0001193125-24-166951.txt : 20240624 0001193125-24-166951.hdr.sgml : 20240624 20240624161601 ACCESSION NUMBER: 0001193125-24-166951 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20240620 ITEM INFORMATION: Termination of a Material Definitive Agreement FILED AS OF DATE: 20240624 DATE AS OF CHANGE: 20240624 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Coca-Cola Consolidated, Inc. CENTRAL INDEX KEY: 0000317540 STANDARD INDUSTRIAL CLASSIFICATION: BOTTLED & CANNED SOFT DRINKS CARBONATED WATERS [2086] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 560950585 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-09286 FILM NUMBER: 241064457 BUSINESS ADDRESS: STREET 1: 4100 COCA COLA PLZ CITY: CHARLOTTE STATE: NC ZIP: 28211 BUSINESS PHONE: 9803928298 MAIL ADDRESS: STREET 1: 4100 COCA COLA PLZ CITY: CHARLOTTE STATE: NC ZIP: 28211 FORMER COMPANY: FORMER CONFORMED NAME: COCA COLA BOTTLING CO CONSOLIDATED /DE/ DATE OF NAME CHANGE: 19920703 8-K 1 d844488d8k.htm 8-K 8-K false 0000317540 0000317540 2024-06-20 2024-06-20     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): June 20, 2024     COCA-COLA CONSOLIDATED, INC. (Exact name of registrant as specified in its charter)       Delaware   0-9286   56-0950585 (State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.)   4100 Coca-Cola Plaza Charlotte , NC   28211 (Address of principal executive offices)   (Zip Code) Registrant’s telephone number, including area code: (980) 392-8298     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)) Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Stock, par value $1.00 per share   COKE   The NASDAQ Global Select Market 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. ☐       Item 1.02. Termination of a Material Definitive Agreement On June 20, 2024, Coca-Cola Consolidated, Inc. (the “Company”) gave notice, effective as of June 27, 2024, of its permanent reduction to zero of the commitments under its term loan agreement (the “Term Loan Agreement”) dated as of June 10, 2024 by and among the Company, Wells Fargo Bank, National Association (“Wells Fargo”), as administrative agent, and the other lenders party thereto. The Term Loan Agreement provided for a senior unsecured term loan facility in the aggregate principal amount of up to $800 million, maturing on June&#1

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