SiteOne Landscape Supply Enters Material Definitive Agreement
Ticker: SITE · Form: 8-K · Filed: Jul 2, 2024 · CIK: 1650729
Sentiment: neutral
Topics: material-definitive-agreement, financial-obligation
TL;DR
SiteOne Landscape Supply just signed a big deal, could be debt or a new partnership.
AI Summary
On July 2, 2024, SiteOne Landscape Supply, Inc. entered into a Material Definitive Agreement related to a financial obligation. The company, incorporated in Delaware with its principal office in Roswell, Georgia, filed this 8-K report to disclose this significant event.
Why It Matters
This filing indicates a new material agreement, which could involve significant financial commitments or strategic partnerships for SiteOne Landscape Supply.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements can introduce new financial obligations or strategic shifts that carry inherent risks.
Key Numbers
- 001-37760 — SEC File Number (Identifies the company's filing with the SEC.)
- 30076 — ZIP Code (Part of the company's business address.)
Key Players & Entities
- SiteOne Landscape Supply, Inc. (company) — Registrant
- July 2, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- Roswell, Georgia (location) — Business address
FAQ
What type of Material Definitive Agreement did SiteOne Landscape Supply enter into?
The filing indicates the entry into a Material Definitive Agreement and a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement, but the specific details of the agreement are not provided in this summary.
When was this agreement reported?
The report was filed on July 2, 2024, and the earliest event reported was also on July 2, 2024.
What is SiteOne Landscape Supply's state of incorporation?
SiteOne Landscape Supply, Inc. is incorporated in Delaware.
Where is SiteOne Landscape Supply's principal place of business?
The company's business address is located at 300 Colonial Parkway, Suite 600, Roswell, Georgia 30076.
What is the SEC file number for SiteOne Landscape Supply?
The SEC file number for SiteOne Landscape Supply, Inc. is 001-37760.
Filing Stats: 870 words · 3 min read · ~3 pages · Grade level 12.6 · Accepted 2024-07-02 17:10:17
Key Financial Figures
- $0.01 — ch Registered Common Stock, par value $0.01 per share SITE New York Stock Exchang
- $393 million — egate principal amount of approximately $393 million in term loans ("Tranche B Term Loans"),
Filing Documents
- tm2418646d1_8k.htm (8-K) — 31KB
- tm2418646d1_ex10-1.htm (EX-10.1) — 1423KB
- tm2418646d1_8kimg001.jpg (GRAPHIC) — 27KB
- 0001104659-24-077406.txt ( ) — 1992KB
- site-20240702.xsd (EX-101.SCH) — 3KB
- site-20240702_lab.xml (EX-101.LAB) — 33KB
- site-20240702_pre.xml (EX-101.PRE) — 22KB
- tm2418646d1_8k_htm.xml (XML) — 4KB
01
Item 1.01. Entry into a Material Definitive Agreement. SiteOne Landscape Supply, Inc. (the "Company") announced that certain of its subsidiaries have entered into the Second Amendment to the Second Amended and Restated Credit Agreement, dated as of July 2, 2024 (the "Second Amendment"), by and among SiteOne Landscape Supply Holding, LLC ("Holding"), SiteOne Landscape Supply, LLC (the "OpCo Borrower" and, together with Holding, the "Borrowers"), the several banks and other financial institutions party thereto, and JPMorgan Chase Bank, N.A., as administrative agent and collateral agent (the "Administrative Agent") that amends and restates the Second Amended and Restated Credit Agreement, dated as of March 23, 2021 (as amended, restated, supplemented or otherwise modified prior to the effectiveness of the Second Amendment, the "Existing Credit Agreement"; the Existing Credit Agreement as amended by the Second Amendment, the "Credit Agreement"), among the Borrowers, the several banks and other financial institutions party thereto from time to time and the Administrative Agent. The Second Amendment provides for an aggregate principal amount of approximately $393 million in term loans ("Tranche B Term Loans"), and makes certain other changes to the Existing Credit Agreement. Proceeds of the Tranche B Term Loans were used, among other things, (i) to repay in full the Initial Term Loans (as defined in the Credit Agreement) outstanding under the Existing Credit Agreement immediately prior to the effectiveness of the Second Amendment, (ii) to pay fees, costs and expenses related to the foregoing transactions and (iii) to finance the working capital, capital expenditures, business requirements and for general corporate purposes of Holding and its subsidiaries. The Tranche B Term Loans bear interest, at Holding's option, at either (i) Term SOFR (as defined in the Credit Agreement) plus an applicable margin equal to 1.75% per annum (with a Term SOFR floor of 0.50%) or (ii) a
03
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information contained in Item 1.01 concerning the Company's direct financial obligations under the Credit Agreement is hereby incorporated herein by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Second Amendment to the Second Amended and Restated Credit Agreement, dated as of July 2, 2024, by and among SiteOne Landscape Supply Holding, LLC, SiteOne Landscape Supply, LLC, the several banks and other financial institutions party thereto, and JPMorgan Chase Bank, N.A., as administrative agent and collateral agent. 104 Cover Page Interactive Data File (formatted as Inline XBRL)
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. SITEONE LANDSCAPE SUPPLY, INC. By: /s/ Briley Brisendine Name: Briley Brisendine Title: Executive Vice President, General Counsel and Secretary Date: July 2, 2024