Global Water Resources Enters Material Definitive Agreement

TL;DR

GWRS inked a major deal, expect financial updates soon.

AI Summary

Global Water Resources, Inc. entered into a material definitive agreement on July 1, 2024, related to a direct financial obligation. The company, headquartered in Phoenix, Arizona, filed this 8-K report on July 3, 2024, to disclose this significant financial event.

Why It Matters

This filing indicates a significant financial commitment or obligation for Global Water Resources, Inc., which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements and direct financial obligations can introduce financial risks and obligations that require careful monitoring.

Key Players & Entities

• Global Water Resources, Inc. (company) — Registrant
• July 1, 2024 (date) — Date of earliest event reported
• July 3, 2024 (date) — Date of report
• Phoenix, Arizona (location) — Company headquarters

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share GWRS The NASDAQ Stock Market,
• $15.0 million — provides the Company up to a maximum of $15.0 million principal amount for borrowing. On Ju

Filing Documents

• gwrs-20240701.htm (8-K) — 31KB
• exhibit101-fifthmodificati.htm (EX-10.1) — 62KB
• 0001434728-24-000252.txt ( ) — 253KB
• gwrs-20240701.xsd (EX-101.SCH) — 2KB
• gwrs-20240701_def.xml (EX-101.DEF) — 15KB
• gwrs-20240701_lab.xml (EX-101.LAB) — 26KB
• gwrs-20240701_pre.xml (EX-101.PRE) — 15KB
• gwrs-20240701_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. As previously disclosed, on April 30, 2020, Global Water Resources, Inc. (the "Company") entered into an agreement (as subsequently amended, the "Loan Agreement") with The Northern Trust Company, an Illinois banking corporation ("Northern Trust"), for a revolving line of credit that currently provides the Company up to a maximum of $15.0 million principal amount for borrowing. On July 1, 2024 , the Company and Northern Trust entered into the fifth amendment to the Loan Agreement (the "Fifth Modification Agreement") to further amend the terms and conditions set forth in the amended Loan Agreement to, among other things, extend the scheduled maturity date from July 1, 2025 to July 1, 2026. The Fifth Modification Agreement contains customary representations, warranties and covenants consistent with the Loan Agreement. The foregoing description of the Fifth Modification Agreement is only a summary and is qualified in its entirety by reference to the full text of such agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information required by this Item 2.03 is included in Item 1.01 of this Current Report on Form 8-K and is incorporated by reference herein .

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Fifth Modification Agreement, dated July 1, 2024, by and between Global Water Resources, Inc. and The Northern Trust Company 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. GLOBAL WATER RESOURCES, INC. Date: July 3, 2024 /s/ Michael J. Liebman Michael J. Liebman Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR