Driven Brands Enters Material Definitive Agreement
Ticker: DRVN · Form: 8-K · Filed: Jul 30, 2024 · CIK: 1804745
Sentiment: neutral
Topics: material-definitive-agreement, financial-obligation, 8-k
TL;DR
Driven Brands just signed a big deal, could be debt or something else important.
AI Summary
On July 29, 2024, Driven Brands Holdings Inc. entered into a material definitive agreement related to a financial obligation. The company, incorporated in Delaware, filed an 8-K report detailing this event. The filing also includes Regulation FD disclosures and financial statements.
Why It Matters
This filing indicates a significant financial transaction or commitment by Driven Brands Holdings Inc., which could impact its financial standing and future operations.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements, especially those involving financial obligations, can introduce financial risks and operational changes for the company.
Key Players & Entities
- Driven Brands Holdings Inc. (company) — Registrant
- July 29, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- 440 South Church Street, Suite 700 Charlotte, North Carolina (address) — Business and Mail Address
FAQ
What type of material definitive agreement did Driven Brands Holdings Inc. enter into?
The filing indicates the entry into a material definitive agreement related to 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 excerpt.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on July 29, 2024.
What is the state of incorporation for Driven Brands Holdings Inc.?
Driven Brands Holdings Inc. is incorporated in Delaware.
What is the business address of Driven Brands Holdings Inc.?
The business address of Driven Brands Holdings Inc. is 440 South Church Street, Suite 700, Charlotte, North Carolina.
What items are being reported in this 8-K filing?
This 8-K filing reports on the Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement, Regulation FD Disclosure, and Financial Statements and Exhibits.
Filing Stats: 1,395 words · 6 min read · ~5 pages · Grade level 10.2 · Accepted 2024-07-29 17:43:00
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value DRVN The Nasdaq Global Se
- $275 million — Holdings Inc. (the "Company")), issued $275 million of 6.372% 2024-1 Class A-2 Securitizati
- $400 million — ly 29, 2024, the Co-Issuers also issued $400 million of 2024-1 Class A-1 Securitization Seni
Filing Documents
- d28938d8k.htm (8-K) — 36KB
- d28938dex41.htm (EX-4.1) — 902KB
- d28938dex42.htm (EX-4.2) — 1546KB
- d28938dex101.htm (EX-10.1) — 690KB
- d28938dex991.htm (EX-99.1) — 6KB
- 0001193125-24-187768.txt ( ) — 3921KB
- drvn-20240729.xsd (EX-101.SCH) — 3KB
- drvn-20240729_lab.xml (EX-101.LAB) — 18KB
- drvn-20240729_pre.xml (EX-101.PRE) — 11KB
- d28938d8k_htm.xml (XML) — 4KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 4.1 Series 2024-1 Supplement, dated as of July 29, 2024, by and among Driven Brands Funding, LLC, as issuer, Driven Brands Canada Funding Corporation, as Canadian co-issuer, and Citibank, N.A., as trustee and Series 2024-1 securities intermediary 4.2 Amendment No. 11 to the Amended and Restated Base Indenture, dated as of July 29, 2024, among Driven Brands Funding, LLC, as issuer, Driven Brands Canada Funding Corporation, as Canadian co-issuer, and Citibank, N.A., as trustee 10.1 Class A-1 Note Purchase Agreement (Series 2024 Class A-1 Notes), dated as of July 29, 2024, by and among Driven Brands Funding, LLC, Driven Brands Canada Funding Corporation, Driven Funding Holdco, LLC, Driven Canada Funding HoldCo Corporation, certain subsidiaries of Driven Brands Funding, LLC and Driven Brands Canada Funding Corporation party thereto, Driven Brands, Inc., Driven Brands Canada Shared Services Inc., the conduit investors party thereto, the financial institutions party thereto, the funding agents party thereto, Barclays Bank PLC, New York Branch, as L/C provider, and Barclays Bank PLC, as swingline lender and Barclays Bank PLC, as administrative agent 99.1 Driven Brands Holdings Inc. News Release dated July 29, 2024 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document
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. DRIVEN BRANDS HOLDINGS INC. Date: July 29, 2024 By: /s/ Scott O'Melia Name: Scott O'Melia Title: Executive Vice President, General Counsel and Secretary