SMART Global Holdings Secures $150M Term Loan Facility
Ticker: PENG · Form: 8-K · Filed: 2024-08-06T00:00:00.000Z
Sentiment: neutral
Topics: debt-financing, material-definitive-agreement, financial-obligation
TL;DR
SMART Global Holdings just got a $150M loan. Big cash infusion incoming.
AI Summary
On July 31, 2024, SMART Global Holdings, Inc. entered into a Material Definitive Agreement, specifically a Term Loan Facility with an aggregate principal amount of $150.0 million. This agreement creates a direct financial obligation for the registrant. The filing also notes the creation of a direct financial obligation under an off-balance sheet arrangement and reports on unregistered sales of equity securities.
Why It Matters
This new $150 million loan facility provides SMART Global Holdings with significant financial flexibility, potentially impacting its ability to fund operations, investments, or acquisitions.
Risk Assessment
Risk Level: medium — The company is taking on new debt, which increases its financial leverage and potential risk if it cannot meet its repayment obligations.
Key Numbers
- $150.0M — Term Loan Facility (Provides new financing for the company.)
Key Players & Entities
- SMART Global Holdings, Inc. (company) — Registrant
- $150.0 million (dollar_amount) — Principal amount of Term Loan Facility
- July 31, 2024 (date) — Date of Material Definitive Agreement
FAQ
What are the key terms and conditions of the $150.0 million Term Loan Facility?
The filing indicates the entry into a Material Definitive Agreement for a Term Loan Facility with an aggregate principal amount of $150.0 million, but specific terms are not detailed in this summary.
What is the purpose of the $150.0 million Term Loan Facility?
The filing does not explicitly state the purpose of the Term Loan Facility, but it represents a direct financial obligation for SMART Global Holdings, Inc.
When was the Material Definitive Agreement for the Term Loan Facility entered into?
The agreement was entered into on July 31, 2024.
What other significant events are reported in this 8-K filing besides the loan agreement?
The filing also reports the creation of a direct financial obligation under an off-balance sheet arrangement and unregistered sales of equity securities.
What is the company's primary business according to the filing?
SMART Global Holdings, Inc. is in the SEMICONDUCTORS & RELATED DEVICES industry, SIC code 3674.
From the Filing
0001193125-24-194920.txt : 20240806 0001193125-24-194920.hdr.sgml : 20240806 20240806162532 ACCESSION NUMBER: 0001193125-24-194920 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 23 CONFORMED PERIOD OF REPORT: 20240731 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Unregistered Sales of Equity Securities ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240806 DATE AS OF CHANGE: 20240806 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SMART Global Holdings, Inc. CENTRAL INDEX KEY: 0001616533 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 981013909 STATE OF INCORPORATION: E9 FISCAL YEAR END: 0826 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-38102 FILM NUMBER: 241179726 BUSINESS ADDRESS: STREET 1: 39870 EUREKA DRIVE CITY: NEWARK STATE: CA ZIP: 94560-4809 BUSINESS PHONE: (510) 623-1231 MAIL ADDRESS: STREET 1: 39870 EUREKA DRIVE CITY: NEWARK STATE: CA ZIP: 94560-4809 8-K 1 d878059d8k.htm 8-K 8-K false 0001616533 0001616533 2024-07-31 2024-07-31     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): July 31, 2024     SMART GLOBAL HOLDINGS, INC. (Exact name of registrant as specified in its charter)       Cayman Islands   001-38102   98-1013909 (State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.) c/o Walkers Corporate Limited 190 Elgin Avenue George Town , Grand Cayman Cayman Islands KY1-9008 (Address of principal executive offices) (Zip Code) (510) 623-1231 (Registrant’s telephone number, including area code) Not Applicable (Former name or former address, if changed since last report)     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 Ordinary shares, $0.03 par value per share   SGH   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 1.01 Entry Into a Material Definitive Agreement. Indenture and Convertible Senior Notes On August 6, 2024, SMART Global Holdings, Inc. (the “Company”) issued $175.0 million aggregate principal amount of the Company’s 2.00% Convertible Senior Notes due 2030 (the “Notes”) pursuant to an indenture, dated August 6, 2024 (the “Indenture