SITE Centers Corp. Terminates Material Definitive Agreement
Ticker: SITC · Form: 8-K · Filed: Aug 19, 2024 · CIK: 894315
Sentiment: neutral
Topics: material-agreement-termination, corporate-event
TL;DR
SITE Centers terminated a big deal, expect market reaction.
AI Summary
SITE Centers Corp. announced on August 15, 2024, the termination of a material definitive agreement. The company, incorporated in Ohio, filed this 8-K report to disclose this event. No specific details regarding the agreement or the counterparty were provided in this filing.
Why It Matters
The termination of a material definitive agreement can significantly impact a company's financial performance and strategic direction, potentially affecting its stock price.
Risk Assessment
Risk Level: medium — Termination of a material definitive agreement suggests a significant business event that could have financial implications, warranting a medium risk assessment.
Key Players & Entities
- SITE Centers Corp. (company) — Registrant
- Ohio (location) — State of Incorporation
- August 15, 2024 (date) — Date of earliest event reported
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 other party involved in the terminated agreement.
What is the effective date of the termination?
The earliest event reported is August 15, 2024, which is also the date of the change.
What is the principal executive office address of SITE Centers Corp.?
The principal executive offices are located at 3300 Enterprise Parkway, Beachwood, Ohio 44122.
What is the IRS Employer Identification Number for SITE Centers Corp.?
The IRS Employer Identification Number for SITE Centers Corp. is 34-1723097.
Filing Stats: 579 words · 2 min read · ~2 pages · Grade level 11.8 · Accepted 2024-08-19 16:05:08
Key Financial Figures
- $0.10 — h registered Common Shares, Par Value $0.10 Per Share SITC New York Stock Excha
- $200.0 million — e Term Loan Agreement was approximately $200.0 million. SIGNATURES Pursuant to the require
Filing Documents
- sitc-20240815.htm (8-K) — 38KB
- 0000950170-24-098499.txt ( ) — 177KB
- sitc-20240815.xsd (EX-101.SCH) — 43KB
- sitc-20240815_htm.xml (XML) — 6KB
02 Termination of a Material Definitive Agreement
Item 1.02 Termination of a Material Definitive Agreement. On August 15, 2024, SITE Centers Corp. (the "Company") repaid in full all outstanding amounts under the Fourth Amended and Restated Credit Agreement, dated as of June 6, 2022 (the "Revolving Credit Agreement"), among the Company, JPMorgan Chase Bank, N.A., as administrative agent, and the lenders from time to time party thereto. Simultaneously with such repayment, the Company permanently terminated the lenders' commitments under the Revolving Credit Agreement in accordance with the terms thereof. At the time of termination of the lenders' commitments, there were no revolving loans outstanding under the Revolving Credit Agreement. The terms of the Revolving Credit Agreement are summarized in the Company's Current Report on Form 8-K (File No. 001-11690) filed with the Securities and Exchange Commission on June 6, 2022, which are incorporated herein by reference.
01 Other Events
Item 8.01 Other Events. On August 15, 2024, the Company repaid in full all outstanding amounts under the Third Amended and Restated Term Loan Agreement, dated as of June 6, 2022 (the "Term Loan Agreement"), among the Company, Wells Fargo National Bank, as administrative agent, and the lenders from time to time party thereto. At the time of the repayment, the principal amount outstanding under the Term Loan Agreement was approximately $200.0 million.
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. Date: August 19, 2024 By: /s/ Aaron M. Kitlowski Executive Vice President, General Counsel and Secretary