Manitowoc Company Enters/Terminates Agreements
Ticker: MTW · Form: 8-K · Filed: Sep 19, 2024 · CIK: 61986
Sentiment: neutral
Topics: material-agreement, financial-obligation, agreement-termination
TL;DR
MAN just signed and axed some big deals, need to see the details.
AI Summary
The Manitowoc Company, Inc. entered into a material definitive agreement on September 18, 2024, related to a direct financial obligation. The company also terminated a material definitive agreement on the same date. Specific details regarding the nature of these agreements and their financial implications were not fully disclosed in the provided text.
Why It Matters
This filing indicates significant changes in the company's contractual and financial obligations, which could impact its future financial performance and operational structure.
Risk Assessment
Risk Level: medium — The filing involves material definitive agreements and financial obligations, suggesting potential impacts on the company's financial health and strategic direction.
Key Players & Entities
- The Manitowoc Company, Inc. (company) — Registrant
- September 18, 2024 (date) — Date of earliest event reported
FAQ
What was the nature of the material definitive agreement entered into by Manitowoc Company, Inc. on September 18, 2024?
The filing states that Manitowoc Company, Inc. entered into a material definitive agreement on September 18, 2024, which created a direct financial obligation or an obligation under an off-balance sheet arrangement. Specific details of the agreement were not provided in the excerpt.
What was the material definitive agreement that Manitowoc Company, Inc. terminated on September 18, 2024?
The filing indicates that Manitowoc Company, Inc. terminated a material definitive agreement on September 18, 2024. The specific terms or nature of this terminated agreement are not detailed in the provided text.
What is the principal executive office address for The Manitowoc Company, Inc.?
The principal executive offices of The Manitowoc Company, Inc. are located at 11270 West Park Place, Suite 1000, Milwaukee, Wisconsin, 53224.
What is the IRS Employer Identification Number for The Manitowoc Company, Inc.?
The IRS Employer Identification Number for The Manitowoc Company, Inc. is 39-0448110.
What is the SIC code for The Manitowoc Company, Inc.?
The Standard Industrial Classification (SIC) code for The Manitowoc Company, Inc. is 3531, which corresponds to CONSTRUCTION MACHINERY & EQUIP.
Filing Stats: 2,342 words · 9 min read · ~8 pages · Grade level 13.5 · Accepted 2024-09-19 16:24:09
Key Financial Figures
- $300,000,000 — nt to the Indenture, the Company issued $300,000,000 in aggregate principal amount of 9.250%
- $325,000,000 — ased revolving credit facility of up to $325,000,000 (the " ABL Credit Facility "), subject
Filing Documents
- mtw-20240918.htm (8-K) — 72KB
- mtw-ex4_1.htm (EX-4.1) — 1344KB
- mtw-ex10_1.htm (EX-10.1) — 2213KB
- img30200692_0.jpg (GRAPHIC) — 3KB
- 0000950170-24-108117.txt ( ) — 4299KB
- mtw-20240918.xsd (EX-101.SCH) — 25KB
- mtw-20240918_htm.xml (XML) — 5KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 4.1 Indenture, dated September 19, 2024, between The Manitowoc Company, Inc., the subsidiary guarantors party thereto and U.S. Bank Trust Company, National Association, as trustee and as collateral agent. 4.2 Form of 9.250% Senior Secured Second Lien Note due 2031 (included as Exhibit 1 to Annex I of Exhibit 4.1). 10.1 Amendment No. 3, dated as of September 18, 2024 to Credit Agreement dated March 25, 2019, among The Manitowoc Company, Inc., the other borrowers and loan parties party thereto, JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and certain financial institutions party thereto as lenders. 104 Cover Page Interactive Data File (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. THE MANITOWOC COMPANY, INC. (Registrant) Date: September 19, 2024 By: /s/ Brian P. Regan Brian P. Regan Executive Vice President and Chief Financial Officer