Driven Brands Files 8-K/A Amendment
Ticker: DRVN · Form: 8-K/A · Filed: Nov 20, 2024 · CIK: 1804745
Sentiment: neutral
Topics: amendment, financial-statements, filing-update
TL;DR
Driven Brands filed an amendment to its 8-K, likely updating financial docs from June 5.
AI Summary
Driven Brands Holdings Inc. filed an 8-K/A amendment on November 20, 2024, related to an event that occurred on June 5, 2024. The filing pertains to financial statements and exhibits, indicating a potential update or correction to previously reported information.
Why It Matters
This amendment suggests Driven Brands is providing updated or corrected financial information, which could impact investor understanding of the company's financial health.
Risk Assessment
Risk Level: low — This is a routine amendment to a previous filing, not indicating new negative events.
Key Numbers
- 001-39898 — Commission file number (Identifies the specific SEC filing series for Driven Brands Holdings Inc.)
- 47-3595252 — I.R.S. Employer Identification No. (Tax identification number for Driven Brands Holdings Inc.)
Key Players & Entities
- Driven Brands Holdings Inc. (company) — Registrant
- June 5, 2024 (date) — Earliest event date
- November 20, 2024 (date) — Filing date
- Delaware (jurisdiction) — State of incorporation
- Charlotte, North Carolina (location) — Principal executive offices
FAQ
What specific financial statements or exhibits are being amended or supplemented by this 8-K/A filing?
The filing indicates 'Financial Statements and Exhibits' as an item information, suggesting updates or corrections to these sections, but the specific details of what is being amended are not provided in this header information.
Why was an amendment (8-K/A) necessary for the event reported on June 5, 2024?
An 8-K/A is filed to amend a previously filed Current Report on Form 8-K. The reason for the amendment is not detailed in the provided header, but it typically involves correcting or supplementing information.
What is the significance of the filing date of November 20, 2024, in relation to the event date of June 5, 2024?
The filing date of November 20, 2024, is when the amendment was officially submitted to the SEC, while June 5, 2024, is the date of the earliest event being reported on or amended.
What business activities does Driven Brands Holdings Inc. primarily engage in, according to the filing?
Driven Brands Holdings Inc. is classified under 'SERVICES-AUTOMOTIVE REPAIR, SERVICES & PARKING [7500]'.
Has Driven Brands Holdings Inc. operated under any former names?
Yes, the company formerly operated as RC Driven Holdings LLC, with a date of name change on February 26, 2020.
Filing Stats: 808 words · 3 min read · ~3 pages · Grade level 10.1 · Accepted 2024-11-20 08:02:02
Key Financial Figures
- $0.01 — t: Title of each class Common Stock, $0.01 par value Trading Symbol DRVN Name
- $650,000 — The Company subsequently agreed to pay $650,000 in attorneys' fees and expenses in full
Filing Documents
- drvn-20240605.htm (8-K/A) — 29KB
- 0001804745-24-000034.txt ( ) — 153KB
- drvn-20240605.xsd (EX-101.SCH) — 2KB
- drvn-20240605_lab.xml (EX-101.LAB) — 22KB
- drvn-20240605_pre.xml (EX-101.PRE) — 13KB
- drvn-20240605_htm.xml (XML) — 3KB
01. Other Events
Item 8.01. Other Events. As previously disclosed, on June 5, 2024, the Company entered into the A&R Stockholders Agreement with the Principal Stockholders party thereto in light of recent developments in Delaware and to render moot pending stockholder demand letters and the Action. On June 10, 2024, the Court of Chancery of the State of Delaware (the "Court") entered a Notice and Order Voluntarily Dismissing the Action as Moot and Retaining Jurisdiction to Determine Plaintiff's Counsel's Application for an Award of Attorneys' Fees & Reimbursement of Expenses. The Company subsequently agreed to pay $650,000 in attorneys' fees and expenses in full satisfaction of any and all claims by the litigation plaintiff and his counsel for fees and expenses in the Action. In addition, the award of attorneys' fees and expenses will cover any claim to a mootness fee that may be asserted by the two stockholders who made litigation demands or their counsel. On November 8, 2024, the Court entered an order closing the Action, subject to the Company filing an affidavit with the Court confirming that this notice has been issued. In entering the order, the Court was not asked to review, and did not pass judgment on, the payment of the attorneys' fees and expenses or their reasonableness. Plaintiff's counsel is Kimberly A. Evans of Block & Leviton LLP (302) 499- 3600. Counsel to the Company and Directors Jonathan Fitzpatrick, Catherine Halligan, Rick Puckett, Karen Stroup, Peter Swinburn, and Jose Toms is Michael Pittenger of Potter Anderson & Corroon LLP, (302) 984-6000. Counsel to the Roark entities and Directors Neal K. Aronson, Chadwick Hume, and Michael Thompson is Matthew D. Stachel of Paul, Weiss, Rifkind, Wharton & Garrison LLP (302) 655- 4410.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 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: November 20, 2024 By: /s/ Scott O'Melia Name: Scott O'Melia Title: Executive Vice President, General Counsel and Secretary