Tapestry, Inc. Enters New Agreement, Terminates Another

TL;DR

Tapestry just signed a new deal and ditched an old one, plus took on new financial obligations.

AI Summary

On May 22, 2025, Tapestry, Inc. entered into a material definitive agreement and simultaneously terminated another. The company also created a direct financial obligation or an obligation under an off-balance sheet arrangement. Specific details regarding the agreements, terminations, and financial obligations were not provided in this filing excerpt.

Why It Matters

This filing indicates significant changes in Tapestry's contractual and financial obligations, which could impact its future operations and financial health.

Risk Assessment

Risk Level: medium — The filing indicates material definitive agreements and new financial obligations, which inherently carry some level of risk and require further investigation.

Key Players & Entities

• Tapestry, Inc. (company) — Registrant
• May 22, 2025 (date) — Date of earliest event reported
• 10 Hudson Yards (location) — Principal executive offices address
• New York, NY 10001 (location) — Principal executive offices address
• 2129468400 (phone_number) — Registrant's telephone number

FAQ

From the Filing

0001140361-25-020276.txt : 20250523 0001140361-25-020276.hdr.sgml : 20250523 20250523064543 ACCESSION NUMBER: 0001140361-25-020276 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20250522 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Termination of 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: Financial Statements and Exhibits FILED AS OF DATE: 20250523 DATE AS OF CHANGE: 20250523 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TAPESTRY, INC. CENTRAL INDEX KEY: 0001116132 STANDARD INDUSTRIAL CLASSIFICATION: LEATHER & LEATHER PRODUCTS [3100] ORGANIZATION NAME: 04 Manufacturing EIN: 522242751 STATE OF INCORPORATION: MD FISCAL YEAR END: 0627 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-16153 FILM NUMBER: 25979205 BUSINESS ADDRESS: STREET 1: 10 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 BUSINESS PHONE: 2129468400 MAIL ADDRESS: STREET 1: 10 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 FORMER COMPANY: FORMER CONFORMED NAME: COACH INC DATE OF NAME CHANGE: 20000605 8-K 1 ef20049426_8k.htm 8-K false 0001116132 0001116132 2025-05-22 2025-05-22 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): May 22, 2025 Tapestry, Inc. (Exact name of registrant as specified in its charter) Maryland   1-16153   52-2242751 (State of Incorporation)   (Commission File Number)   (IRS Employer Identification No.) 10 Hudson Yards , New York , NY 10001 (Address of principal executive offices) (Zip Code) ( 212 ) 946-8400 (Registrant’s telephone number, including area code) 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)) 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. ☐ Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.01 par value TPR New York Stock Exchange Item 1.01 Entry into a Material Definitive Agreement On May 22, 2025, Tapestry, Inc. (the “Company”) entered into a definitive agreement to refinance and replace the Company’s unsecured revolving facility dated May 11, 2022 (the “Existing Credit Facility”) with a new revolving credit facility (the “New Revolving Credit Facility”), among the Company, as borrower, Bank of America, N.A., as administrative agent (the “Administrative Agent”), and a syndicate of banks and financial institutions (collectively, the “Lenders”). Under the New Revolving Credit Facility, the Lenders have made available to the Company a $2 billion unsecured revolving credit facility, including sub facilities for letters of credit, with a ma