Hovnanian Enterprises Files 8-K on New Agreements

TL;DR

HOV filed an 8-K for a new material agreement and financial obligation. Check details.

AI Summary

On September 10, 2025, Hovnanian Enterprises, Inc. filed an 8-K report detailing a material definitive agreement and a direct financial obligation. The filing indicates the company entered into a new agreement and incurred a new financial obligation, the specifics of which are detailed within the report.

Why It Matters

This filing signals a new material definitive agreement and a direct financial obligation for Hovnanian Enterprises, which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — The filing indicates new material agreements and financial obligations, which inherently carry financial risks that need further investigation.

Key Players & Entities

• HOVNANIAN ENTERPRISES, INC. (company) — Registrant
• September 10, 2025 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of Incorporation
• 90 Matawan Road, Fifth Floor, Matawan, New Jersey 07747 (address) — Principal Executive Offices

FAQ

Key Financial Figures

• $0.01 — which registered Class A Common Stock $0.01 par value per share HOV New York St
• $125.0 million — party thereto, which provides for up to $125.0 million in aggregate amount of senior secured f
• $450.0 million — vate offering (the "Notes Offering") of $450.0 million aggregate principal amount of Senior No
• $900,000,000 — oceeds to K. Hovnanian of not less than $900,000,000 (the "Financing Condition"). In accorda

Filing Documents

• hov-20250910.htm (8-K) — 46KB
• ex101_1.htm (EX-10.1) — 1898KB
• ex991_2.htm (EX-99.1) — 27KB
• 0001753926-25-001449.txt ( ) — 2411KB
• hov-20250910_def.xml (EX-101.DEF) — 19KB
• hov-20250910_pre.xml (EX-101.PRE) — 19KB
• hov-20250910_cal.xml (EX-101.CAL) — 1KB
• hov-20250910_lab.xml (EX-101.LAB) — 25KB
• hov-20250910.xsd (EX-101.SCH) — 4KB
• hov-20250910_htm.xml (XML) — 7KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. Fourth Amendment to Credit Agreement On September 10, 2025, Hovnanian Enterprises, Inc. (the "Company"), K. Hovnanian Enterprises, Inc. ("K. Hovnanian"), a wholly-owned subsidiary of the Company, and other subsidiaries of the Company as guarantors (the "Subsidiary Guarantors") entered into the Fourth Amendment (the "Fourth Amendment") to the Credit Agreement, dated as of October 31, 2019 (as amended by the First Amendment to the Credit Agreement, dated as of November 27, 2019, by the Second Amendment to the Credit Agreement, dated as of August 19, 2022 and by the Third Amendment to the Credit Agreement, dated as of September 25, 2023), by and among K. Hovnanian, the Company, the other guarantors party thereto, Wilmington Trust, National Association, as administrative agent, and the lenders party thereto, which provides for up to $125.0 million in aggregate amount of senior secured first lien revolving loans (the "Revolving Credit Facility"). Upon effectiveness of the amendments set forth therein, the Fourth Amendment will (i) extend the final scheduled maturity of the Revolving Credit Facility from June 30, 2026 to June 30, 2028 and (ii) provide for certain other amendments. Borrowings under the Revolving Credit Facility will bear interest, at K. Hovnanian's option, at either (a) a term SOFR rate (subject to a floor of 3.00%) plus an applicable margin of 4.50% or (b) an alternate base rate (subject to a floor of 4.00%) plus an applicable margin of 3.50%. In addition, K. Hovnanian will pay an unused commitment fee on the undrawn revolving commitments at a rate of 1.00% per annum. The foregoing amendments are expected to take effect on or about the end of September, subject to the satisfaction of customary closing conditions. The foregoing summary of the Fourth Amendment does not purport to be complete and is qualified in its entirety by reference to the text of the Fourth Amendment filed as Exhibit 10.1 to

01 Other Events

Item 8.01 Other Events. On September 10, 2025, the Company issued a press release announcing the commencement of a private offering (the "Notes Offering") of $450.0 million aggregate principal amount of Senior Notes due 2031 (the "2031 Notes") and $450.0 million aggregate principal amount of Senior Notes due 2033 (the "2033 Notes" and together with the 2031 Notes, the "Notes") to be issued by K. Hovnanian. K. Hovnanian intends to use the net proceeds from the Notes Offering to (i) fund the redemption of the entire outstanding principal amount of its 8.0% Senior Secured 1.125 Lien Notes due 2028 (the "1.125 Lien Notes") at a redemption price equal to 104.000% of the principal amount thereof and the entire outstanding principal amount of its 11.75% Senior Secured 1.25 Lien Notes due 2029 (the "1.25 Lien Notes" and together with the 1.125 Lien Notes, the "Existing Secured Notes") at a redemption price equal to 100.000% of the principal amount thereof plus the applicable "make-whole" premium, in each case, plus accrued and unpaid interest to, but excluding, the redemption date, (ii) repay in full all outstanding loans under its Senior Secured 1.75 Lien Term Loan Facility due 2028 (the "Existing Term Loan Facility") at par, plus accrued and unpaid interest to, but excluding, the prepayment date and (iii) pay all fees and expenses related thereto and the Notes Offering. A copy of the press release announcing the Notes Offering is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The Notes have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), any state securities laws or the securities laws of any other jurisdiction, and may not be offered or sold in the United States, or for the benefit of U.S. persons, except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities or blue sky laws. Accordingly, the

Financial Statements and Exhibits

Financial Statements and Exhibits . (d) Exhibits. 10.1 Fourth Amendment, dated as of September 10, 2025, to the Credit Agreement, dated as of October 31, 2019, among K. Hovnanian Enterprises, Inc., Hovnanian Enterprises, Inc., the subsidiary guarantors named therein, Wilmington Trust, National Association, as Administrative Agent, and the lenders party thereto. 99.1 Press Release, dated September 10, 2025. 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. HOVNANIAN ENTERPRISES, INC. (Registrant) By: /s/ Brad G. O'Connor Name: Brad G. O'Connor Title: Chief Financial Officer Date: September 10, 2025

View Full Filing

View this 8-K filing on SEC EDGAR