Attached files
| file | filename |
|---|---|
| EX-10.2 - EX-10.2 - Gas Natural Inc. | d250489dex102.htm |
| EX-10.1 - EX-10.1 - Gas Natural Inc. | d250489dex101.htm |
| EX-99.1 - EX-99.1 - Gas Natural Inc. | d250489dex991.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: November 2, 2011
(Date of earliest event reported)
Gas Natural Inc.
(Exact name of registrant as specified in its charter)
| Ohio |
001-34585 |
27-3003768 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) | ||
| 1 First Avenue South, Great Falls, Montana |
59401 | |||
| (Address of principal executive offices) | (Zip Code) | |||
(800) 570-5688
(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)) |
| Item 1.01. | Entry Into a Material Definitive Agreement. |
On June 29, 2007, Energy West, Incorporated (one of our subsidiaries) entered into a $20.0 million revolving credit facility with the Bank of America, N.A. (formerly LaSalle Bank National Association). The credit facility includes an annual commitment fee equal to 0.20% of the unused portion of the facility and interest on amounts outstanding at the monthly London Interbank Offered Rate (“LIBOR”) plus 120 to 145 basis points for interest periods selected by Energy West. The balance on the revolving credit facility was $17.6 million at September 30, 2011. On November 2, 2011, we entered into a reaffirmation and first amendment to credit facility with Bank of America increasing the maximum amount available under the credit facility to $30.0 million and issued an amended and substitute note in that amount. The expanded credit facility includes an annual commitment fee ranging from 0.25% to 0.45% of the unused portion of the facility and interest on the amounts outstanding at LIBOR plus 175 to 225 basis points. In addition, Energy West was required to pay $50,000 to execute the reaffirmation and first amendment to credit facility.
The reaffirmation and first amendment to credit facility and amended and substitute note are attached to this Form 8-K as exhibits. The description of the amendment above is a summary and is qualified by the full text of the attached amendment.
| Item 2.03 | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant |
The disclosures set forth under Item 1.01 of this current report on Form 8-K are incorporated by reference herein.
| Item 9.01 | Financial Statements and Exhibits |
| (d) | Exhibits. |
| Exhibit No. | Description | |
| 10.1 | Reaffirmation and First Amendment to Credit Facility dated November 2, 2011 among Bank of America, N.A., as agent, Energy West, Incorporated, Energy West Propane, Inc., Energy West Resources, Inc. and Energy West Development, Inc. | |
| 10.2 | Amended and Substitute Note dated November 2, 2011 of Energy West, Incorporated payable to Bank of America, N.A., as agent, in the original principal amount of $30.0 million | |
| 99.1 | Press Release dated November 2, 2011 | |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Gas Natural Inc. | ||
| By: | /s/ Thomas J. Smith | |
| Name: | Thomas J. Smith | |
| Title: | Chief Financial Officer | |
Dated November 4, 2011
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