Attached files
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| EX-10.1 - EXHIBIT 10.1 - IAA, Inc. | ex10_1.htm |
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 6, 2020
IAA, Inc.
(Exact name of Registrant as specified in its charter)
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Delaware
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001-38580
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83-1030538
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(State or other jurisdiction of
incorporation)
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(Commission File Number)
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(I.R.S. Employer
Identification No.)
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Two Westbrook Corporate Center, Suite 500
Westchester, Illinois
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60154
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(Address of principal executive offices)
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(Zip code)
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(708) 492-7000
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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| ☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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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).
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Emerging growth company
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☐
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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.
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☐
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Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Common Stock, par value $0.01 per share
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IAA
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New York Stock Exchange
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| Item 1.01 |
Entry into a Material Definitive Agreement.
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On May 1, 2020, IAA, Inc. (the “Company”) entered into an Incremental Commitment Agreement No. 1 (the “Incremental Agreement”), by and among the Company, certain domestic subsidiaries of the Company party thereto, the
several lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent. The Incremental Agreement was entered pursuant to that certain Credit Agreement, dated as of June 28, 2019 (the “Credit Agreement” and, as amended by the Incremental
Agreement, the “Amended Credit Agreement”), by and among the Company, the lenders party thereto, the issuing lenders party thereto and the administrative agent. The Incremental Agreement provides for an increase to available revolving commitments under
the Amended Credit Agreement by an additional $136 million, the proceeds of which may be used for working capital and general corporate purposes. The aggregate revolving commitments under the Amended Credit Agreement is now equal to $361 million.
The foregoing description of the Incremental Agreement set forth under this Item 1.01 does not purport to be complete and is qualified in its entirety by reference to the full text of the Incremental Agreement, which is
filed as Exhibit 10.1 and which is incorporated herein by reference.
| Item 9.01. |
Exhibits.
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| (d) |
Exhibits
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Exhibit
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Description
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Incremental Commitment Agreement No. 1, dated as of May 1, 2020, among IAA, Inc., certain subsidiaries of the Company party thereto, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent.
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SIGNATURE
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.
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IAA, Inc.
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By:
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/s/ Vance C. Johnston | |
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Name:
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Vance C. Johnston
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Title:
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Executive Vice-President, Chief Financial Officer
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Dated: May 6, 2020
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