WILHELMINA INTERNATIONAL, INC. (NASDAQ:WHLM) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement

On July 16, 2018, Wilhelmina International, Inc. (the “Company”) entered into a Tenth Amendment to Credit Agreement effective July 12, 2018 (the “Tenth Amendment”) with ZB, N.A. dba Amegy Bank. The Tenth Amendment provides for an additional term loan of up to $1,000,000 which may be drawn by the Company through July 12, 2019, for the purpose of repurchases of its common stock. The additional term loan is evidenced by a promissory note (the “Second Term Note”) bearing interest at 5.15% per annum and payable in monthly installments of interest only through July 12, 2019. Thereafter, the Second Term Note is payable in monthly installments sufficient to fully amortize the outstanding principal balance in 60 months with the balance of principal and accrued interest due on July 12, 2023. The Company may prepay the Second Term Note at any time or from time to time without penalty.

The Tenth Amendment also revises the calculation of the fixed charge coverage ratio for the three quarters following the maturity date of the currently outstanding term loan, provided that such term loan is paid in full on or before its maturity date.

The foregoing description of the Tenth Amendment and Second Term Note is qualified in its entirety by reference to the definitive agreements filed as an exhibit to this Current Report on Form 8-K and incorporated herein by this reference.

(c)Exhibits.

Wilhelmina International, Inc. Exhibit
EX-10.1 2 exh_101.htm EXHIBIT 10.1 Exhibit 10.1   TENTH AMENDMENT TO CREDIT AGREEMENT     This TENTH AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is made effective and executed as of July 12,…
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About WILHELMINA INTERNATIONAL, INC. (NASDAQ:WHLM)

Wilhelmina International, Inc. is engaged in fashion model management. The Company provides fashion model and talent management services, specializing in the representation and management of models, entertainers, artists, athletes and other talent to various customers and clients, including retailers, designers, advertising agencies and catalog companies. The Company conducts its business through operating divisions and subsidiaries engaged in fashion model management and other complementary businesses. These business activities are focused on fashion model management, hair and make-up artist representation, celebrity management, licensing and branding associations (including contests, consumer products, events and television). It is focused on providing fashion modeling and talent product-endorsement services to clients, such as advertising agencies, branded consumer goods companies, fashion designers, magazines, retailers, department stores, product catalogs and Internet sites.