Dover Motorsports, Inc. (NYSE:DVD) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement
On September 24, 2019, Dover Motorsports, Inc. and its wholly owned subsidiaries Dover International Speedway, Inc. and Nashville Speedway, USA, Inc., (collectively, the “Borrowers”), modified its credit agreement with its bank group. Among other things, the credit facility was modified to: extend the maturity date to January 1, 2022; reduce the total available borrowings under the facility to $30,000,000; and ensure compliance with applicable regulations. There are no borrowings outstanding under the credit facility.
A copy of the modification agreement is attached hereto as Exhibit 10.1.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| 10.1 | Fourth Loan Modification and Reaffirmation Agreement between Dover Motorsports, Inc., Dover International Speedway, Inc. and Nashville Speedway, USA, Inc. and Citizens Bank, N.A., as agent, dated as of September 24, 2019. |
DOVER MOTORSPORTS INC Exhibit
EX-10.1 2 d786738dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 FOURTH LOAN MODIFICATION AND REAFFIRMATION AGREEMENT THIS FOURTH LOAN MODIFICATION AND REAFFIRMATION AGREEMENT (this “Agreement”) is dated as of the 24th day of September,…
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About Dover Motorsports, Inc. (NYSE:DVD)
Dover Motorsports, Inc. is a marketer and promoter of motorsports entertainment in the United States. The Company, through its subsidiaries, owns and operates Dover International Speedway in Dover, Delaware, and Nashville Superspeedway near Nashville, Tennessee. The Dover International Speedway is located in Dover, Delaware, on approximately 770 acres of land. The Nashville Superspeedway is a motorsports complex located on approximately 1,400 acres of land in Wilson County and Rutherford County, Tennessee. The Company promotes approximately six National Association for Stock Car Auto Racing (NASCAR)-sanctioned events at the Dover International Speedway, including two races in the NASCAR Sprint Cup Series professional stock car racing circuit, two races in the NASCAR XFINITY Series racing circuit, one race in the NASCAR Camping World Truck Series racing circuit and one race in the NASCAR K&N Pro Series East racing circuit.
