FRED’S, INC. (NASDAQ:FRED) Files An 8-K Entry into a Material Definitive Agreement
ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
its subsidiaries entered into an amendment (the Amendment) to
that certain Credit Agreement, dated as of April 19, 2015, by and
among the Company and certain of its subsidiaries, Regions Bank,
in its capacity as administrative agent, collateral agent and
lender, and Bank of America, N.A., in its capacity as lender (as
amended, the Credit Agreement).
Credit Agreement to provide that a Change in Control is deemed to
occur, among other events, upon the acquisition of ownership,
directly or indirectly, beneficially or of record, by any person
or group (within the meaning of the Securities Exchange Act of
1934, as amended and then in effect (the Exchange Act)) of 40% or
more of the outstanding shares of the voting equity interests of
the Company. Previously, the Credit Agreement provided that a
Change in Control is deemed to occur, among other events, upon
the acquisition of ownership, directly or indirectly,
beneficially or of record, by any person or group of 30% or more
of the outstanding shares of the voting equity interests of the
Company.
under the Credit Agreement have in the past provided, or may in
the future provide, investment banking, underwriting, lending,
commercial banking, trust and other advisory services to the
Company, its subsidiaries or affiliates. These parties have
received, and may in the future receive, customary compensation
from the Company, its subsidiaries or affiliates, for such
services.
entirety by reference to the Amendment, which is filed as Exhibit
10.1 to this Current Report on Form 8-K and is incorporated
herein by reference.
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(d)
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Exhibits.
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10.1
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Second Amendment to Credit Agreement, dated as of December
28, 2016, by and among Freds, Inc. and certain of its subsidiaries, Regions Bank, in its capacity as administrative agent, collateral agent and lender, and Bank of America, N.A., in its capacity as lender. |
About FRED’S, INC. (NASDAQ:FRED)
Fred’s, Inc. (Fred’s) is engaged in the sale of general merchandise through its retail discount stores and full service pharmacies. The Company sells general merchandise to its over 20 franchisees. The Company has approximately 660 retail stores, over 370 pharmacies, and approximately three specialty pharmacy facilities located in over 15 states mainly in the Southeastern United States. The Company is licensed to dispense pharmaceuticals in approximately 50 states. The Company operates approximately 640 company-owned stores, including over 60 express stores (or Xpress stores). Fred’s is a combination of pharmacy, dollar store and mass merchant strategically located in smaller markets. It offers various product categories, including consumables, such as tobacco, food and beverage, prescription pharmaceuticals, paper and cleaning supplies, pet supplies, health and beauty aids, and discretionary products, such as home decor, seasonal merchandise, auto and hardware, and lawn and garden. FRED’S, INC. (NASDAQ:FRED) Recent Trading Information
FRED’S, INC. (NASDAQ:FRED) closed its last trading session up +0.01 at 18.56 with 910,597 shares trading hands.
