iROBOT CORPORATION (NASDAQ:IRBT) Files An 8-K Entry into a Material Definitive AgreementItem 2.03Entry into a Material Definitive Agreement.
On June29, 2018, iRobot Corporation (the “Company”) entered into a First Amendment to Amended and Restated Credit Agreement (the “Credit Facility Amendment”) to its existing unsecured revolving credit facility (the “Credit Facility”) with Bank of America, N.A. (the “Lender”) dated December 20, 2013, and a First Amendment to Amended and Restated Reimbursement Agreement (the “Reimbursement Agreement Amendment”) to its existing reimbursement agreement with the Lender dated December 20, 2013. Each of the Credit Facility Amendment and the Reimbursement Agreement Amendment provides for, among other things, the extension of the maturity date from December 20, 2018 to June30, 2023. The Credit Facility Amendment also provides for (i) the increase of the amount of the revolving line of credit available for borrowing from $75million to $150million; (ii) the increase of the amount of the incremental borrowing available under the Credit Facility at the Company’s option from $50million to $75million; and (iii) the increase of the minimum deposit requirements and related fees.
The foregoing description of the Credit Facility Amendment and the Reimbursement Agreement Amendment is not complete and is qualified in its entirety by reference to the Credit Facility Amendment and the Reimbursement Agreement Amendment, which are filed as Exhibits 10.1 and 10.2 hereto, respectively, and are incorporated herein by reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth in Item 2.03 above is hereby incorporated by reference in this Item 2.03.
Item 2.03Financial Statements and Exhibits.
(d)Exhibits:
IROBOT CORP ExhibitEX-10.1 2 boa-irobotxfirstamendmentt.htm EXHIBIT 10.1 Exhibit Exhibit 10.1FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENTTHIS FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”),…To view the full exhibit click here
About iROBOT CORPORATION (NASDAQ:IRBT)
iRobot Corporation is engaged in designing and building robots. The Company’s portfolio of solutions focus on technologies for the connected home and concepts in navigation, mobility, mapping and artificial intelligence. The Company operates through consumer robots segment. It designs robots for the consumer, telemedicine and mobile video collaboration markets. The Company’s brands include iRobot, Roomba, Scooba, Mint, ViPR, NorthStar, Create, iAdapt, Aware, Home Base, Looj, Braava, AeroForce, uPoint, AeroVac, Mirra and Virtual Wall. The Company offers multiple Roomba floor vacuuming robots. Its consumer products are focused on both indoor and outdoor cleaning applications. The Company focuses on behavior-based, artificially-intelligent systems developed to meet customer requirements in multiple market segments. The Company’s Braava automatic floor mopping robots are designed for hard surface floors. Its Looj Gutter Cleaning Robot cleans an entire stretch of gutter.