Qorvo, Inc. (NASDAQ:QRVO) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.
On June 24, 2019, Qorvo, Inc. (the “Company”) and certain material domestic subsidiaries of the Company (the “Guarantors”) entered into the Third Amendment to that certain Credit Agreement, dated as of December 5, 2017 and as previously amended, by and between the Company, the Guarantors, Bank of America, N.A. and a syndicate of lenders (the “Amendment”). The Amendment, among other things, further extends the delayed draw availability period from June 30, 2019 until December 31, 2019. The foregoing summary is not complete and is qualified in its entirety by reference to the Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 8.01. Other Events.
On June 25, 2019, the Company completed its offer to exchange up to $900 million aggregate principal amount of its outstanding 5.50% Senior Notes due 2026 (the “Existing Notes”) for an equivalent amount of its $900 million aggregate principal amount 5.50% Senior Notes due 2026 registered under the Securities Act of 1933, as amended (the “New Notes”). The registered exchange offer, which expired at 5:00 p.m., New York City time, on June 21, 2019, fulfilled the Company’s obligations regarding the registration of the Existing Notes under the registration rights agreements entered into in connection with the issuances of the Existing Notes. All of the holders of the Existing Notes participated in the exchange offer, and the Company exchanged all of the outstanding Existing Notes that were tendered by the holders of those notes for the New Notes. The New Notes contain substantially identical terms to the Existing Notes.
Item 9.01. Financial Statements and Exhibits.>
(d) Exhibits >>>
Qorvo, Inc. Exhibit
EX-10.1 2 qorvo-june2019xthirdamendm.htm EXHIBIT 10.1 Exhibit THIRD AMENDMENT TO CREDIT AGREEMENTTHIS THIRD AMENDMENT TO CREDIT AGREEMENT (this “Agreement”) is entered into as of June 24,…
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About Qorvo, Inc. (NASDAQ:QRVO)
Qorvo, Inc. is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs). Its segments include Mobile Products (MP) and Infrastructure and Defense Products (IDP). The MP segment is a supplier of radio frequency (RF) solutions that perform various functions in the cellular radio front end section of smartphones and other cellular devices. The IDP segment is a supplier of RF solutions that support various global applications, including ubiquitous high-speed network connectivity to the cloud, data center communications, Internet connectivity throughout the home and workplace, and upgraded military capabilities across the globe. It operates design, sales and manufacturing facilities located throughout Asia, Europe and North America.
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