TILESHOPHOLDINGS,INC. (NASDAQ:TILE) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
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Entry into a Material Definitive Agreement |
On February 10, 2017, Tile Shop Holdings, Inc. (the Company), its
operating subsidiary, The Tile Shop, LLC, and certain other
subsidiaries of the Company entered into a Second Amendment to
Credit Agreement (the Second Amendment) with Fifth Third Bank,
Bank of America, N.A., and The Huntington National Bank. The
Second Amendment amends the Credit Agreement, dated June 2, 2015,
among the Company, Fifth Third Bank, Bank of America, N.A., and
The Huntington National Bank and certain other parties thereto
(the Credit Agreement) to permit the Company to declare and make
dividend payments or other distributions to its stockholders.
Previously, on December 9, 2016, the Company, its operating
subsidiary, The Tile Shop, LLC, and certain other subsidiaries of
the Company entered into a First Amendment to Credit Agreement
(the First Amendment) with Fifth Third Bank, Bank of America,
N.A., and The Huntington National Bank. The First Amendment
amends the Credit Agreement to permit the Company to enter into
an additional New Markets Tax Credit Financing in connection with
its Oklahoma distribution center. This New Markets Tax Credit
Financing closed in December 2016.
Except as specifically amended by the Second Amendment and the
First Amendment, all of the terms and conditions set forth in the
Credit Agreement remain unchanged and in full force and effect.
The foregoing descriptions of the Second Amendment and the First
Amendment are not complete and are qualified in their entirety by
reference to such agreements, which are attached hereto as
Exhibits 10.1 and 10.2, respectively, and are incorporated herein
by reference.
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Item 2.02 |
Results of Operations and Financial Condition. |
On February14, 2017, Tile Shop Holdings, Inc. (the Company)
issued a press release announcing its financial results for the
three months and fiscal yearended December31, 2016. A copy of the
press release is furnished as Exhibit 99.1 hereto and is
incorporated herein by reference.
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8 |
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Item 8.01 |
Other Events. |
OnFebruary14, 2017, the Company issued a press release announcing
its declaration of a cash dividend of $0.05 per share to
stockholders of record as of March14, 2017. The dividend will be
paid on March24, 2017. A copy of the press release is attached as
Exhibit 99.2 hereto and is incorporated herein by reference.
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Item 9.01 |
Financial Statements and Exhibits. |
(d) Exhibits.
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10.1 |
Second Amendment to Credit Agreement, dated February 10, |
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10.2 |
First Amendment to Credit Agreement, dated December 9, |
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99.1 |
Press Release of Tile Shop Holdings, Inc., dated February |
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99.2 |
Press Release of Tile Shop Holdings, Inc., dated February |
About TILE SHOP HOLDINGS, INC. (NASDAQ:TILE)
Interface Inc. is engaged in design, production and sales of modular carpet, also known as carpet tile across the world. The Company markets its modular carpets in over 110 countries under the brand names Interface and FLOR. The Company distributes its product through approximately two primary channels, including direct sales to end users and indirect sales through independent contractors or distributors. The Company sells an antimicrobial chemical compound under the trademark Intersept that the Company incorporates in all of its modular carpet products. It also sells its TacTiles carpet tile installation system, along with a range of traditional adhesives and products for carpet installation and maintenance that are manufactured by a third-party. In addition, it manufactures and sells its Intercell brand raised/access flooring product in Europe. It also provides turnkey project management services for national accounts and other customers through its InterfaceSERVICES business. TILE SHOP HOLDINGS, INC. (NASDAQ:TILE) Recent Trading Information
TILE SHOP HOLDINGS, INC. (NASDAQ:TILE) closed its last trading session up +0.20 at 17.95 with 477,416 shares trading hands.