SEC Info - Delta Apparel, Inc. - ‘8-K’ for 2/26/24

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Delta Apparel, Inc. – ‘8-K’ for 2/26/24

On: Tuesday, 2/27/24, at 6:34pm ET · As of: 2/28/24 · For: 2/26/24 · Accession #: 1437749-24-5767 · File #: 1-15583

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/28/24  Delta Apparel, Inc.               8-K:1,9     2/26/24   12:298K                                   RDG Filings/FA

Current Report — Form 8-K

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                      HTML     28K 
 2: EX-10.1     Material Contract                                   HTML    118K 
 7: R1          Document And Entity Information                     HTML     46K 
 9: XML         IDEA XML File -- Filing Summary                      XML     12K 
12: XML         XBRL Instance -- dla20240227_8k_htm                  XML     14K 
 8: EXCEL       IDEA Workbook of Financial Report Info              XLSX      8K 
 4: EX-101.DEF  XBRL Definitions -- dla-20240226_def                 XML     37K 
 5: EX-101.LAB  XBRL Labels -- dla-20240226_lab                      XML     47K 
 6: EX-101.PRE  XBRL Presentations -- dla-20240226_pre               XML     36K 
 3: EX-101.SCH  XBRL Schema -- dla-20240226                          XSD     14K 
10: JSON        XBRL Instance as JSON Data -- MetaLinks               12±    19K 
11: ZIP         XBRL Zipped Folder -- 0001437749-24-005767-xbrl      Zip     40K

‘8-K’ — Current Report

This is an HTML Document rendered as filed. [ Alternative Formats ]

iX: C:

i false i 0001101396 0001101396 2024-02-26 2024-02-26

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM i 8-K

CURRENT REPORT PURSUANT

TO SECTION 13 or 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

DATE OF REPORT (Date of earliest event reported): i February 26, 2024

i DELTA APPAREL, INC.

(Exact name of registrant as specified in its charter)

	i Georgia
	(State or Other Jurisdiction of Incorporation)

i 1-15583		i 58-2508794
(Commission File Number)		(IRS Employer Identification No.)

i 2750 Premiere Pkwy., Suite 100, i Duluth, i Georgia 30097		i 30097
(Address of principal executive offices)		(Zip Code)

	( i 678) i 775-6900
(Registrant's Telephone Number Including Area Code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below)

i ☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

i ☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

i ☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

i ☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Large accelerated filer	Accelerated filer	Non-accelerated filer	Smaller reporting company	Emerging growth company
☐	☒	☐	☒	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. i ☐

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
i Common	i DLA	i NYSE American

Item 1.01 Entry into a Material Definitive Agreement.

On February 26, 2024, Delta Apparel, Inc. (the “Company”) entered into an agreement providing for the sale and long-term leaseback of its approximately 35-acre campus in Fayetteville, North Carolina containing approximately 550,000 square feet of industrial space utilized across the Company’s various business units for manufacturing, decoration, distribution and other activities. The purchase price for the property is $23.5 million and the Company expects the contemplated transaction to provide net proceeds (after tax and transaction-related costs) of approximately $22 million.

The transaction is expected to close on or around May 1, 2024, with the purchaser’s obligation to close subject to inspection, due diligence and other customary closing conditions. The Company plans to continue operations at the Fayetteville, North Carolina campus uninterrupted and, as a condition to the closing of the transaction, the Company will enter into a long-term lease agreement with the purchaser anticipated to have an initial term of 10.5 years.

The Company intends to utilize the aggregate net proceeds realized from the transaction to repay outstanding borrowings under its asset-based revolving credit facility and generate additional liquidity within its operations.

Item 9.01 Financial Statements and Exhibits.

Exhibit Number	Description

10.1	Real Estate Purchase and Sale Contract between Delta Apparel, Inc. and Elkay Partners NY LLC, made and entered into as of February 26, 2024

104	Cover Page Interactive Data File (formatted as Inline XBRL).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		DELTA APPAREL, INC.


Date:	February 27, 2024	/s/ *Justin M. Grow*
		Justin M. Grow
		Executive Vice President and Chief Administrative Officer

Dates Referenced Herein and Documents Incorporated by Reference

This ‘8-K’ Filing	Date	Other Filings

	5/1/24
Filed as of:	2/28/24
Filed on:	2/27/24
For Period end:	2/26/24	8-K
		List all Filings

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Filing Submission 0001437749-24-005767 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)