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Altra Industrial Motion Corp. – ‘8-K’ for 5/27/20

On:  Friday, 5/29/20, at 4:30pm ET   ·   For:  5/27/20   ·   Accession #:  1564590-20-27636   ·   File #:  1-33209

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

 5/29/20  Altra Industrial Motion Corp.     8-K:8       5/27/20   10:157K                                   ActiveDisclosure/FA

Current Report   —   Form 8-K   —   Sect. 13 / 15(d) – SEA’34
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‘8-K’   —   Current Report


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 i false  i 0001374535 0001374535 2020-05-27 2020-05-27

 

 

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 May 27, 2020

 

 i ALTRA INDUSTRIAL MOTION CORP.

(exact name of registrant as specified in its charter)

 

 

 i Delaware

 i 001-33209

 i 61-1478870

(State or other jurisdiction

of incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

 

 

 

 i 300 Granite Street,  i Suite 201,

 i Braintree,  i MA

 

 i 02184

(Address of principal executive offices)

 

(Zip Code)

Registrant’s telephone number, including area code: ( i 781)  i 917-0600

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))

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 Stock (par value $0.001)

 

 i AIMC

 

 i NASDAQ Global Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company  i 

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. 

 

 

 

 


 

Item 8.01Other Events

As previously disclosed, Altra Industrial Motion Corporation (the “Company”) is party to a credit agreement (the “Altra Credit Agreement”) dated October 1, 2018. The Altra Credit Agreement provides for a seven-year senior secured term loan in an aggregate principal amount of $1,340.0 million (the “Altra Term Loan Facility”) and a five-year senior secured revolving credit facility in an aggregate committed principal amount of $300.0 million (the “Altra Revolving Credit Facility”).  A copy of the Altra Credit Agreement was filed as an exhibit to the Company’s 8-K filed with the Securities and Exchange Commission (the "SEC") on October 1, 2019.

 

On May 27, 2020 the Company provided notice to the administrative agent of the Altra Credit Agreement to repay $35 million under the Altra Revolving Credit Facility. The Company previously disclosed in its 8-K filed with the SEC on March 19, 2020 that it had provided notice to the administrative agent of the Altra Credit Agreement on March 9, 2020 and March 16, 2020 to draw down $50 million and $50 million, respectively, under the Altra Revolving Credit Facility. At that time, the Company had increased its borrowings under the Altra Revolving Credit Facility as a precautionary action in order to increase its cash position and enhance its financial flexibility during this period of uncertainty in the global markets resulting from the COVID-19 pandemic. The Company previously disclosed in its 8-K filed with the SEC on April 16, 2020 that it had provided notice to the administrative agent on April 14, 2020, to repay $50 million outstanding under the Altra Revolving Credit Facility. The Company also provided notice to the administrative agent on April 27, 2020, to repay an additional $15 million outstanding under the Altra Revolving Credit Facility. Upon execution of the instructions given on May 27, 2020, the Company will have repaid all borrowings outstanding under the Altra Revolving Credit Facility. The Company could make further borrowings and had approximately $295.6 million available to borrow under the Altra Revolving Credit Facility as of May 27, 2020.

 

 

 

 

 


 

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.

 

 

Altra Industrial Motion Corp.

 

 

 

 

 

 

 

By:

/s/ Carl R. Chistenson

 

 

 

Name: Carl R. Christenson

 

 

Title:

Chairman and Chief Executive Officer

 

 

 

 

Date:  May 29, 2020

 

 

 

1


Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘8-K’ Filing    Date    Other Filings
Filed on:5/29/20SD
For Period end:5/27/20
4/27/20
4/16/208-K,  DEFA14A
4/14/208-K
3/19/208-K
3/16/204,  8-K
3/9/20
10/1/19
10/1/183,  8-K,  8-K/A,  SC 13G
 List all Filings 
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