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Weyco Group Inc. – ‘8-K’ for 9/28/22

On:  Friday, 9/30/22, at 3:38pm ET   ·   For:  9/28/22   ·   Accession #:  1104659-22-104551   ·   File #:  0-09068

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

 9/30/22  Weyco Group Inc.                  8-K:2,9     9/28/22   12:773K                                   Toppan Merrill/FA

Current Report   —   Form 8-K

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                      HTML     29K 
 3: EX-10.10    Material Contract                                   HTML     12K 
 2: EX-10.9     Material Contract                                   HTML    477K 
 7: R1          Cover                                               HTML     47K 
10: XML         IDEA XML File -- Filing Summary                      XML     12K 
 8: XML         XBRL Instance -- tm2226981d1_8k_htm                  XML     15K 
 9: EXCEL       IDEA Workbook of Financial Reports                  XLSX      8K 
 5: EX-101.LAB  XBRL Labels -- weys-20220928_lab                     XML     97K 
 6: EX-101.PRE  XBRL Presentations -- weys-20220928_pre              XML     64K 
 4: EX-101.SCH  XBRL Schema -- weys-20220928                         XSD     12K 
11: JSON        XBRL Instance as JSON Data -- MetaLinks               25±    33K 
12: ZIP         XBRL Zipped Folder -- 0001104659-22-104551-xbrl      Zip    110K 


‘8-K’   —   Current Report


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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 September 28, 2022

 

 i WEYCO GROUP, INC.

(Exact name of registrant as specified in its charter)

 

 i Wisconsin    i 0-9068    i 39-0702200

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

 i 333 W. Estabrook Blvd.

 i P. O. Box 1188

 i Milwaukee,  i WI

   i 53201
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: ( i 414)  i 908-1600

 

 

(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:

 

 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 240.13a-4(c))

 

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

 

Title of each class Trading Symbol Name of each exchange on which registered
 i Common Stock - $1.00 par value per share  i WEYS  i The Nasdaq Stock Market

 

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

 

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. ¨

 

 

 

 C: 

 

 

 

Item 2.03 Creation of a Direct Financial Obligation.

 

On September 28, 2022, Weyco Group, Inc. (the “Company”) entered into the Second Amendment to Credit Agreement (“Second Amendment”) amending its revolving credit facility under the Credit Agreement dated as of November 4, 2020, with Associated Bank, National Association, restated as of November 4, 2021 (as amended by the Second Amendment, the “Amended Credit Agreement”). The Second Amendment extends the maturity of the credit facility to September 28, 2023, increases the Company’s available borrowing limit from $40.0 million to $50.0 million, and replaces the LIBOR benchmark used for determining interest rates on outstanding advances. Under the terms of the Amended Credit Agreement, amounts outstanding bear interest at the one-month term secured overnight financing rate (“SOFR”) plus 145 basis points. The Amended Credit Agreement is secured by a security interest in Company’s general business assets, and contains customary representations, warranties and covenants (including a minimum tangible net worth financial covenant) for a facility of this type. The foregoing description of the Second Amendment does not purport to be complete and is qualified in its entirety by reference to the Amended Credit Agreement attached as Exhibit A to the Second Amendment, and the Second Amended and Restated Revolving Loan Note dated September 28, 2022, which are filed as Exhibits 10.9 and 10.10, respectively, to this Form 8-K.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

10.9 Second Amendment to Credit Agreement, dated as of September 28, 2022

 

10.10 Second Amended and Restated Revolving Loan Note, dated September 28, 2022

 

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

*      *      *      *      *

 

 C: 

 

 

 

Signature

 

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.

 

Date:   September 30, 2022 WEYCO GROUP, INC.
   
  /s/ Judy Anderson
  Judy Anderson
  Vice President, Chief Financial Officer and Secretary

 

 C: 

 

 

 C: 

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘8-K’ Filing    Date    Other Filings
9/28/23
Filed on:9/30/224
For Period end:9/28/22
11/4/21
11/4/20
 List all Filings 


2 Subsequent Filings that Reference this Filing

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

 3/13/23  Weyco Group Inc.                  10-K       12/31/22  116:11M                                    Toppan Merrill/FA2
11/07/22  Weyco Group Inc.                  10-Q        9/30/22   74:7.7M                                   Toppan Merrill/FA2
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