Current Report Filing (8-k)
10 Novembro 2022 - 08:05AM
Edgar (US Regulatory)
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2022-11-08 2022-11-08 iso4217:USD xbrli:shares iso4217:USD
xbrli:shares
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
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): November
8, 2022
FOSSIL GROUP, INC.
(Exact name of registrant as specified in its charter)
Delaware
|
001-41040
|
75-2018505
|
(State or other jurisdiction of
incorporation or organization)
|
(Commission File
Number)
|
(IRS Employer
Identification No.)
|
901 S. Central Expressway
Richardson,
Texas
(Address of principal executive offices)
|
75080
(Zip Code)
|
Registrant’s telephone number, including area code (972)
234-2525
(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):
¨ Written communications
pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
¨ Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
¨ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
¨ 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 |
Common Stock, par value $0.01 per share |
|
FOSL |
|
The Nasdaq Stock Market LLC |
7.00% Senior Notes due 2026 |
|
FOSLL |
|
The Nasdaq Stock Market LLC |
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
¨
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 1.01 Entry into a Material Definitive Agreement.
On November 8, 2022, Fossil Group, Inc. (the “Company”)
entered into Amendment No. 4 (the “Amendment”) to the Credit
Agreement, dated as of September 26, 2019 among the Company,
as a U.S. borrower and borrower representative, certain
subsidiaries of the Company party thereto as borrowers and
guarantors, JPMorgan Chase Bank, N.A., as administrative agent, and
the other agents and lenders party thereto. The Amendment, among
other things, (i) extends the maturity date of the credit
facility to November 8, 2027 (provided, that if the Company
has any indebtedness in an amount in excess of $35 million that
matures prior to November 8, 2027, the maturity date of the
credit facility shall be the 91st day prior to the maturity date of
such other indebtedness) and (ii) changes the calculation
methodology of the borrowing base to include the value of certain
of the Company’s intellectual property in such methodology and to
provide for seasonal increases to certain advance rates.
From time to time, certain of the lenders have provided, or may in
the future provide, various investment banking, commercial banking,
financial advisory, brokerage and other services to the Company and
its affiliates for which services they have received, and may in
the future receive, customary fees and expense reimbursement. The
lenders and their affiliates may, from time to time, engage in
transactions with and perform services for the Company in the
ordinary course of their business for which they may receive
customary fees and reimbursement of expenses.
The foregoing description of the Amendment does not purport to be
complete and is qualified in its entirety by reference to the full
text of the Amendment, a copy of which is attached hereto as
Exhibit 10.1 is incorporated by reference into this Item
1.01.
Item 9.01 Financial Statements and Exhibits.
(d) |
Exhibits |
|
|
Exhibit No. |
Document Description |
|
|
10.1 |
Amendment No. 4, dated as of
November 8, 2022, among Fossil Group, Inc., Fossil
Partners, L.P., Fossil Intermediate, Inc., Fossil Stores
I, Inc., Fossil Trust, Fossil Group GmbH, Fossil Asia Pacific
Limited, Fossil (Europe) GmbH, Fossil (UK) Limited, Fossil Canada
Inc., Fossil France SAS, Fossil Stores France SAS, FAST Europe
SARL, and JPMorgan Chase Bank, N.A., as administrative agent, and
the other agents and lenders party thereto. |
|
|
104 |
Cover Page
Interactive Data File (embedded within the Inline XBRL
document). |
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.
|
FOSSIL GROUP, INC. |
|
|
Date: November 10, 2022 |
By: |
/s/ Sunil M.
Doshi |
|
Name: |
Sunil M. Doshi |
|
Title: |
Executive Vice President, Chief Financial Officer and
Treasurer |
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