Attached files
| file | filename |
|---|---|
| EX-10.1 - THIRD AMENDMENT TO REVOLVING CREDIT AND SECURITY AGREEMENT - SKULLCANDY, INC. | d473897dex101.htm |
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)
January 25, 2013
SKULLCANDY, INC.
(Exact name of registrant as specified in charter)
| Delaware | 001-35240 | 56-2362196 | ||
| (State or other jurisdiction | (Commission File Number) | (IRS Employer | ||
| of incorporation) | Identification No.) |
| 1441 West Ute. Blvd, Suite 250 Park City, Utah |
84098 | |
| (Address of principal executive offices) | (Zip Code) |
(435) 940-1545
(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:
| ¨ | 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)) |
| Item 1.01. | Entry into a Material Definitive Agreement |
On January 25, 2013, Skullcandy, Inc. (the “Company”) and AG Acquisition Corporation (together with the Company, the “Borrowers”) entered into an Third Amendment to Revolving Credit and Security Agreement (the “Amendment”), with the financial institutions thereto (the “Lenders”), UPS Capital Corporation, as foreign collateral agent for the Lenders and PNC Bank, National Association, as administrative agent for the Lenders. The Amendment amended that certain Revolving Credit and Security Agreement, dated August 31, 2010, as amended on October 25, 2011, by that certain First Amendment and Waiver to Revolving Credit and Security Agreement, as further amended by that certain Amendment to Revolving Credit and Security Agreement, dated March 6, 2012, between the parties thereto. The Amendment allows for the Company to buy back up to $28.0 million of its outstanding common stock.
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, filed as Exhibit 10.1 hereto and incorporated herein by reference.
| Item 2.03 | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant |
The information set forth in Item 1.01 above is incorporated by reference into this Item 2.03.
| Item 9.01 | Exhibits. |
(d) Exhibits
| 10.1 | Third Amendment to Revolving Credit and Security Agreement, dated January 25, 2013, by and among Skullcandy, Inc., AG Acquisition Corporation, the financial institutions thereto, UPS Capital Corporation and PNC Bank, Nation Association | |
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.
Date: January 28, 2013
| SKULLCANDY, INC. | ||
| By: | /s/ Jeremy Andrus | |
| Jeremy Andrus | ||
| President and Chief Executive Officer | ||
EXHIBIT INDEX
| Exhibit Number |
Exhibit Description | |
| 10.1 | Third Amendment to Revolving Credit and Security Agreement, dated January 25, 2013, by and among Skullcandy, Inc., AG Acquisition Corporation, the financial institutions thereto, UPS Capital Corporation and PNC Bank, Nation Association. | |