Attached files
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| EX-10.1 - EXHIBIT 10.1 - Kaspien Holdings Inc. | brhc10022816_ex10-1.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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): April 7, 2021
Kaspien Holdings Inc.
(Exact Name of Registrant as Specified in Charter)
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New York
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0-14818
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14-1541629
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(State or Other Jurisdiction of Incorporation)
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(Commission File Number)
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(I.R.S. Employer Identification No.)
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2818 N. Sullivan Rd. Ste 30
Spokane, WA 99216
(Address of Principal Executive Offices, and Zip Code)
(855) 300-2710
Registrant’s Telephone Number, Including Area Code
n/a
(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):
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☐
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Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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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. ☐
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Common shares, $0.01 par value per share
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KSPN
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NASDAQ Stock Market
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| Item 1.01 |
Entry Into A Material Definitive Agreement.
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Amendment No. 2 to Loan and Security Agreement
On April 7, 2021, Kaspien Holdings Inc. (the “Company”) and Kaspien Inc. (“Kaspien,” and together with the Company, the “Loan Parties”), a wholly-owned subsidiary of the Company, entered into that
certain Amendment No. 2 to Loan and Security Agreement (the “Second Amendment”) with Encina Business Credit, LLC (“Encina”), as administrative agent, and the lenders party thereto, pursuant to which the parties thereto amended the Loan and Security
Agreement, dated as of February 20, 2020 and amended as of March 30, 2020 (the “Loan Agreement”), between the Company, Kaspien, Encina and the lenders party thereto.
Pursuant to the Second Amendment, the In-Transit Inventory Sublimit (as defined in the Loan Agreement) was increased from $2,000,000 to $2,500,000.
The foregoing description of the Second Amendment does not purport to be complete and is qualified in its entirety by reference to the complete text of the Second Amendment, a copy of which is filed as
Exhibit 10.1 to this Current Report on Form 8-K, and is 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.
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The information set forth in Item 1.01 (under the heading “Amendment No. 2 to Loan and Security Agreement”) of this Current Report on Form 8-K is incorporated
herein by reference.
| Item 9.01 |
Financial Statements and Exhibits.
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| (d) EXHIBITS. |
The following are furnished as Exhibits to this Report:
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Exhibit
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No.
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Description
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Amendment No. 2 to Loan and Security Agreement
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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.
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Dated: April 8, 2021
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Kaspien Holding Inc.
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By:
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/s/ Edwin Sapienza
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Name: Edwin Sapienza
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Title: Chief Financial Officer
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