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 10, 2020

APEX GLOBAL BRANDS INC.

(Exact name of registrant as specified in its charter)

Delaware

    

0‑18640

    

95‑4182437

(State or Other Jurisdiction of

 

(Commission

 

(I.R.S. Employer

Incorporation)

 

File Number)

 

Identification Number)

 

5990 Sepulveda Boulevard

Sherman Oaks, California 91411

(Address of Principal Executive Offices) (Zip Code)

(818) 908‑9868

(Registrant’s telephone number, including area code)

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 $0.02 per share

 

APEX

 

The Nasdaq Capital 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

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 Material Definitive Agreement.

On April 10, 2020, Apex Global Brands Inc. entered into an Amendment to Forbearance Period with its senior secured lenders, Gordon Brothers Finance Company and Gordon Brothers Brands (the “Amended Forbearance Agreement”), which extended the termination date of the existing forbearance agreement to April 24, 2020 and lowered our minimum cash requirement to $500,000 from $700,000 through the termination of the Amended Forbearance Agreement.

The description of the Amended Forbearance Agreement set forth in this Current Report on Form 8-K is intended to be a summary and does not purport to be complete.  As a result, such description is subject to, and qualified in its entirety by reference to, the applicable document, which will be filed as an exhibit to our next periodic filing.

 

Item 2.03

Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

   Reference is made to the disclosure regarding the Amended Forbearance Agreement under Item 1.01 above, which is incorporate herein by this reference.


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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.

 

APEX GLOBAL BRANDS INC.

 

 

 

 

April 16, 2020

By:

/s/ Steven L. Brink

 

 

Steven L. Brink

 

 

Chief Financial Officer

 

 

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