UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
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Securities Exchange Act of 1934
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Item 1.01. Entry into a Material Definitive Agreement.
As previously disclosed, on July 20, 2016, Manitex International, Inc. (the “Company”) and certain of its subsidiaries entered into a Loan and Security Agreement (as amended, the “Loan Agreement”) with CIBC Bank, USA (“CIBC”) (formerly known as The Private Bank and Trust Company). The Loan Agreement provides the Company with a revolving credit facility. The Loan Agreement was subsequently amended by a First Amendment dated as of August 4, 2016, a Second Amendment dated as of September 30, 2016, a Third Amendment dated as of November 8, 2016, a Fourth Amendment dated as of February 10, 2017, a Fifth Amendment dated as of April 26, 2017, a Sixth Amendment dated as of March 9, 2018, a Seventh Amendment dated as of July 23, 2018, and an Eighth Amendment dated as of September 30, 2019.
On December 22, 2020, the parties to the Loan Agreement entered into a ninth amendment to the Loan Agreement (the “Ninth Amendment”). The main modifications to the Loan Agreement resulting from the Ninth Amendment are as follows:
| • | modifying certain financial covenants, including the Fixed Charge Coverage Ratio and minimum EBITDA covenant; and |
| • | instituting a LIBOR floor of 50 basis points. |
The foregoing description of the Ninth Amendment is qualified in its entirety by reference to the full text of the Ninth Amendment, which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| Exhibit |
Description | |
| 10.1 | Ninth Amendment to Loan and Security Agreement, dated as of December 22,2020, by and among Manitex International, Inc., Manitex Inc., Manitex Sabre, Inc., Badger Equipment Company, Crane and Machinery, Inc., Crane and Machinery Leasing, Inc., Manitex, LLC, and CIBC Bank USA (f/k/a The PrivateBank and Trust Company) and the lenders party thereto. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| MANITEX INTERNATIONAL, INC. | ||
| By: |
/s/ Joseph Doolan | |
| Name: |
Joseph Doolan | |
| Title: |
Chief Financial Officer | |
Date: December 23, 2020