Date of Report (Date of earliest event reported) |
(Exact name of registrant as specified in its charter) |
(State or other jurisdiction
of incorporation)
|
(Commission
File Number)
|
(IRS Employer
Identification No.)
|
(Address of principal executive offices) |
(Zip Code) |
Registrant’s telephone number, including area code |
( |
N/A |
(Former name or former address, if changed since last report.) |
Title of each class
|
Trading Symbol(s)
|
Name of each exchange on which registered
|
|
|
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.
|
Item 1.02 |
Termination of a Material Definitive Agreement.
|
Item 2.03 |
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
|
● |
A Consolidated Fixed Charge Coverage Ratio (as defined in the New Line) of not less than 1.20 to 1.00
|
● |
A Consolidated Leverage Ratio (as defined in the New Line) no greater than 5.25 to 1.00
|
● |
A Consolidated Net Worth (as defined in the New Line) requirement of at least $675.7 million, adjusted for future changes in Net Worth
|
● |
Interest at the applicable Base Rate or Eurodollar Rate plus the Applicable Rate (each as defined in the Line agreement) based on a Consolidated Leverage Ratio
(as defined in the Line agreement)
|
● |
The Company may prepay outstanding borrowings under the New Line at any time without premium or penalty
|
● |
The New Line contains customary restrictive covenants (subject to specified exceptions and qualifications) with respect to, among other things, the creation of
liens, incurrence of indebtedness, changing the nature of the Company’s business, selling assets, effecting fundamental changes, engaging in transactions with affiliates, paying dividends, and entering into certain burdensome
agreements.
|
Exhibit
Number |
Description |
|
104
|
Cover Page Interactive Data File (formatted as Inline XBRL)
|
INGLES MARKETS, INCORPORATED | |||
(Registrant) | |||
Date: June 18, 2021 | |||
By:
|
/s/ Ronald B. Freeman | ||
Ronald B. Freeman | |||
Chief Financial Officer | |||