Current Report Filing (8-k)
August 23 2017 - 5:27PM
Edgar (US Regulatory)
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) August 23, 2017
WATSCO, INC.
(Exact Name of Registrant as Specified in Its Charter)
Florida
(State or Other Jurisdiction of Incorporation)
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1-5581
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59-0778222
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(Commission
File Number)
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(IRS Employer
Identification No.)
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2665 South Bayshore Drive, Suite 901
Miami, Florida 33133
(Address of Principal Executive Offices, Including Zip Code)
(305)
714-4100
(Registrants 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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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting material pursuant to Rule
14a-12
under the Exchange Act (17 CFR
240.14a-12)
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☐
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Pre-commencement
communications pursuant to Rule
14d-2(b)
under the Exchange Act (17 CFR
240.14d-
2(b))
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☐
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Pre-commencement
communications pursuant to Rule
13e-4(c)
under the Exchange Act (17 CFR
240.13e-4(c))
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Indicate by check mark whether the registrant is an emerging growth company as
defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule
12b-2
of the Securities Exchange Act of 1934 (17 CFR
§240.12b-2).
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.
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Entry into a Material Definitive Agreement.
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On August 23, 2017, Watsco, Inc., a Florida
corporation (the
Company
), entered into a Sales Agreement (the
Sales Agreement
) with Robert W. Baird & Co. Incorporated (the
Agent
), relating to the Companys issuance and sale,
from time to time, of up to $250.0 million of its Common stock, par value $0.50 per share (the
Placement Shares
), in a registered offering pursuant to the Companys Registration Statement on Form
S-3
(File
No. 333-
207831) filed on November 5, 2015, together with a prospectus supplement forming a part thereof filed with the Securities and Exchange Commission
on August 23, 2017 pursuant to Rule 424 promulgated under the Securities Act of 1933, as amended (the
Securities Act
).
Sales, if
any, of the Placement Shares pursuant to the Sales Agreement may be made in negotiated transactions or transactions that are deemed to be at the market offerings as defined in Rule 415 under the Securities Act, including sales made
directly on the New York Stock Exchange, or sales made to or through a market maker other than on an exchange. The Company is not obligated to sell any Placement Shares under the Sales Agreement.
The Agent will receive a commission or discount of up to 2.0% of the gross sales price of all Placement Shares sold through it under the Sales Agreement. The
Sales Agreement contains customary representations, warranties and covenants of the Company, and the Company has agreed to indemnify the Agent against certain liabilities.
The Company intends to use the net proceeds from the sale, if any, of Placement Shares in the offering for general corporate purposes, which may include,
without limitation, the acquisition of complementary businesses, the repayment of outstanding indebtedness, capital expenditures and working capital.
The
foregoing description of the Sales Agreement is only a summary and is qualified in its entirety by reference to the full text of the Sales Agreement, which is filed as Exhibit 1.1 to this Current Report on Form
8-K
and incorporated by reference in this Item 1.01.
This Current Report on Form
8-K
does not constitute an offer to sell nor a solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale
would be unlawful.
Item 9.01.
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Financial Statements and Exhibits
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(d) Exhibits
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Exhibit
Number
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Description
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1.1
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Sales Agreement, dated August 23, 2017, by and between the Company and Robert W. Baird & Co. Incorporated
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5.1
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Opinion of Greenberg Traurig, P.A.
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23.1
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Consent of Greenberg Traurig, P.A. (included in Exhibit 5.1 hereto)
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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, thereunto duly authorized.
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WATSCO, INC.
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Dated: August 23, 2017
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By:
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/s/ Ana M. Menendez
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Ana M. Menendez,
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Chief Financial Officer
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EXHIBIT INDEX
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Exhibit
Number
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Description
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1.1
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Sales Agreement, dated August 23, 2017, by and between the Company and Robert W. Baird & Co. Incorporated
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5.1
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Opinion of Greenberg Traurig, P.A.
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23.1
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Consent of Greenberg Traurig, P.A. (included in Exhibit 5.1 hereto)
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