Current Report Filing (8-k)
July 12 2021 - 3:50PM
Edgar (US Regulatory)
0001616741
false
0001616741
2021-07-06
2021-07-06
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
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) July
6, 2021
PATRIOT
TRANSPORTATION HOLDING, INC.
(Exact name of
registrant as specified in its charter)
florida
(State or other jurisdiction of incorporation)
|
001-36605
(Commission File
Number)
|
47-2482414
(IRS Employer
Identification No.)
|
200 W. FORSYTH STREET, 7TH FLOOR
JACKSONVILLE, FL
(Address of principal executive offices)
|
32202
(Zip Code)
|
(904) 858-9100
(Registrant’s telephone number, including area
code)
Not Applicable
(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):
[ ] 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
|
PATI
|
Nasdaq Global Select Market
|
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.Entry into a Material Definitive Agreement.
On July 6, 2021, Patriot Transportation
Holding, Inc. (the “Company”) entered into the 2021 Amended and Restated Credit Agreement (the “The Amended
and Restated Credit Agreement”) with Wells Fargo Bank, N.A. (“Wells Fargo”). The Amended and Restated Credit
Agreement modifies the Company's prior Credit Agreement with Wells Fargo, dated January 30, 2015, as amended by that certain First Amendment
dated December 28, 2018. The Amended and Restated Credit Agreement establishes a five-year revolving credit facility with a maximum facility
amount of $15 million, with a separate sublimit for standby letters of credit. The credit facility limit may be increased to $25 million
upon request by the Company, subject to the lender's discretion and the satisfaction of certain conditions. The interest rate under the
Amended and Restated Credit Agreement is 1.10% over SOFR. A commitment fee of 0.12% per annum is payable quarterly on the unused portion
of the commitment. The Amended and Restated Credit Agreement contains certain conditions, affirmative financial covenants and negative
covenants. Wells Fargo is the sole lender under the Amended and Restated Credit Agreement.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation
under an Off-Balance Sheet Arrangement of a Registrant.
Item 1.01 is incorporated herein by reference.
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.
|
|
PATRIOT TRANSPORTATION HOLDINGS, INC.
|
|
|
Registrant
|
|
|
|
|
|
Date: July 12, 2021
|
By:
|
/s/Matthew C. McNulty
|
|
|
|
Matthew C. McNulty
|
|
|
|
Chief Financial Officer
|
|
Patriot Transportation (NASDAQ:PATI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Patriot Transportation (NASDAQ:PATI)
Historical Stock Chart
From Jul 2023 to Jul 2024