Current Report Filing (8-k)
August 08 2022 - 6:56AM
Edgar (US Regulatory)
0000812074
false
0000812074
2022-08-05
2022-08-05
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
August 5, 2022
Date of Report (Date of earliest event reported)
O-I
GLASS, INC.
(Exact name of registrant as specified in its
charter)
Delaware |
|
1-9576 |
|
22-2781933 |
(State
or other jurisdiction
of incorporation) |
|
(Commission
File Number) |
|
(IRS
Employer
Identification No.) |
One Michael Owens Way
Perrysburg, Ohio
(Address
of principal executive offices) |
43551-2999
(Zip
Code) |
(567) 336-5000
(Registrant’s telephone number, including
area code)
(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:
¨ | 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 |
Name
of each exchange on which
registered |
Common stock, $.01 par value |
OI |
The New York Stock Exchange |
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 7.01. REGULATION FD DISCLOSURE.
On August 5, 2022, Owens Brockway Glass Container
Inc. (“OBGC”), an indirect wholly owned subsidiary of O-I Glass, Inc. (the “Company”), completed a sale and leaseback
transaction with 2900 Fruitland Avenue Investors LLC and 2901 Fruitland Avenue Investors LLC (collectively, the “Buyer”),
pursuant to which the Buyer purchased OBGC’s plant in Vernon, California for a purchase price of approximately $181 million.
In connection with this transaction, OBGC, as tenant,
and the Company, as a guarantor, agreed to lease the Vernon plant from Buyer for an initial term of 10 years. The lease terms require
OBGC to make base rent payments of approximately $7.2 million in the first year, gradually increasing to approximately $10.3 million in
the tenth year. OBGC, in its discretion, has extension options for up to 13 additional years, via two options to extend for an additional
five years each along with a third option to extend for an additional three years. OBGC also has termination options at no cost during
the initial term, as early as the fifth anniversary, subject to OBGC providing the required advance notice.
On August 8, 2022, the Company issued a press release
announcing the completion of this sale and leaseback transaction. A copy of the press release is attached hereto as Exhibit 99.1 and is
incorporated herein by reference.
The information set forth in this Item 7.01, including
Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act
of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section. The information in this
Item 7.01, including Exhibit 99.1, shall not be incorporated by reference into any filing of the Company under the Securities Act of 1933,
as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
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.
|
O-I GLASS, INC. |
|
|
|
|
|
Date: August 8, 2022 |
By: |
/s/ John A. Haudrich |
|
Name: |
John A. Haudrich |
|
Title: |
Senior Vice President and Chief Financial Officer |
OI Glass (NYSE:OI)
Historical Stock Chart
From Jun 2024 to Jul 2024
OI Glass (NYSE:OI)
Historical Stock Chart
From Jul 2023 to Jul 2024