UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM8-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): April 3, 2020
The Hackett Group, Inc.
(Exact name of registrant as specified in its charter)
| FLORIDA | 333-48123 | 65-0750100 | ||
(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||
1001 Brickell Bay Drive, Suite 3000 Miami, Florida | 33131 | |||
| (Address of principal executive offices) | (Zip Code) | |||
(305)375-8005
(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 Form8-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 Rule14a-12 under the Exchange Act (17 CFR240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule14d-2(b) under the Exchange Act (17 CFR240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule13e-4(c) under the Exchange Act (17 CFR240.13e-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, par value $.001 per share | HCKT | NASDAQ Stock Market |
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 Rule12b-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. |
On April 3, 2020, The Hackett Group, Inc. (the “Company”) entered into Amendment No. 2 to Second Amended and Restated Credit Agreement (the “Amendment”), which amends the Company’s existing Second Amended and Restated Credit Agreement, dated as of May 9, 2016, with Bank of America, N.A., as lender (the “Credit Agreement”), in relation to a revolving credit facility in an aggregate available principal amount of $45 million.
The Amendment, among other things, (i) extends the maturity date of the revolving credit facility from May 9, 2021 to November 30, 2022, (ii) increases the interest rate payable on outstanding loans in respect of the revolving credit facility by an additional per annum rate of 0.50% and (iii) modifies the definition of the “Eurodollar Rate” to add a minimum Eurodollar Rate floor of 0.75%.
Except as amended by the Amendment, the remaining terms of the Credit Agreement remain in full force and effect. The preceding description of the Amendment is a summary and is qualified in its entirety by the Amendment, a copy of which is filed as Exhibit 10.1 hereto and is incorporated by reference herein.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | 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.
| THE HACKETT GROUP, INC. | ||||||
| Date: April 3, 2020 | By: | /s/ Robert A. Ramirez | ||||
| Robert A. Ramirez | ||||||
| Executive Vice President, Finance and Chief Financial Officer | ||||||