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
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) — July 18, 2007
Commission File Number 0-23320
OLYMPIC STEEL, INC.
(Exact name of registrant as specified in its charter)
| Ohio | 34-1245650 | |
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification Number) |
| 5096 Richmond Road, Bedford Heights, Ohio | 44146 | |
| (Address of principal executive offices) | (Zip Code) |
| Registrant’s telephone number, including area code | (216) 292-3800 | |
Check the appropriate box if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under and of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a- 12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)
o Pre-commencement communications pursuant to Rule 13e-4 under the Exchange Act (17 CFR 240.13e-4(c)
Item 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On July 18, 2007, Olympic Steel, Inc. entered into an amendment of its credit facility. The amendment, subject to the terms and conditions set forth therein, among other things: (i) revises the current credit facility pricing grid, by adding an additional pricing tier which results in a current savings of 25 basis points on all borrowings under the facility; (ii) changes the timing of Prime-based Interest Payments and payment of the Revolver Credit Commitment Fee from monthly to quarterly; and (iii) provides clarifying language regarding the issuance of Commercial Letters of Credit.
The foregoing summary is qualified in its entirety by reference to the full and complete terms of Amendment No. 14 to the Amended and Restated Credit Agreement filed as Exhibit 4.16 hereto.
Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits
Exhibit Number | Description of Exhibit | |||
| 4.16 | Amendment No. 14 to Amended and Restated Credit Agreement dated July 18, 2007 by and among the Registrant, five banks and Comerica Bank, as administrative agent. | |||
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.
| OLYMPIC STEEL, INC. | ||||
| Date: July 18, 2007 | By: | /s/ Richard T. Marabito | ||
| Richard T. Marabito | ||||
| Chief Financial Officer | ||||
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EXHIBIT INDEX
Exhibit Number | Description of Exhibit | |||
| 4.16 | Amendment No. 14 to Amended and Restated Credit Agreement dated July 18, 2007 by and among the Registrant, five banks and Comerica Bank, as administrative agent. | |||
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