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 8, 2017
ScanSource, Inc.
(Exact name of Registrant as specified in its charter)
| | | | |
| South Carolina | | 000-26926 | | 57-0965380 |
(State or Other Jurisdiction of Incorporation) | | (Commission File Number) | | (I.R.S. Employer Identification Number) |
6 Logue Court, Greenville, South Carolina 29615
(Address, Including Zip Code, of Principal Executive Offices)
(864) 288-2432
(Registrant’s 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:
| ☐ | 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)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
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 Agreement.
On August 8, 2017, ScanSource, Inc., together with certain of its subsidiaries, entered into an Amendment (the “Amendment”) to its Amended and Restated Credit Agreement with JPMorgan Chase Bank, N.A. as Administrative Agent, and certain lenders named therein (the “Agreement”).
The Amendment increased the committed amount of its multi-currency senior secured revolving credit facility from $300 million to $400 million. Under the amended facility, ScanSource may continue to request to increase its borrowings by up to an additional $200 million, for a total of $600 million, subject to obtaining additional credit commitments from the lenders participating in the increase. The Amendment also modifies various administrative and regulatory provisions.
The foregoing description is qualified by reference to the full and complete terms of the Agreement as amended by the Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The disclosures set forth under Item 1.01 are incorporated herein by reference into this Item 2.03.
Item 9.01. Financial Statements and Exhibits.
| | |
Exhibit Number | | Description |
| |
| 10.1 | | Amendment to Amended and Restated Credit Agreement |
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.
| | | | | | |
| | | | ScanSource, Inc. |
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| Date: August 9, 2017 | | | | By: | | /s/ Gerald Lyons |
| | | | Name: | | Gerald Lyons |
| | | | Its: | | Interim Chief Financial Officer, Senior Vice President, Corporate Controller and Principal Accounting Officer |
