Crane NXT Co.
12/11/2024 | Press release | Distributed by Public on 12/11/2024 15:06
Material Agreement Form 8 K
| Item 1.01 | Entry into a Material Definitive Agreement. |
On December 9, 2024 (the "Second Amendment Effective Date"), Crane NXT, Co. (the "Company"), a Delaware corporation, entered into that certain Second Amendment (the "Second Amendment"), among the Company, as borrower, CA-MC Acquisition UK Limited, a private limited company incorporated under the laws of England and Wales with registered number 03878137 (the "UK Borrower"), a wholly-owned subsidiary of the Company, as a subsidiary borrower, the subsidiaries of the Company party thereto as guarantors, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent.
The Second Amendment amends the Company's existing credit agreement, dated as of March 17, 2023 (as amended by that certain First Amendment, dated as of February 29, 2024, and by the Second Amendment, the "Amended Credit Agreement"), to, among other things, (a) establish incremental revolving commitments in an aggregate principal amount equal to $200,000,000 and (b) provide delayed draw term loan commitments in an aggregate principal amount equal to £300,000,000. The aggregate principal amount of the lenders' revolving commitments under the Amended Credit Agreement as of the Second Amendment Effective Date is $700,000,000. The delayed draw term loans will be made available to fund, together with cash on hand, the previously announced acquisition of De La Rue plc's authentication division, De La Rue Authentication Solutions, subject to customary closing conditions including the closing of such acquisition.
The foregoing description of the Second Amendment does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Second Amendment, a copy of which is filed as Exhibit 10.1 hereto and is incorporated into this Item 1.01 by reference.
SECTION 2 - FINANCIAL INFORMATION