TTM Technologies Inc.

08/01/2024 | Press release | Distributed by Public on 08/01/2024 14:03

New Financial Obligation Form 8 K

Item 1.01. Entry Into a Material Definitive Agreement.

On August 1, 2024, TTM Technologies, Inc. (the "Company") entered into a First Amendment (the "Amendment") to that certain Amended & Restated Term Loan Credit Agreement, dated as of May 30, 2023 (the "Term Loan Credit Agreement"), by and among the Company, JPMorgan Chase Bank, N.A., as Administrative Agent, and the several lenders from time to time parties thereto. The Amendment provides for a new $346.5 million senior secured term loan credit facility (the "New Term Loan Facility") that (1) amends and restates the Company's existing senior secured term loan credit facility (the "2023 Term Loan Facility"), (2) refinances the full amount of outstanding indebtedness under the 2023 Term Loan Facility, (3) bears interest at a floating rate of 1-monthChicago Mercantile Exchange (CME) Term Secured Overnight Financing Rate (SOFR) plus an applicable margin of 2.25%, 50 basis points lower than the 2023 Term Loan Facility, and (4) makes certain other changes to the Term Loan Credit Agreement as set forth therein. The New Term Loan Facility maintains the same scheduled maturity date of May 30, 2030 as the 2023 Term Loan Facility. We estimate we will incur fees and expenses of approximately $1.0 million related to the Amendment.

The foregoing summary of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, which will be included as an exhibit to the Company's next Quarterly Report on Form 10-Qto be filed with the Securities and Exchange Commission.