false 0001061069 0001061069 2023-09-18 2023-09-18
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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) September 19, 2023 (September 18, 2023)
 
AVALON HOLDINGS CORPORATION
(Exact Name of Registrant as Specified in its Charter)
 
Ohio 1-14105 34-1863889
(State or Other Jurisdiction (Commission File (IRS Employer
of Incorporation) Number) Identification No.)
 
One American Way, Warren, Ohio 44484
(Address of Principal Executive Offices) (Zip Code)
 
Registrant's telephone number, including area code: (330) 856-8800
 
     
(Former name and address, if changed since last report)
 
Securities registered pursuant to Section 12(b) of the Act:
 
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Class A Common Stock, $0.01 par value
AWX
NYSE American
 
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 240.13e4(c))
 
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 Rule 12b-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 September 18, 2023 Avalon Holdings Corporation and certain wholly-owned subsidiaries amended its existing Promissory Note Agreement (“The Line of Credit Agreement”) dated May 31, 2018 as previously amended on July 22, 2022 with Premier Bank (the “Lender”). The amendment extends the maturity date of July 31, 2024 to July 31, 2025. At September 18, 2023, $2,200,000 was drawn under the Line of Credit Agreement.
 
The forgoing description of the Line of Credit Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Line of Credit Agreement, which is filed with this report as Exhibits 10.1, 10.2 and 10.3 and is incorporated herein by reference.
 
The other material terms of the Line of Credit Agreement, dated May 31, 2018, and amendment on July 22, 2022, with the Lender are described in the Current Reports on Form 8-K filed with the Securities and Exchange Commission on May 31, 2018 and July 25, 2022, respectively, of which are incorporated herein by reference.
 
 
ITEM 9.01 Financial Statements and Exhibits
 
 
 
 
104        Cover Page Interactive Data File (embedded within the Inline XBRL document)
 
 
 
 
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.
 
 
  AVALON HOLDINGS CORPORATION  
  (Registrant)  
       
DATED:         September 19, 2023   /s/ Michael J. Havalo  
  By: Michael J. Havalo  
    Chief Financial Officer and Treasurer  
 
 
 

Exhibit 10.1

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Exhibit 10.2

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Exhibit 10.3

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v3.23.3
Document And Entity Information
Sep. 18, 2023
Document Information [Line Items]  
Entity, Registrant Name AVALON HOLDINGS CORPORATION
Document, Type 8-K
Document, Period End Date Sep. 18, 2023
Entity, Incorporation, State or Country Code OH
Entity, File Number 1-14105
Entity, Tax Identification Number 34-1863889
Entity, Address, Address Line One One American Way
Entity, Address, City or Town Warren
Entity, Address, State or Province OH
Entity, Address, Postal Zip Code 44484
City Area Code 330
Local Phone Number 856-8800
Title of 12(b) Security Class A Common Stock, $0.01 par value
Trading Symbol AWX
Security Exchange Name NYSE
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity, Emerging Growth Company false
Amendment Flag false
Entity, Central Index Key 0001061069
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