Current Report Filing (8-k)
26 Januar 2021 - 2:31PM
Edgar (US Regulatory)
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): January 22, 2021
Harvest
Capital Credit Corporation
(Exact
name of registrant as specified in its charter)
Delaware
|
|
001-35906
|
|
46-1396995
|
(State
or other jurisdiction
of
incorporation)
|
|
(Commission
File Number)
|
|
(I.R.S.
Employer
Identification
No.)
|
767
Third Avenue, 29th Floor
New
York, NY 10017
(Address
of principal executive offices and zip code)
Registrant’s
telephone number, including area code: (212) 906-3589
Not
Applicable
Former
name or former address, if changed since last report
Check
the appropriate box below if the Form 8-K 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))
|
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
|
|
Trading
Symbol(s)
|
|
Name
of each exchange on which registered
|
Common
stock, par value of $0.001 per share
|
|
HCAP
|
|
NASDAQ
Global Market
|
6.125%
Notes due 2022
|
|
HCAPZ
|
|
NASDAQ
Global Market
|
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
January 22, 2021, Harvest Capital Credit Corporation (the “Company”) entered into the Twelfth Amendment
to the Loan and Security Agreement (the “Amendment”), by and among the Company, HCAP Equity Holdings,
LLC, a Delaware limited liability company and wholly owned subsidiary of the Company, and HCAP ICC, LLC, a Delaware limited liability
company and wholly owned subsidiary of the Company, as borrowers, Pacific Western Bank, as agent and a lender, and each of the
other lenders from time to time party thereto, including City National Bank.
The
Amendment amends the Loan and Security Agreement, dated as of October 29, 2013 (as amended, restated and modified from time to
time, the “Loan Agreement”), to, among other things, (i) extend the revolving period to June 30, 2021,
until which date the Company may receive additional advances at the discretion of the lenders; (ii) amend the definition
of “debt service” to exclude from the calculation of the debt service coverage ratio, for any period from August 1,
2020 through June 30, 2021 (extended from December 31, 2020 pursuant to the Amendment), an amount equal to the lesser of (x) the
amount of the required monthly amortization payments for the relevant period and (y) the aggregate amount of all prepayments of
principal (both voluntary and mandatory) collected by the Company during the relevant period; and (iii) revise the definition
of “modified net investment income” to account for the Company’s anticipated transaction costs associated with
its pending merger with Portman Ridge Finance Corporation. The other material terms of the Loan Agreement were unchanged.
The
description above is only a summary of the material provisions of the Amendment and is qualified in its entirety by reference
to the Company of the Amendment which is filed as Exhibit 10.1 to this Current Report on
Form 8-K and is 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
information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
Item 9.01.
Financial Statements and Exhibits
Exhibit
No.
|
|
Description
|
|
|
|
10.1
|
|
Twelfth Amendment to Loan and Security Agreement, dated as of January 22, 2021, by and among the Company, HCAP Equity Holdings, LLC and HCAP ICC, LLC, as borrowers, Pacific Western Bank, as agent and a lender, and each of the other lenders from time to time party thereto
|
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.
Date:
January 26, 2021
|
HARVEST
CAPITAL CREDIT CORPORATION
|
|
|
|
By:
|
/s/
William E. Alvarez, Jr.
|
|
Name:
|
William
E. Alvarez, Jr.
|
|
Title:
|
Chief
Financial Officer, Chief Compliance Officer & Secretary
|
2
Harvest Capital Credit (NASDAQ:HCAP)
Historical Stock Chart
Von Mai 2024 bis Jun 2024
Harvest Capital Credit (NASDAQ:HCAP)
Historical Stock Chart
Von Jun 2023 bis Jun 2024
Echtzeit-Nachrichten über Harvest Capital Credit Corporation (NASDAQ): 0 Nachrichtenartikel
Weitere Harvest Capital Credit Corp News-Artikel