false 0001822928 0001822928 2025-01-01 2025-01-01 0001822928 hlly:CommonStockParValue00001PerShareCustomMember 2025-01-01 2025-01-01 0001822928 hlly:WarrantsEachExercisableForOneShareOfCommonStockAtAnExercisePriceOf1150PerShareCustomMember 2025-01-01 2025-01-01
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 7, 2025 (January 1, 2025)
 
 
HOLLEY INC.
(Exact name of registrant as specified in its charter)
 
Delaware
001-39599
87-1727560
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
 
2445 Nashville Road, Suite B1, Bowling Green, KY
  
42101
(Address of principal executive offices)
  
(Zip Code)
 
(270) 782-2900
(Registrant’s telephone number, including area code)
(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 $0.0001 per share
  
HLLY
  
New York Stock Exchange
Warrants, each exercisable for one share of common stock at an exercise price of $11.50 per share
  
HLLY WS
  
New York Stock Exchange
 
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 Material Definitive Agreement.
 
On January 1, 2025, Holley Inc. (the “Company”), entered into an agreement with Cataclean Global Limited ("Cataclean") to purchase a perpetual exclusive license in North America for developing, manufacturing, marketing, distributing, using and selling existing Cataclean products as well as future product formulations in all sales channels in North America for a total purchase price of $23.8 million.
 
Item 9.01     
 
(d) Exhibits
 
Exhibit
No.
  
Description
99.1
  
104   Cover Page Interactive Data File (formatted as Inline XBRL).
 
 
 
 
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.
 
 
 
 
HOLLEY INC.
   
 
By:
   /s/ Jesse Weaver
     
Name: Jesse Weaver
     
Title: Chief Financial Officer
 
Date: January 7, 2025
 
 

Exhibit 99.1

 

 

PRESS RELEASE                                

 

logosml.jpg

2445 Nashville Road Suite B1

Bowling Green, KY 42101

Holley.com

 

Holley Performance Brands Announces Exclusive North American Licensing Agreement for Cataclean Products

Partnership further strengthens Holley’s position as a global leader in automotive aftermarket performance solutions

 

BOWLING GREEN, Ky. – January 7, 2025– Holley Performance Brands ("Holley") (NYSE: HLLY) a leader in automotive aftermarket performance solutions, today announced a perpetual exclusive license agreement with Cataclean Global Limited (“Cataclean”) for the North American market. The enhanced partnership allows Holley to develop, manufacture, market, distribute and sell Cataclean branded products in the U.S., Canada and Mexico. The transaction total purchase price is $23.8 million.

 

Cataclean is a leading performance automotive additives maker in the U.K. and North America. Engineered to help engines perform better, last longer and run cleaner, the Cataclean signature fuel and exhaust system cleaner has become a trusted mainstay for enthusiasts and mechanics. Holley Performance Brands has enjoyed a longstanding relationship with Cataclean, helping to grow the brand in the U.S. for more than a decade.

 

“We are extremely excited to announce the agreement with Cataclean to be their exclusive partner in North America,” said Matthew Stevenson, President and Chief Executive Officer, Holley Performance Brands. “Our strengthened partnership is a testament to our continued commitment to provide a comprehensive portfolio of respected brands and products that serve enthusiasts across our four consumer vertical groupings.” 

 

Holley to Offer Cataclean Products in New Markets and Channels

 

The exclusive partnership with Cataclean is a cornerstone in Holley’s continued efforts to develop a full line of performance chemical offerings for consumers in North America. The licensing agreement positions Holley to expand the Cataclean brand in new channels and markets and through new formulations – promoting continued growth for both Cataclean and Holley.

 

In addition to perpetual exclusivity, the license agreement includes unlimited sales channel access, exclusive access to new formulations and expansion of the Cataclean brand’s reach into Mexico. The mutually beneficial terms allow Holley and Cataclean to invest in the brand and infrastructure necessary to deliver continued growth for both organizations and furthers the Holley mission to bring performance, safety, fun and excitement to automotive enthusiasts.

 

For more Holley Performance Brands company news, click here.

 

Certain statements in this press release may be considered “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995.  Such forward-looking statements are subject to risks, uncertainties, and other important factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including but not limited to Holley’s ability to (1) successfully design, develop, and market new products, (2) maintain and strengthen demand for our products and brands, (3) attract new customers in a cost-effective manner, (4) expand into additional consumer markets, and (5) and the other risks and uncertainties set forth in the Annual Report on Form 10-K for the year ended December 31, 2023 filed with the U.S. Securities and Exchange Commission (“SEC”) on March 14, 2024, and in any subsequent filings with the SEC.

 

 
 

 

About Holley Performance Brands

Holley Performance Brands (NYSE: HLLY) leads in the design, manufacturing and marketing of high-performance products for automotive enthusiasts. The company owns and manages a portfolio of iconic brands, catering to a diverse community of enthusiasts passionate about the customization and performance of their vehicles. Holley Performance Brands distinguishes itself through a strategic focus on four consumer vertical groupings, including Domestic Muscle, Modern Truck & Off-Road, Euro & Import, and Safety & Racing, ensuring a wide-ranging impact across the automotive aftermarket industry. Renowned for its innovative approach and strategic acquisitions, Holley Performance Brands is committed to enhancing the enthusiast experience and driving growth through innovation. For more information on Holley Performance Brands and its dedication to automotive excellence, visit https://www.holley.com.

 

Media Relations Contact(s):
Jordan Moore, jmoore@tinymightyco.com / Sydney Goggans, sgoggans@tinymightyco.com

 

Investor Relations Contacts:

Anthony Rozmus / Neel Sikka

Solebury Strategic Communications

203-428-3224

Holley@soleburystrat.com

 

 

 
v3.24.4
Document And Entity Information
Jan. 01, 2025
Document Information [Line Items]  
Entity, Registrant Name HOLLEY INC
Document, Type 8-K
Document, Period End Date Jan. 01, 2025
Entity, Incorporation, State or Country Code DE
Entity, File Number 001-39599
Entity, Tax Identification Number 87-1727560
Entity, Address, Address Line One 2445 Nashville Road, Suite B1
Entity, Address, City or Town Bowling Green
Entity, Address, State or Province KY
Entity, Address, Postal Zip Code 42101
City Area Code 270
Local Phone Number 782-2900
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity, Emerging Growth Company true
Entity, Ex Transition Period false
Amendment Flag false
Entity, Central Index Key 0001822928
CommonStockParValue00001PerShare Custom [Member]  
Document Information [Line Items]  
Title of 12(b) Security Common stock, par value $0.0001 per share
Trading Symbol HLLY
Security Exchange Name NYSE
WarrantsEachExercisableForOneShareOfCommonStockAtAnExercisePriceOf1150PerShare Custom [Member]  
Document Information [Line Items]  
Title of 12(b) Security Warrants, each exercisable for one share of common stock at an exercise price of $11.50 per share
Trading Symbol HLLY WS
Security Exchange Name NYSE
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