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) July 5, 2006
-------------------------------
ESCALADE, INCORPORATED
--------------------------------------------------------------------------------
(Exact Name of Registrant as Specified in Its Charter)
Indiana
--------------------------------------------------------------------------------
(State or Other Jurisdiction of Incorporation)
0-6966 13-2739290
--------------------------------------------------------------------------------
(Commission File Number) (IRS Employer Identification No.)
251 Wedcor Avenue, Wabash, Indiana 46992
--------------------------------------------------------------------------------
(Address of Principal Executive Offices) (Zip Code)
(260) 569-7208
--------------------------------------------------------------------------------
(Registrant's Telephone Number, Including Area Code)
Not Applicable
--------------------------------------------------------------------------------
(Former Name or Former Address, if Changed Since Last Report)
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 (see General Instruction A.2. below):
[ ] 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))
Section 1 - Registrant's Business and Operations
Item 1.01 Entry into a Material Definitive Agreement
On June 30, 2006, the Company executed a seventh amendment to the revolving term
agreement that effectively increased the current available borrowing limit under
the Euro Revolving Loan from Euro 2.5 million to Euro 3.0 million and extended
the due date to May 19, 2008. All other terms of the agreement were unchanged.
As of June 30, 2006 the outstanding balance on this line was Euro 1.0 million.
On June 30, 2006, the Company's wholly owned subsidiary, Indian-Martin, Inc.,
executed a second amendment to its revolving term agreement that extended the
maturity due date to June 30, 2008. All other terms of the agreement were
unchanged. As of June 30, 2006 the outstanding balance on this line was $17.3
million.
Item 9.01 Financial Statements and Exhibits
(c) Exhibits
Exhibit Description
------- -----------
10.1 Seventh Amendment to Amended and Restated Credit
Agreement effective October 24, 2001 by and
between Escalade, Incorporated and JPMorgan Chase
Bank, NA. The effective date of the Amendment was
July 1, 2006.
10.2 Promissory Note between Escalade, Incorporated
and JPMorgan Chase Bank, NA. Dated July 1, 2006.
10.3 Second Amendment to Credit Agreement dated
September 5, 2003 by and between Indian-Martin,
Inc. and JPMorgan Chase Bank, NA. The effective
date of the Amendment was July 1, 2006.
10.4 Promissory Note between Indian-Martin, Inc. and
JPMorgan Chase Bank, NA. Dated July 1, 2006.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
Escalade, Incorporated has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Date: July 5, 2006 ESCALADE, INCORPORATED
By: /s/ TERRY D. FRANDSEN
-------------------------------------
Terry D. Frandsen, Vice President and
Chief Financial Officer
2