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): December 1, 2011
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Stoneridge, Inc.
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(Exact name of registrant as specified in its charter)
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| Ohio |
001-13337 |
34-1598949 |
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(State of other jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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9400 East Market Street
Warren, Ohio
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44484 |
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(Zip Code) |
Registrant’s telephone number, including area code: (330) 856-2443
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(Former name or former address, if changed since last report.)
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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):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 1.01
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Entry into a Material Definitive Agreement.
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On December 1, 2011, Stoneridge, Inc. (the “Company”) entered into a Second Amended and Restated Credit and Security Agreement (the “Amended Agreement”) by and among the Company and certain of its subsidiaries as Borrowers, PNC Bank, National Association, as Agent, an Issuer and Lead Arranger, and PNC Bank, National Association, JPMorgan Chase Bank, N.A., Comerica Bank and Fifth Third Bank, as lenders. The Amended Agreement extends the termination date of the Company’s existing asset-based revolving credit facility to December 1, 2016 from November 1, 2012, increases the borrowing base by increasing the sublimit on eligible inventory located at Mexican facilities, and makes changes to certain covenants relating to, among other things, guarantees, investments, capital expenditures and permitted indebtedness. Loans available to the Borrowers under the Amended Agreement are based on periodic borrowing base computations, and the outstanding principal amount may in no event exceed $100.0 million in the aggregate, which was not impacted by the amendment. A press release announcing the Amended Agreement is attached as Exhibit 99.1 and is incorporated herein by reference.
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Item 9.01
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Financial Statements and Exhibits.
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(d) Exhibits
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10.1
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Second Amended and Restated Credit and Security Agreement dated December 1, 2011.
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99.1
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Press release dated December 2, 2011, announcing the Second Amended and Restated Credit and Security Agreement.
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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.
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Stoneridge, Inc.
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Date: December 7, 2011
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/s/ George E. Strickler
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George E. Strickler, Executive Vice President, Chief Financial Officer and Treasurer (Principal Financial and Accounting Officer)
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Exhibit Index
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10.1
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Second Amended and Restated Credit and Security Agreement dated December 1, 2011.
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99.1
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Press release dated December 2, 2011, announcing the Second Amended and Restated Credit and Security Agreement.
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