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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Dayton Superior Corp (MM) | NASDAQ:DSUP | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.25 | 0 | 00:00:00 |
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): March 16, 2009
Dayton Superior Corporation
(Exact
Name of Registrant as Specified in Charter)
Delaware |
1-11781 |
31-0676346 |
(State or Other Jurisdiction of Incorporation) |
(Commission File Number)
|
(IRS Employer Identification Number) |
7777 Washington Village Drive, Dayton, Ohio |
45459 |
|
(Address of Principal Executive Offices) |
(Zip Code) |
(937) 428-6360
Registrant's telephone number, including
area code
Not applicable
(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))
Item
1.01 Entry into a Material Definitive Agreement.
On March 16, 2009, Dayton Superior Corporation (the “ Company ”) entered into (i) Amendment No. 1 to the Revolving Credit Agreement (the “ Revolving Credit Amendment ”) with the Lenders signatory thereto and General Electric Capital Corporation, as Administrative Agent (the “ Revolving Credit Agent ”), in connection with the Revolving Credit Agreement, dated as of March 3, 2008 (the “ Revolving Credit Agreement ”), and (ii) Amendment No. 2 to the Term Loan Credit Agreement (the “ Term Loan Amendment ” and, collectively with the Revolving Credit Amendment, the “ Amendments ”) with the Lenders signatory thereto and General Electric Capital Corporation, as Administrative Agent (the “ Term Loan Agent ” and, collectively with the with the Revolving Credit Agent, the “ Agent ”), in connection with the Term Loan Credit Agreement, dated as of March 3, 2008 (the “ Term Loan Credit Agreement ” and, collectively with the Revolving Credit Agreement, the “ Credit Agreements ”).
Pursuant to the Amendments, (i) the scheduled maturities under the Credit Agreements have been extended until March 23, 2009 and (ii) the interest rates under the Credit Agreements will be increased as follows: (a) under the Revolving Credit Agreement, the new interest rate will be, at the Company’s option, ABR plus 5.50% or LIBOR plus 6.50% (with up to 4.00% of the total interest rate paid-in-kind at the company’s option), plus an additional 1.50% on Special Overadvances (as defined in the Revolving Credit Agreement), and (b) under the Term Loan Credit Agreement, the new interest rate will be, at the Company’s option, ABR plus 11.50% or LIBOR plus 12.50% (with up to 8.00% of the total interest rate paid-in-kind at the Company’s option). During this initial extension period, the Company expects to continue negotiations with the Agent and the Lenders on the terms of a more comprehensive amendment or forbearance arrangement.
The foregoing description does not purport to be complete and is qualified in its entirety by reference to the text of the Amendments, which are attached hereto as Exhibits 10.1 and 10.2 to this report and are 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 disclosure set forth under Item 1.01 above is incorporated herein by reference.
Item
9.01 Financial Statements and Exhibits.
(d) Exhibits. The following are furnished as exhibits to this Form 8-K pursuant to Item 601 of Regulation S-K:
10.1 |
Amendment No. 1 to the Revolving Credit Agreement, dated as of March 16, 2009, by and among Dayton Superior Corporation, the Lenders signatory thereto and General Electric Capital Corporation, as Administrative Agent and Collateral Agent |
||
10.2 |
Amendment No. 2 to the Term Loan Credit Agreement, dated as of March 16, 2009, by and among Dayton Superior Corporation, the Lenders party thereto and General Electric Capital Corporation, as Administrative Agent and Collateral Agent. |
||
99.1 |
Press Release dated March 16, 2009. |
SIGNATURE
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.
Dated: |
March 16, 2009 |
|||
|
||||
DAYTON SUPERIOR CORPORATION |
||||
|
||||
|
||||
|
|
By: |
/s/ Edward J. Puisis |
|
Name: |
Edward J. Puisis |
|||
Title: |
Executive Vice President and |
|||
Chief Financial Officer |
EXHIBIT INDEX
Exhibit
|
Description |
|
10.1 |
Amendment No. 1 to the Revolving Credit Agreement, dated as of March 16, 2009, by and among Dayton Superior Corporation, the Lenders signatory thereto and General Electric Capital Corporation, as Administrative Agent and Collateral Agent |
|
10.2 |
Amendment No. 2 to the Term Loan Credit Agreement, dated as of March 16, 2009, by and among Dayton Superior Corporation, the Lenders party thereto and General Electric Capital Corporation, as Administrative Agent and Collateral Agent. |
|
99.1 |
Press Release dated March 16, 2009. |
1 Year Dayton Superior Corp (MM) Chart |
1 Month Dayton Superior Corp (MM) Chart |
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