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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Lawson Products Inc | NASDAQ:LAWS | 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% | 40.42 | 0.01 | 199,999.99 | 0 | 01:00:00 |
Date of Report (Date of earliest event reported):
|
|
October 11, 2019
|
LAWSON PRODUCTS, INC.
|
(Exact name of registrant as specified in its charter)
|
Delaware
|
|
0-10546
|
|
36-2229304
|
(State or other jurisdiction of incorporation)
|
|
(Commission File Number)
|
|
(I.R.S. Employer Identification No.)
|
8770 W. Bryn Mawr Ave., Suite 900, Chicago, Illinois
|
|
60631
|
(Address of principal executive offices)
|
|
(Zip Code)
|
|
|
|
(Registrant's telephone number, including area code)
|
|
(773) 304-5050
|
Not Applicable
|
(Former name or former address, if changed since last report)
|
Title of each class
|
|
Trading Symbol
|
|
Name of each exchange on which registered
|
Common stock, $1.00 par value
|
|
LAWS
|
|
NASDAQ Global Select Market
|
Total Net Leverage Ratio
|
Commitment ABR and Canadian Prime Rate Spread
|
Commitment Eurodollar/CDOR Rate Spread
|
Commitment Fee Rate
|
|||
Category 1
> 3.25 to 1.00
|
1.50
|
%
|
2.50
|
%
|
0.30
|
%
|
Category 2
< 3.25 to 1.00 but
> 2.50 to 1.00
|
1.00
|
%
|
2.00
|
%
|
0.30
|
%
|
Category 3
< 2.50 to 1.00 but > 1.75 to 1.00 |
0.50
|
%
|
1.50
|
%
|
0.25
|
%
|
Category 4
< 1.75 to 1.00 but > 1.00 to 1.00 |
0.25
|
%
|
1.25
|
%
|
0.20
|
%
|
Category 5
< 1.00 to 1.00 |
0.00
|
%
|
1.00
|
%
|
0.15
|
%
|
a.
|
The Company is required to maintain an EBITDA to Fixed Charge Coverage Ratio of at least 1.15 to 1.00 for any period of four consecutive fiscal quarters ending on the last day of any fiscal quarter; and
|
b.
|
The Company is required to maintain a Total Net Leverage Ratio of no more than 3.25 to 1.00 on the last day of any fiscal quarter. The maximum Total Net Leverage Ratio will be allowed to increase to 3.75 to 1.00 after certain permitted acquisitions.
|
10.1
|
Credit Agreement dated October 11, 2019 by and among Lawson Products, Inc. and certain of its subsidiaries, the lenders party thereto, and J.P. Morgan Chase Bank, N.A. as administrative agent.
|
99.1
|
Press release dated October 14, 2019 announcing the Credit Agreement
|
|
|
|
LAWSON PRODUCTS, INC.
|
|
|
|
(Registrant)
|
|
|
|
|
Date:
|
October 16, 2019
|
|
By: /s/ Ronald J. Knutson
|
|
|
|
Name: Ronald J. Knutson
|
|
|
|
Title: Executive Vice President, Chief Financial Officer, Treasurer and Controller
|
Exhibit Number
|
|
Description
|
|
||
|
1 Year Lawson Products Chart |
1 Month Lawson Products Chart |
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