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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Wheeling-Pittsburgh Corp (MM) | NASDAQ:WPSC | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
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): October 31, 2007
WHEELING-PITTSBURGH CORPORATION
(Exact name of registrant as specified in its charter)
Delaware | 000-50300 | 55-0309927 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
1134 Market Street, Wheeling, WV | 26003 | |
(Address of principal executive offices) | (Zip code) |
Registrants telephone number, including area code: (304) 234-2400
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:
¨ 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
Wheeling-Pittsburgh Corporation (the Company) entered into the Fourth Amendment and Consent, dated October 31, 2007 (the Fourth Amendment), to the Amended and Restated Revolving Loan Agreement, as of July 8, 2005 (the Revolving Loan Agreement), by and among the Company, Wheeling-Pittsburgh Corporation, the Lenders signatory thereto from time to time, and General Electric Capital Corporation, as administrative agent.
The Fourth Amendment provides for, among other things, access to up to $10.0 million of additional borrowing availability which would otherwise be required to be reserved under the terms of the Revolving Loan Agreement, provided that there is sufficient excess collateral to support such borrowings. Such additional access is available until December 14, 2007 or 5 business days from the completion of the business combination with Esmark Incorporated (Esmark), whichever occurs first. The Fourth Amendment also provides authorization for the Company to consummate the Esmark transaction, provided that the transaction occurs on or prior to November 30, 2007 and requires that substantially all net proceeds from the purchase and put rights features of the combination be used to repay the Revolving Loan Agreement. Upon completion of such transaction, the termination date for the commitments of the Lenders under the Revolving Loan Agreement will be reset to December 31, 2007.
The foregoing is a summary of the material terms and conditions of the Fourth Amendment and is not a complete discussion of the document. Accordingly, the foregoing is qualified in its entirety by reference to the full text of the Fourth Amendment attached hereto as Exhibit 10.1 and
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) | Exhibits |
Exhibit No. |
Description |
|
10.1 | Fourth Amendment and Consent, dated as of October 31, 2007, to Amended and Restated Revolving Loan Agreement |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
WHEELING-PITTSBURGH CORPORATION | ||
By: | /s/ David A. Luptak | |
David A. Luptak Executive Vice President, General Counsel and Secretary |
Dated: November 5, 2007
1 Year Wheeling Pittsburgh Chart |
1 Month Wheeling Pittsburgh Chart |
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