Current Report Filing (8-k)
05 January 2022 - 4:02AM
Edgar (US Regulatory)
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0000879585
2021-12-29
2021-12-29
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xbrli:shares
UNITED STATES
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 29, 2021
ATN INTERNATIONAL, INC.
(Exact name of registrant as specified in
its charter)
Delaware
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001-12593
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47-0728886
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(State or other
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(Commission File Number)
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(IRS Employer
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jurisdiction of incorporation)
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Identification No.)
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500 Cummings Center
Beverly, MA 01915
(Address of principal executive offices and zip
code)
(978) 619-1300
(Registrant’s telephone number, including
area code)
N/A
(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):
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¨
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Written communications pursuant to Rule 425 under
the Securities Act (17 CFR 230.425)
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¨
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Soliciting material pursuant to Rule 14a-12 under
the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))
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¨
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Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))
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Title of Each Class
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Trading Symbol(s)
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Name of each exchange on which
registered
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Common Stock, par value $.01 per share
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ATNI
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The Nasdaq Stock Market LLC
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Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§240.12b-2 of this chapter).
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Emerging growth company ¨
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If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 1.01
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Entry into a Material Definitive Agreement
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Receivables Credit Agreement
On
December 29, 2021 (the “Amendment Date”), ATN International, Inc., a Delaware corporation (the “Company”),
Commnet Wireless, LLC, a Delaware limited liability company and a wholly owned subsidiary of the Company (“Commnet Wireless”),
and Commnet Finance, LLC, a Delaware limited liability company and a wholly owned subsidiary of Commnet Wireless (“Commnet Finance”),
entered into an Amendment and Confirmation Agreement with CoBank, ACB (“CoBank”), as Administrative Agent, Lead Arranger
and Sole Bookrunner, and the Lenders party thereto (the “Receivables Credit Agreement Amendment”).
The
Receivables Credit Agreement Amendment amends the Credit Agreement, dated as of March 26, 2020 between Commnet Wireless, Commnet Finance,
the Company, and CoBank (the “Receivables Credit Agreement”) to, among other things, extend the draw period under the
delayed draw term loan to December 31, 2022. The Receivables Credit Agreement Amendment also restricts the Company from entering into
any loans accruing at the London Interbank Offered Rate (“LIBOR”) and increases the interest on loans advanced after
the Amendment Date to a rate based on (i) a base rate plus 1.75% or (ii) a fixed annual interest rate to be quoted by CoBank in its sole
and absolute discretion.
The
foregoing description is only a summary of the provisions of the Receivables Credit Agreement Amendment and is qualified in its entirety
by the terms of the Receivables Credit Agreement Amendment, a copy of which is filed herewith as Exhibit 10.1 and incorporated herein
by reference.
Item 9.01
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Financial Statements and Exhibits
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10.1
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Amendment and Confirmation Agreement, dated as of December 29, 2021, among Commnet Finance, LLC, as Borrower, Commnet Wireless, LLC,
as Originator and Servicer, ATN International, Inc., as Limited Guarantor, CoBank, ACB, as Administrative Agent, Lead Arranger, and Sole
Bookrunner, and the Lenders party thereto.
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104
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Cover page formatted in Inline XBRL.
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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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ATN INTERNATIONAL, INC.
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By:
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/s/ Justin D. Benincasa
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Justin D. Benincasa
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Chief Financial Officer
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Dated: January 4, 2022
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