Kadant Inc filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation, Financial Statements and Exhibits
$KAI
Industrial Machinery/Components
Industrials
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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): September 26, 2025
(Exact Name of Registrant as Specified in its Charter)
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
(Address of principal executive offices, including zip code)
(978 ) 776-2000
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Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
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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). Emerging growth company ☐
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KADANT INC.
Item 1.01. Entry into a Material Definitive Agreement.
On September 26, 2025, Kadant Inc. (the “Company”) entered into an Eighth Amendment and Joinder to Amended and Restated Credit Agreement (the “Eighth Amendment”) with certain of its subsidiaries party thereto, the several banks and other financial institutions party thereto, Citizens Bank, N.A., as administrative agent, and Citizens Bank, N.A., as multicurrency administrative agent. The Eighth Amendment amends the Amended and Restated Credit Agreement dated as of March 1, 2017 by and among the Company, certain of its subsidiaries party thereto, the several banks and other financial institutions from time to time party thereto, Citizens Bank, N.A., as administrative agent, and Citizens Bank, N.A., as multicurrency administrative agent, as amended by that certain First Amendment to Amended and Restated Credit Agreement and Limited Consent dated as of May 24, 2017, that certain Limited Consent dated as of December 9, 2018, that certain Second Amendment to Amended and Restated Credit Agreement dated as of December 14, 2018, that certain Third Amendment to Amended and Restated Credit Agreement dated as of March 16, 2020, that certain Fourth Amendment to Amended and Restated Credit Agreement dated as of May 4, 2021, that certain Fifth Amendment to Amended and Restated Credit Agreement dated as of December 9, 2021, that certain Sixth Amendment to Amended and Restated Credit Agreement dated as of November 30, 2022, and that certain Seventh Amendment to Amended and Restated Credit Agreement dated as of June 24, 2024 (collectively, the “Existing Credit Agreement”).
Pursuant to the Eighth Amendment, the Existing Credit Agreement was amended to, among other changes, (i) increase the amount of the revolving loan commitments from $400 million to $750 million, (ii) extend the maturity date of the unsecured credit facility to the date that is five years after the effective date of the Eighth Amendment, or September 26, 2030, (iii) remove the credit spread adjustments applicable to SOFR, SONIA and CORRA borrowings (iv) add Australian Dollars as a foreign currency, (v) remove the lowest tier of the pricing grid, (vi) add the Company's Australian subsidiary, Vayeron Pty Ltd, as an authorized borrower, (vii) increase the multicurrency sublimit from $300 million to $400 million, (viii) increase the letter of credit sublimit from $80 million to $100 million, and (ix) increase the swingline loan sublimit from $10 million to $15 million.
The foregoing description of the Eighth Amendment does not purport to be a complete statement of the parties’ rights thereunder and is qualified in its entirety by reference to the full text of the Eighth Amendment, which is filed herewith as Exhibit 10.1 and is 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 information set forth in Item 1.01 above with respect to the Eighth Amendment is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
| (d) Exhibits | ||||||||
| Exhibit No. | Description of Exhibits | |||||||
| 10.1 | Eighth Amendment and Joinder to Amended and Restated Credit Agreement dated as of September 26, 2025, among the Registrant, as Borrower, the Subsidiary Guarantors party thereto, the Foreign Subsidiary Borrowers from time to time parties thereto, the several lenders from time to time parties thereto, and Citizens Bank, N.A., as Administrative Agent and Multicurrency Administrative Agent. | |||||||
| 104 | Cover Page Interactive Data File (embedded with the Inline XBRL document) | |||||||
KADANT INC.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| KADANT INC. | ||||||||
| Date: October 2, 2025 | By: | /s/ Michael J. McKenney | ||||||
| Michael J. McKenney Executive Vice President and Chief Financial Officer | ||||||||