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): August 5, 2017
PEAK RESORTS, INC.
(Exact name of registrant as specified in its charter)
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Missouri |
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001-35363 |
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43-1793922 |
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(State or other jurisdiction of |
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(Commission |
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(I.R.S. Employer |
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incorporation) |
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File Number) |
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Identification No.) |
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17409 Hidden Valley Drive |
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Wildwood, Missouri |
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63025 |
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(Address of principal executive offices) |
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(Zip Code) |
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(636) 938-7474
(Registrant’s telephone number, including area code)
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.
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act.
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
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
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.Entry into a Material Definitive Agreement.
As previously disclosed, Peak Resorts, Inc. and certain of its subsidiaries (together, the “Company”) are parties to the $20.0 million Credit Facility, Loan and Security Agreement (the “Line of Credit Agreement”) with Royal Banks of Missouri, effective as of December 22, 2015. On August 5, 2016, the Company borrowed the then remaining $2.75 million under the Line of Credit Agreement for working capital purposes pursuant to a promissory note executed by the Company in favor of Royal Banks of Missouri on August 5, 2016 (the “Second Line of Credit Note”), which originally matured on August 5, 2017.
On August 5, 2017, the Company extended the maturity of the Second Line of Credit Note to November 5, 2017 pursuant to the Loan Renewal Agreement. All other terms of the Second Line of Credit Note and Line of Credit Agreement as previously disclosed remain unchanged.
The foregoing summary of the Loan Renewal Agreement is qualified in its entirety by reference to the Loan Renewal Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and 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 under Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.
Item 9.01.Financial Statements and Exhibits.
(d) Exhibits.
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Exhibit No. |
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Description of Exhibit |
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10.1 |
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Loan Renewal Agreement made by Peak Resorts, Inc., Hidden Valley Golf and Ski, Inc., Paoli Peaks, Inc., Snow Creek, Inc., LBO Holding, Inc., and SNH Development, Inc., as borrowers, in favor of Royal Banks of Missouri, dated as of August 5, 2017. |
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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.
Dated: August 8, 2017
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PEAK RESORTS, INC. |
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By: |
/s/ Stephen J. Mueller |
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Name: |
Stephen J. Mueller |
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Title: |
Chief Financial Officer |
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