0001104659-12-016237.txt : 20120307 0001104659-12-016237.hdr.sgml : 20120307 20120307153143 ACCESSION NUMBER: 0001104659-12-016237 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20120301 ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant FILED AS OF DATE: 20120307 DATE AS OF CHANGE: 20120307 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CAGLES INC CENTRAL INDEX KEY: 0000016104 STANDARD INDUSTRIAL CLASSIFICATION: POULTRY SLAUGHTERING AND PROCESSING [2015] IRS NUMBER: 580625713 STATE OF INCORPORATION: GA FISCAL YEAR END: 0403 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-07138 FILM NUMBER: 12674065 BUSINESS ADDRESS: STREET 1: 1385 COLLIER ROAD NW CITY: ATLANTA STATE: GA ZIP: 30318 BUSINESS PHONE: 4043552820 MAIL ADDRESS: STREET 1: 1385 COLLIER ROAD NW CITY: ATLANTA STATE: GA ZIP: 30318 8-K 1 a12-6061_28k.htm 8-K

 

 

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): March 1, 2012

 

Cagle’s, Inc.

(Exact name of registrant as specified in its charter)

 

Georgia

 

001-07138

 

58-0625713

(State or other jurisdiction

 

(Commission

 

(I.R.S. Employer

of incorporation)

 

File Number)

 

Identification No.)

 

1385 Collier Road NW, Atlanta, GA

 

30318

(Address of principal executive offices)

 

(Zip Code)

 

(404) 355-2820

(Registrants telephone number, including area code)

 

Not applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box 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):

 

o    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


 

Section 2 - FINANCIAL INFORMATION

 

ITEM 2.03.   CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT.

 

On March 1, 2012, Cagle’s, Inc. and its wholly owned subsidiary Cagle’s Farms, Inc. (the “Company”) entered into a letter agreement substituting new Sale Transaction Benchmarks under  the Debtor in Possession Credit and Security Agreement signed October 24, 2011 and amended by the First Amendment to Debtor in Possession Credit and Security Agreement on November 23, 2011, and by previous letter agreements dated December 22, 2011, January 26, 2012 and February 16, 2012 (the “Agreement”) with AgSouth Farm Credit, ACA, an agricultural credit association (the “Lender”).

 

The original Debtor in Possession Credit and Security Agreement defined the requirements for an acceptable reorganization plan.  The First Amendment to Debtor in Possession Credit and Security Agreement also required the Company to initiate a process to sell a significant portion or substantially all of the Company’s assets in 90 days and to meet certain progress benchmarks in connection with such sale.  The previous letter agreements extended the benchmarks.

 

This letter agreement dated March 1, 2012, extends until March 16, 2012, the deadline for executing a Sale Transaction Agreement covering substantially all, or a significant portion of, the Company’s assets.  The deadline for filing a motion in bankruptcy court to approve the Sale Transaction is extended until March 19, 2012.

 

No other changes to the Agreement materially modify the description in the Company’s previous 8-K filings.

 

2


 

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.

 

Cagle’s, Inc.

 

(Registrant)

 

 

 

 

Date: March 7, 2012

 

 

 

 

By:

/s/  Harry C. Woodring

 

 

Harry C. Woodring

 

 

Chief Financial Officer

 

 

3