8-K 1 f8-k.htm 8-K DSKE_20170822_8K_Term Loan B Amend_Folio

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

 

August 22, 2017

Date of Report (Date of earliest event reported)

 

DASEKE, INC.

(Exact name of registrant as specified in its charter)

 

Delaware
(State or Other Jurisdiction of
Incorporation)

 

001-37509
(Commission
File Number)

 

47-3913221
(IRS Employer
Identification No.)

 

 

 

 

 

15455 Dallas Parkway, Suite 440
Addison, Texas

 

75001

(Address of Principal Executive Offices)

 

(Zip Code)

 

 

 

 

 

Registrant’s Telephone Number, Including Area Code: (972) 248-0412

 

 

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)

 

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

 

On August 16, 2017, Daseke Companies, Inc. (a wholly owned subsidiary of Daseke, Inc.) and Daseke, Inc. entered into Amendment No. 1 to Term Loan Agreement (the “Amendment”) with Credit Suisse AG, Cayman Islands Branch, as administrative agent and collateral agent (the “Agent”), and the lenders party thereto, which amended that certain Term Loan Agreement, dated as of February 27, 2017, among Daseke Companies, Inc., Daseke, Inc., the Agent and the lenders from time to time party thereto (the “Existing Term Loan Agreement”).  Pursuant to the Amendment, an adjustment was made to increase the delayed draw incurrence condition relating to pro forma total leverage ratio to 4.25x from 3.50x, effective August 16, 2017 through to the maturity of the delayed draw term loan facility in February 2018. In addition, pursuant to the Amendment, the total leverage ratio covenant was increased for the test periods ending September 30, 2017 and December 31, 2017 to 4.75x from 4.25x, with step-downs reverting to the existing levels under the Existing Term Loan Agreement beginning in the test period ending March 31, 2018. 

 

A copy of the Amendment is filed with this Current Report on Form 8-K as Exhibit 10.1 and is incorporated herein by reference, and the foregoing description of the Amendment is qualified in its entirety by reference thereto.

 

Item 9.01.Financial Statements and Exhibits

 

(d)Exhibits

 

10.1 Amendment No. 1 to Term Loan Agreement, dated as of August 16, 2017, among Daseke Companies, Inc., Daseke, Inc., Credit Suisse AG, Cayman Islands Branch, as administrative agent and collateral agent, and the lenders party thereto.

 


 

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, thereunto duly authorized.

 

 

 

 

 

 

DASEKE, INC.

 

 

 

August 22, 2017

By:

/s/ Angie J. Moss

 

Name:

Angie J. Moss

 

Title:

Senior Vice President, Chief Accounting Officer

and Corporate Controller

 

 

 


 

EXHIBIT INDEX

Exhibit No.

Description

10.1

Amendment No. 1 to Term Loan Agreement, dated as of August 16, 2017, among Daseke Companies, Inc., Daseke, Inc., Credit Suisse AG, Cayman Islands Branch, as administrative agent and collateral agent, and the lenders party thereto.