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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)
May 30, 2024
 
gtim20240605_8kimg001.jpg
Good Times Restaurants Inc.
(Exact name of registrant as specified in its charter)
 
Nevada
 
000-18590
 
84-1133368
(State or other jurisdiction
of incorporation)
 
(Commission
File Number)
 
(IRS Employer
Identification No.)
 
651 Corporate Circle, Suite 200, Golden, CO 80401
(Address of principal executive offices including zip code)
 
Registrant’s telephone number, including area code: (303) 384-1400
 
Not applicable
(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.):
 
         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))
 
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
 
Trading Symbol(s)
 
Name of each exchange
on which registered
Common Stock, $0.001 par value
 
GTIM
 
Nasdaq Capital Market
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
 
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.
 
Credit Agreement Amendment
 
On May 30, 2024, the “Company” and each of its wholly owned subsidiaries, as guarantors, entered into a Second Amendment to Credit Agreement (the “Amendment”) with respect to the Company’s Amended and Restated Credit Agreement with Cadence Bank, N.A., as lender, entered into on April 20, 2023, the “Credit Agreement”).
 
The Amendment, among other things, amends the Credit Agreement to consent to the Company’s purchase of certain equity interests (“Repurchase”), to make Restricted Payments for the repurchase, and to exclude such payments from the calculation of a certain financial covenant.
 
The foregoing description of the Amendment is qualified in its entirety by reference to the full text of the Amendment, a copy of which is filed as Exhibit 10.1 to this current report on Form 8-K and is incorporated by reference herein.
 
In connection with the acquisition, the Company issued a press release on May 29, 2024, which is filed as Exhibit 99.1 to this Current Report on Form 8-K 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 contained in Item 1.01 regarding the Amendment is incorporated by reference herein.
 
Item 9.01.         Financial Statements and Exhibits.
 
(d)         Exhibits.
 
Number
 
Description
     
10.1*
 
Second Amendment to Credit Agreement dated May 30, 2024 by and among Good Times Restaurants Inc., each of its wholly owned subsidiaries and Cadence Bank, N.A.
     
10.2
 
First Amendment to Credit Agreement dated May 22, 2024 by and among Good Times Restaurants Inc., each of its wholly owned subsidiaries and Cadence Bank, N.A. (previously filed as Exhibit 10.1 to the registrant’s Current Report on Form 8-K filed May 29, 2024 and incorporated herein by reference)
     
10.3
 
Amended and Restated Credit Agreement dated April 20, 2023, by and among Good Times Restaurants Inc., each of its wholly owned subsidiaries and Cadence Bank, N.A. (previously filed as Exhibit 10.1 to the registrant’s Current Report on Form 8-K filed April 26, 2023 and incorporated herein by reference)
     
Exhibit 104
 
Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).
 
*Filed herewith
 
 

 
 
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.
 
 
    GOOD TIMES RESTAURANTS INC.
     
Date: June 5, 2024
By:
rmz01.jpg
   
Ryan M. Zink
   
President and Chief Executive Officer