8-K 1 form8k.htm FORM 8K AMENDMENT NO. 6 TO CREDIT AGMT form8k.htm





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):  January 15, 2009
 
Logo
 
SELECT COMFORT CORPORATION
(Exact name of registrant as specified in its charter)
 
Minnesota
(State or other jurisdiction of incorporation or organization)
 

0-25121
41-1597886
(Commission File No.)
(IRS Employer Identification No.)

9800 59th Avenue North, Minneapolis, Minnesota 55442
(Address of principal executive offices)             (Zip Code)

(763) 551-7000
(Registrant’s telephone number, including area code)

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:

[  ]  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))

 
 

 


 
ITEM 1.01.  ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
 
Amendment No. 6 to Credit Agreement
 
On January 15, 2009, Select Comfort Corporation entered into Amendment No. 6 (“Amendment No. 6”) to our existing Credit Agreement dated as of June 9, 2006, as previously amended by the First Amendment effective as of June 28, 2007, the Second Amendment effective as of February 1, 2008, the Third Amendment effective as of May 30, 2008, the Fourth Amendment effective as of December 2, 2008, and the Fifth Amendment effective as of January 2, 2009 (the “Credit Agreement”).  The parties to Amendment No. 6 are Select Comfort Corporation, Select Comfort Retail Corporation, JPMorgan Chase Bank, National Association, as Administrative Agent and as Collateral Agent, Bank of America, N.A., as Syndication Agent, and JPMorgan Chase Bank, National Association, Bank of America, N.A., Citicorp USA, Inc., Wells Fargo Bank, National Association and Branch Banking and Trust Co., as Lenders.
 
Amendment No. 6 deferred to February 1, 2009 a reduction in the amount available under the line of credit to $85,000,000 that was scheduled to become effective as of January 3, 2009.  Also pursuant to Amendment No. 6, the Lenders waived compliance, through the close of business on January 31, 2009, with the Minimum Interest Coverage Ratio and EBITDA covenants of the Credit Agreement for the fiscal period ending on or about December 31, 2008.
 
The aforementioned description of Amendment No. 6 is qualified in its entirety by reference to the complete terms of Amendment No. 6, a copy of which is included as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
 
ITEM 9.01.  FINANCIAL STATEMENTS AND EXHIBITS.
 
(d) Exhibits.
 
10.1        Amendment No. 6 to Credit Agreement, dated as of January 15, 2009.
 

 

 


 
SIGNATURE
 
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.
 


 
SELECT COMFORT CORPORATION
 
(Registrant)
   
   
Dated:  January 22, 2009
By:  signature
 
Title:    Senior Vice President


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EXHIBIT INDEX

Exhibit No.                   Description                                                                                                
10.1                                Amendment No. 6 to Credit Agreement, dated as of January 15, 2009.
 
 
 
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