SEC Filing Summary: Systemax Inc. (Form 8-K)
Business Context and Reporting Period
This Current Report (Form 8-K) was filed by Systemax Inc. on December 28, 2000, covering events occurring on December 20, 2000. The registrant is incorporated in Delaware and operates from Port Washington, New York. The filing primarily discloses a new financing arrangement entered into by the company and its subsidiaries.
Key Financial Metrics
The filing does not provide specific revenue, profit, cash flow, margin, or existing debt figures. The primary financial metric disclosed is the establishment of a new credit facility:
- Credit Facility Amount: $70,000,000
- Facility Type: Revolving Credit Agreement
- Lenders: The Chase Manhattan Bank (Agent) and The Bank of New York (Documentation Agent)
- Agreement Date: November 30, 2000
- Expiration Date: January 31, 2001
Material Changes
The material change reported is the execution of the Revolving Credit Agreement. This action provides the company with access to liquidity up to $70 million for a short-term period ending in early 2001. No comparative financial data or changes in operating metrics versus prior periods are included in this specific filing.
Outlook, Risks, and Management Commentary
The filing contains no management commentary, forward-looking guidance, or specific risk factors beyond the standard disclosure of the credit agreement terms. The document does not detail the intended use of proceeds, interest rates, or covenants associated with the facility, as these details are contained in the attached Exhibit 10.1 (Revolving Credit Agreement).
Investor Verification Checklist
- Verify the specific interest rates and fees associated with the $70 million facility in Exhibit 10.1.
- Confirm the financial covenants and restrictions imposed by Chase Manhattan Bank and The Bank of New York.
- Review the company's most recent 10-K or 10-Q to understand the current debt load and liquidity position prior to this new facility.
- Investigate the strategic reason for a short-term facility expiring on January 31, 2001 (e.g., seasonal working capital needs or bridge financing).