Silvercrest Asset Management Group Inc. - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Silvercrest Asset Management Group Inc. (SAMG) on June 25, 2019, reporting an event that occurred on June 20, 2019. The filing concerns a material definitive agreement regarding the company's credit facilities.
Key Financial Metrics
This filing does not contain periodic financial performance data such as revenue, profit, cash flow, or margins. The only financial metric disclosed relates to the company's debt structure:
- Total Credit Facility: $15.0 million
- Revolving Credit Facility: $7.5 million
- Delayed Draw Term Loan: $7.5 million
- Lender: City National Bank
Material Changes
The primary material change reported is the execution of the Sixth Amendment to the Credit Agreement. Under this amendment, the maturity date of the $7.5 million revolving credit facility was extended from June 21, 2019, to June 19, 2020. The $7.5 million delayed draw term loan remains unchanged with a maturity date of June 24, 2025. All other terms of the credit agreement remain in full force and effect.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or discussion of risks and contingencies beyond the specific terms of the credit amendment. No unusual items were reported.
Investor Verification Checklist
- Verify the extension of the revolving credit facility maturity to June 19, 2020.
- Confirm the total outstanding debt balance under the $15.0 million facility in the most recent 10-Q or 10-K.
- Review the Sixth Amendment to the Credit Agreement (Exhibit 4.1) for any covenants or conditions attached to the extension.
- Check for any subsequent filings regarding the utilization of the delayed draw term loan.