Business Context and Reporting Period
FutureFuel Corp. filed this Form 8-K on March 19, 2010, reporting a material definitive agreement entered into by its wholly owned subsidiary, FutureFuel Chemical Company. The filing addresses the extension of an existing credit facility originally established in 2007.
Key Financial Metrics
This filing does not provide specific revenue, profit, cash flow, margin, or liquidity metrics. The primary financial data point disclosed is the availability of $50 million in financing under the modified Credit Agreement with Regions Bank.
Material Changes
The material change reported is the execution of a Second Modification Agreement on March 19, 2010. This agreement extended the term of the Credit Agreement, which was set to terminate on March 14, 2010, to a new maturity date of June 30, 2013. The modification is effective retroactively to March 14, 2010.
Outlook, Risks, and Management Commentary
The filing contains no forward-looking guidance, management commentary on future performance, or specific discussion of risks beyond the terms of the credit extension. The document refers investors to the Registrant's Form 10-K for the year ended December 31, 2009, for additional information regarding the Credit Agreement.
Investor Verification Checklist
- Verify the specific terms and covenants of the Second Modification Agreement in the referenced Form 10-K.
- Confirm the current utilization status of the $50 million credit facility.
- Review the Form 10-K for the year ended December 31, 2009, for historical debt obligations and financial health.
- Check for any subsequent filings regarding the repayment or further modification of this credit facility.