Business Context and Reporting Period
Company: Box, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: July 12, 2019
Event: Entry into a Material Definitive Agreement (Amendment No. 1 to Credit Agreement with Wells Fargo Bank, National Association).
Key Financial Metrics
This filing reports specific debt facility terms and outstanding balances as of July 12, 2019. It does not contain revenue, profit, cash flow, or margin data.
| Metric | Value |
|---|---|
| Revolving Commitment (Post-Amendment) | $100.0 million |
| Revolving Loans Outstanding | $40.0 million |
| Letters of Credit Issued | $26.2 million |
| Letters of Credit Sublimit (Post-Amendment) | $45.0 million |
| Maturity Date (Post-Amendment) | July 12, 2022 |
Material Changes Versus Prior Period
The amendment to the Credit Agreement resulted in the following changes compared to the original agreement dated November 27, 2017:
- Increased Capacity: Revolving commitments increased from $85.0 million to $100.0 million.
- Extended Maturity: Borrowing maturity date extended from November 27, 2020, to July 12, 2022.
- Higher Sublimit: The sublimit for letters of credit increased from $30.0 million to $45.0 million.
Guidance, Outlook, and Risks
Management Commentary: The filing focuses solely on the structural changes to the credit facility. No forward-looking guidance, revenue outlook, or strategic commentary is provided in this document.
Risks and Contingencies: The filing notes that the description of the amendment is qualified in its entirety by the terms and conditions of the attached Exhibit 10.1. No specific new risks or contingencies are detailed in the text of this summary.
Investor Verification Checklist
- Verify the full terms and conditions of Amendment No. 1 in Exhibit 10.1 attached to the filing.
- Confirm the interest rate structure and fees associated with the increased $100.0 million commitment.
- Review the company's most recent 10-Q or 10-K for comprehensive liquidity, cash flow, and profitability metrics not included in this 8-K.
- Assess the impact of the extended maturity date on the company's long-term debt schedule.