0001017480-13-000040.txt : 20131115 0001017480-13-000040.hdr.sgml : 20131115 20131115111345 ACCESSION NUMBER: 0001017480-13-000040 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20131115 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20131115 DATE AS OF CHANGE: 20131115 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HIBBETT SPORTS INC CENTRAL INDEX KEY: 0001017480 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-MISCELLANEOUS SHOPPING GOODS STORES [5940] IRS NUMBER: 208159608 FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-20969 FILM NUMBER: 131222892 BUSINESS ADDRESS: STREET 1: 2700 MILAN COURT CITY: BIRMINGHAM STATE: AL ZIP: 35211 BUSINESS PHONE: 2059424292 MAIL ADDRESS: STREET 1: 2700 MILAN COURT CITY: BIRMINGHAM STATE: AL ZIP: 35211 FORMER COMPANY: FORMER CONFORMED NAME: HIBBETT SPORTING GOODS INC DATE OF NAME CHANGE: 19960622 8-K 1 boa_loc.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) November 15, 2013


Hibbett Sports, Inc.
(Exact Name Of Registrant As Specified In Its Charter)


Delaware
000-20969
20-8159608
(State of Incorporation)
(Commission
(IRS Employer
 
File Number)
Identification No.)


2700 Milan Court
Birmingham, Alabama  35211
(Address of principal executive offices)


(205) 942-4292
(Registrant's telephone number, including area code)


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.

Line of Credit.  On November 15, 2013, Hibbett Sports, Inc. (Company) executed an amendment to its existing unsecured revolving credit facility between the Company and its subsidiaries and Bank of America, N.A.  The amount of the revolving credit facility remained unchanged at $50,000,000 and is effective November 15, 2013 through November 18, 2014 with an interest rate at prime plus 2%.  The credit agreement amendment is attached hereto as Exhibit 10.1 and is incorporated herein by this reference.

Item 9.01.  Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.
Description
10.1
Amendment No. 6 to Loan Documents


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.



 
HIBBETT SPORTS, INC.
 
 
 
 
By:
/s/ Scott J. Bowman
 
 
Scott J. Bowman
 
 
Senior Vice President and Chief Financial Officer


November 15, 2013


EXHIBIT INDEX



Exhibit No.
Description
10.1
Amendment No. 6 to Loan Documents

EX-10.1 2 boa_agreement.htm
Exhibit 10.1

AMENDMENT NO. 6 TO LOAN DOCUMENTS

This Amendment No. 6 to Loan Documents (this "Amendment") dated as of November 15, 2013, is between BANK OF AMERICA, N.A. (the "Lender") and HIBBETT SPORTS, INC. (the "Borrower").

RECITALS

A.            The Borrower has executed various documents concerning credit extended by the Lender, including, without limitation, the following documents (the "Loan Documents"):

1.
A certain letter agreement dated January 29, 2008 between the Borrower and the Lender, as amended by Amendment No. 1 to Loan Documents dated as of November 20, 2008, Amendment No. 2 to Loan Documents dated as of November 20, 2009, Amendment No. 3 to Loan Documents dated as of November 19, 2010, Amendment No. 4 to Loan Documents dated as of November 18, 2011 and Amendment No. 5 to Loan Documents dated as of November 16, 2012 (collectively, the "Letter Agreement").

2.
A certain Demand Note dated February 4, 2008 in the original principal amount of $50,000,000.00 executed by the Borrower in favor of the Lender, as amended by Amendment No. 1 to Loan Documents dated as of November 20, 2008, Amendment No. 2 to Loan Documents dated as of November 20, 2009, Amendment No. 3 to Loan Documents dated as of November 19, 2010, Amendment No. 4 to Loan Documents dated as of November 18, 2011 and Amendment No. 5 to Loan Documents dated as of November 16, 2012 (collectively, the "Note").

B.            The Lender and the Borrower desire to amend the Loan Documents as set forth herein.

NOW, THEREFORE, for TEN DOLLARS ($10.00) in hand paid and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:

1.            Definitions.  Capitalized terms used but not defined in this Amendment shall have the meaning given to them in the Loan Documents.

2.            Amendments to Letter Agreement.  The Letter Agreement is hereby amended as follows:

(a)
By deleting "November 18, 2013" as the Expiration Date and substituting in lieu thereof "November 18, 2014".

(b)
By deleting the section entitled "Documentation" and substituting in lieu thereof the following:

"Documentation: The Loans shall be evidenced by that certain Demand Note dated February 4, 2008 executed by Borrower in favor of Lender, as amended by Amendment No. 1 to Loan Documents dated as of November 20, 2008, Amendment No. 2 to Loan documents dated as of November 20,2009, Amendment No. 3 to Loan Documents dated as of November 19, 2010, Amendment No. 4 to Loan Documents dated as of November 18, 2011, Amendment No. 5 to Loan Documents dated as of November 16, 2012 and Amendment No. 6 to Loan Documents dated as of November 15, 2013 (as it may be further amended or modified from time to time, the "Note").  The Borrower shall execute and deliver to the Lender such other documents as the Lender may reasonably request from time to time."

3.            Amendments to Note.  The Note is hereby amended as follows:

(a)
By deleting "November 18, 2013" from the 3rd paragraph and substituting in lieu thereof "November 18, 2014".

4.            Representations and Warranties.  When the Borrower signs this Amendment, the Borrower represents and warrants to the Lender that:  (a) this Amendment is within the Borrower's powers, has been duly authorized, does not conflict with any of the Borrower's organizational papers and is the legal, valid and binding obligation of the Borrower enforceable against it in accordance with its terms, and (b) that the person or persons executing this Amendment on behalf of the Borrower are duly appointed officers or other representatives of the Borrower with authority to execute and deliver this Amendment on behalf of the Borrower.

5.            Conditions.  This Amendment will be effective when each of the following conditions shall have been satisfied, as determined by the Lender in its sole discretion and the Lender shall have accepted this Amendment (notice of which acceptance is hereby waived by the Borrower).

(a)
The Lender has received evidence that the execution, delivery and performance by the Borrower of this Amendment and any instrument or agreement required under this Amendment have been duly authorized.

(b)
This Amendment has been executed by the Borrower and the Lender.

6.            Effect of Amendment; References.

(a)
Except as expressly amended hereby, all of the terms and conditions of the Loan Documents shall remain unchanged and in full force and effect and the Borrower hereby reaffirms its obligations under the Loan Documents to which it is a party as amended by this Amendment, without defense, right of set off or recoupment, claim or counterclaim of any kind or nature (and to the extent there exists any such defense, right of set off or recoupment, claim or counterclaim on the date hereof, the same is hereby forever released, discharged and waived by the Borrower).

(b)
This Amendment (i) is limited precisely as specified herein and does not constitute nor shall be deemed to constitute a modification, acceptance or waiver of any other provision of the Loan Documents, (ii) is not intended to be nor shall it be construed to create, a novation or an accord and satisfaction of any obligation or liability of the Borrower under the Loan Documents, and (iii) shall not prejudice or be deemed to prejudice any rights or remedies the Lender may now have or may in the future have under or in connection with the Loan Documents.

(c)
All references in any Loan Document to any other Loan Document amended hereby shall be deemed to be a reference to such Loan Document as amended by this Amendment.

7.            Miscellaneous.

(a)
This Amendment shall be governed by and construed in accordance with the laws of the state provided in the Loan Documents.

(b)
This Amendment may be executed in counterparts, each of which when so executed shall be deemed an original, but all such counterparts together shall constitute but one and the same instrument.  Delivery of an executed signature page of this Amendment by facsimile or electronic transmission shall be effective as a delivery of a manually executed counterpart thereof.


IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed under seal and delivered by their respective duly authorized representatives on the date first written above

BANK OF AMERICA, N.A.


 
By:
/s/ David B. Jackson
 
Name:
David B. Jackson
 
Title:
Senior Vice President
 
 
 
 
 
 
 
HIBBETT SPORTS, INC.
 
By:
/s/ Scott Bowman
 
Name:
Scott Bowman
 
Title:
Senior Vice President and CFO













End of Exhibit 10.1

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