UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 Regulation FD Disclosure
Novanta Inc. (the “Company”) is aware of media reports indicating the closure of Silicon Valley Bank (“SVB”) and appointment of the Federal Deposit Insurance Corporation as receiver. SVB is one of seven lenders under Novanta’s Third Amended and Restated Credit Agreement, as amended (“Credit Agreement”).
The SVB’s lending commitment is approximately 10% of the total $695 million commitment under the Credit Agreement.
The Company’s current balance of cash and cash equivalents with SVB is less than $400,000.
A copy of the Credit Agreement is filed as Exhibit 10.1 to the Company's Form 8-K filed with the Securities and Exchange Commission (“SEC”) on January 3, 2020 and subsequent amendments to the Credit Agreement are filed as Exhibit 10.1 to Form 8-K filed with the SEC on March 31, 2020, Exhibit 10.1 to Form 10-Q filed with the SEC on August 6, 2020, Exhibit 10.1 to Form 10-Q filed with the SEC on November 9, 2021, Exhibit 10.1 to Form 8-K filed with the SEC on October 7, 2021, and Exhibit 10.1 to Form 8-K filed with the SEC on March 15, 2022.
The information contained in this Item 7.01 is furnished under Item 7.01 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except as shall be expressly set forth by specific reference in such filing.
SIGNATURES
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 thereunto duly authorized.
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Novanta Inc. |
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Date: March 10, 2023 |
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By: |
/s/ Robert J. Buckley |
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Robert J. Buckley |
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Chief Financial Officer |
Document and Entity Information |
Mar. 10, 2023 |
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| Cover [Abstract] | |
| Document Type | 8-K |
| Amendment Flag | false |
| Document Period End Date | Mar. 10, 2023 |
| Entity Registrant Name | NOVANTA INC. |
| Entity Central Index Key | 0001076930 |
| Entity Emerging Growth Company | false |
| Entity File Number | 001-35083 |
| Entity Incorporation, State or Country Code | A3 |
| Entity Tax Identification Number | 98-0110412 |
| Entity Address, Address Line One | 125 Middlesex Turnpike |
| Entity Address, City or Town | Bedford |
| Entity Address, State or Province | MA |
| Entity Address, Postal Zip Code | 01730 |
| City Area Code | 781 |
| Local Phone Number | 266-5700 |
| Written Communications | false |
| Soliciting Material | false |
| Pre-commencement Tender Offer | false |
| Pre-commencement Issuer Tender Offer | false |
| Title of 12(b) Security | Common shares, no par value |
| Trading Symbol | NOVT |
| Security Exchange Name | NASDAQ |