UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 1.01 | Entry into a Material Definitive Agreement. |
Sixth Amendment to Receivables Facility
On April 10, 2024, ADT LLC (“ADT”) and ADT Finance LLC (“ADT Finance”) entered a Sixth Amendment to the Receivables Financing Agreement, among ADT Finance, Mizuho Bank, Ltd., ADT, MUFG Bank Ltd., Starbird Funding Corporation, and BNP Paribas (the “Sixth Amendment to Receivables Financing Agreement”). The Sixth Amendment to Receivables Financing Agreement, among other things, (i) increases of the size of the uncommitted secured lending facility contemplated thereunder from the existing uncommitted capacity of $500 million to a new uncommitted capacity of $550 million, (ii) extends the Termination Date from April 10, 2024 to April 10, 2025, (iii) expands Eligible Receivables to include alarms and other home security products sold but not installed by ADT, and (iv) makes certain amendments to collateral tests, advance rates and similar provisions in connection therewith, together with certain related amendments. The parties had previously entered into the Fifth Amendment to Receivables Financing Agreement to extend the Termination Date from March 27, 2024 to April 10, 2024. In connection with the effectiveness of the Sixth Amendment to Receivables Financing Agreement, ADT Inc. was required to reaffirm its existing Performance Support Agreement in the form included as Annex A to the Sixth Amendment to Receivables Financing Agreement (the “Performance Support Agreement”).
The foregoing descriptions of the Sixth Amendment to Receivables Financing Agreement and Performance Support Agreement do not purport to be complete and are subject to, and qualified in their entirety by reference to the full text of the Sixth Amendment to Receivables Financing Agreement, including Annex A thereto, which is attached to this report as Exhibit 10.1 and incorporated by reference herein. Capitalized terms used herein have the meanings used in the Sixth Amendment to Receivables Financing Agreement.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit |
Description | |
| 10.1* | Sixth Amendment to the Receivables Financing Agreement, among ADT Finance LLC, Mizuho Bank, Ltd., ADT LLC, MUFG Bank, Ltd., Starbird Funding Corporation, and BNP Paribas, dated as of April 10, 2024 | |
| 104 | Cover Page Interactive Data File (embedded with the Inline XBRL document) | |
| * | Portions of this exhibit are redacted pursuant to Item 601(b)(10)(iv) of Regulation S-K and schedules of this exhibit have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Registrant agrees to furnish a copy of any redacted information and/or omitted schedules to the U.S. Securities and Exchange Commission upon request. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| Date: April 12, 2024 | ADT Inc. | |||||
| By: | /s/ Jeffrey Likosar | |||||
| Jeffrey Likosar | ||||||
| President, Corporate Development and Chief Transformation Officer and Interim Chief Financial Officer | ||||||