secwatch.observer — SEC 8-K summary
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Issuer:     WINMARK CORP (WINA)
CIK:        0000908315
Form:       8-K
Filed at:   2021-09-10T23:59:59+00:00
Accession:  0000908315-21-000029
Event type: debt
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Winmark issues $30M of 3.18% Senior Secured Notes due 2028
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- $30M principal, 3.18% annual interest, quarterly payments, 7-year final maturity.
- Notes issued to affiliates of PGIM, Inc. under existing note agreement; prepayable with Yield Maintenance.
- Proceeds for general corporate purposes, including potential share repurchases and dividends.
- Amendments remove tangible net worth covenant and increase flexibility for shareholder distributions.
- Credit agreement amended to permit up to $30M additional term notes and replace LIBOR as interest rate option.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/908315/000090831521000029/0000908315-21-000029-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/908315/000090831521000029/c315-20210910x8k.htm
  HTML page:      https://secwatch.observer/filing/0000908315-21-000029

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