Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Good Times Restaurants Inc. incurred revolving credit of $8.0 million with Cadence Bank at differing interest rates based upon varying additions to the Federal Funds Rate, maturing April 20, 2028.
- Instrument
- revolving credit
- Principal
- $8.0 million
- Counterparty
- Cadence Bank
- Rate
- differing interest rates based upon varying additions to the Federal Funds Rate,
- Maturity
- April 20, 2028
- Event
- incurrence
Exact text from the filing
The Senior Credit Facility provides for an $8.0 million senior revolving loan (the “Revolver”) and amends and restates the Company’s prior credit facility with Cadence in its entirety.
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Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.95
Good Times Restaurants Inc.: On April 20, 2023, the Board of Directors adopted amended and restated bylaws, effective immediately, which include provisions for remote meetings, modify delivery methods and time requirements for notices and special meetings, and make certain technical, modernizing and clarifying changes (effective 2023-04-20).
- Change
- bylaw amendment
- Effective
- 2023-04-20
Exact text from the filing
On April 20, 2023, the Board of Directors of Good Times Restaurants Inc. (“ the Board ”) adopted amended and restated bylaws of the Company (the bylaws, as so amended and restated, the (“ Amended and Restated Bylaws ”), effective immediately. The Amended and Restated Bylaws, among other things, amend the Company’s prior bylaws as follows: • Include provisions for remote meetings • Modify the delivery methods, amount of time required for notice and required percent of ownership to call a special meeting of the Board • Modify the delivery method and amount of time required for notice of the annual meeting of shareholders • Modify the delivery method and amount of time required to raise new business or nominate directors for the annual meeting of shareholders • Certain other technical, modernizing and clarifying changes
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Good Times Restaurants Inc. amended Amended and Restated Credit Agreement with Cadence Bank valued at $8.0 million (effective 2023-04-20).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Cadence Bank
- Value
- $8.0 million
- Effective
- 2023-04-20
Exact text from the filing
On April 20, 2023, Good Times Restaurants Inc. (the “Company”) and each of its wholly-owned subsidiaries, as guarantors (the “Subsidiary Guarantors”), entered into an Amended and Restated Credit Agreement (the “Senior Credit Facility”) with Cadence Bank, as administrative agent and sole lender (“Cadence”).
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