TTM TECHNOLOGIES INC false 0001116942 0001116942 2024-08-01 2024-08-01

 

 

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): August 1, 2024

 

 

TTM TECHNOLOGIES, INC.

(Exact name of Registrant as specified in its charter)

 

 

 

Delaware   000-31285   91-1033443

(State of

Incorporation)

  

(Commission

File Number)

  

(I.R.S. Employer

Identification No.)

 

200 East Sandpointe, Suite 400, Santa Ana, CA   92707
(Address of principal executive offices)   (Zip Code)

(714) 327-3000

Registrant’s telephone number, including area code

N/A

(Former name or former address, if changed since last report)

 

 

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))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

  

Trading

Symbol(s)

  

Name of each exchange

on which registered

Common Stock, $0.001 par value   TTMI   Nasdaq Global Select Market

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 1.01. Entry Into a Material Definitive Agreement.

On August 1, 2024, TTM Technologies, Inc. (the “Company”) entered into a First Amendment (the “Amendment”) to that certain Amended & Restated Term Loan Credit Agreement, dated as of May 30, 2023 (the “Term Loan Credit Agreement”), by and among the Company, JPMorgan Chase Bank, N.A., as Administrative Agent, and the several lenders from time to time parties thereto. The Amendment provides for a new $346.5 million senior secured term loan credit facility (the “New Term Loan Facility”) that (1) amends and restates the Company’s existing senior secured term loan credit facility (the “2023 Term Loan Facility”), (2) refinances the full amount of outstanding indebtedness under the 2023 Term Loan Facility, (3) bears interest at a floating rate of 1-month Chicago Mercantile Exchange (CME) Term Secured Overnight Financing Rate (SOFR) plus an applicable margin of 2.25%, 50 basis points lower than the 2023 Term Loan Facility, and (4) makes certain other changes to the Term Loan Credit Agreement as set forth therein. The New Term Loan Facility maintains the same scheduled maturity date of May 30, 2030 as the 2023 Term Loan Facility. We estimate we will incur fees and expenses of approximately $1.0 million related to the Amendment.

The foregoing summary of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, which will be included as an exhibit to the Company’s next Quarterly Report on Form 10-Q to be filed with the Securities and Exchange Commission.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The disclosure required by this Item is included in Item 1.01 and is incorporated herein by reference.

 

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 hereunto duly authorized.

 

    TTM TECHNOLOGIES, INC.
Date: August 1, 2024    

/s/ Daniel J. Weber

    By:   Daniel J. Weber
      Executive Vice President, Chief Legal Officer & Secretary
v3.24.2.u1
Document and Entity Information
Aug. 01, 2024
Cover [Abstract]  
Entity Registrant Name TTM TECHNOLOGIES INC
Amendment Flag false
Entity Central Index Key 0001116942
Document Type 8-K
Document Period End Date Aug. 01, 2024
Entity Incorporation State Country Code DE
Entity File Number 000-31285
Entity Tax Identification Number 91-1033443
Entity Address, Address Line One 200 East Sandpointe
Entity Address, Address Line Two Suite 400
Entity Address, City or Town Santa Ana
Entity Address, State or Province CA
Entity Address, Postal Zip Code 92707
City Area Code (714)
Local Phone Number 327-3000
Written Communications false
Soliciting Material false
Pre Commencement Tender Offer false
Pre Commencement Issuer Tender Offer false
Security 12b Title Common Stock, $0.001 par value
Trading Symbol TTMI
Security Exchange Name NASDAQ
Entity Emerging Growth Company false
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