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) October 29, 2012
PRIMORIS SERVICES CORPORATION
(Exact name of registrant as specified in its charter)
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Delaware |
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001-34145 |
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20-4743916 |
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(State or other jurisdiction of incorporation) |
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(Commission File Number) |
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(IRS Employer Identification No.) |
2100 McKinney Avenue, Suite 1500, Dallas, TX 75201
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code (214) 740-5600
Not Applicable
(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 ( see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
As used in this Current Report on Form 8-K, the terms “we,” “us,” “our” and the “Company” mean Primoris Services Corporation, a Delaware corporation, and our consolidated subsidiaries, taken together as a whole.
Item 1.01 Entry into a Material Definitive Agreement
Seventh Amendment to Loan and Security Agreement with PrivateBank and Trust Company
On October 29, 2012, we entered into an Eighth Amendment (the “Eighth Amendment”) to our Loan and Security Agreement (the “Agreement”), dated October 29, 2009, with The PrivateBank and Trust Company. A copy of the Eighth Amendment is attached as Exhibit #10.1 to this Current Report on Form 8-K. The Eighth Amendment provides for a revolving line of credit in the total aggregate amount of $49 million. The Eighth Amendment extends the maturity dates and provides for the revolving loan amounts as follows:
· a revolving loan in the amount of $30 million (the “Revolving Loan A”), with a maturity date of October 26, 2015; and
· a revolving loan in the amount of $19 million (the “Revolving Loan B”), with a maturity date of October 24, 2013, decreasing to $5 million as of December 31, 2012.
Under the amended Agreement, the Lender agrees to issue letters of credit of up to $30 million under Revolving Loan A. Other than as described above, the Agreement remains unchanged. For a complete copy of the Agreement, please refer to our Current Report on Form 8-K/A (Amendment No. 1), as filed on August 3, 2010.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
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Exh. No. |
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Description |
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10.1 |
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Eighth Amendment to Loan and Security Agreement, dated October 29, 2012, by and among Primoris Services Corporation and The PrivateBank and Trust Company |
SIGNATURE
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.
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PRIMORIS SERVICES CORPORATION | ||
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Date: November 2, 2012 |
By: |
/s/ Peter J. Moerbeek | |
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Name: |
Peter J. Moerbeek |
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Title: |
Executive Vice President, Chief Financial Officer |