Current Report Filing (8-k)
August 18 2021 - 7:01AM
Edgar (US Regulatory)
false
0001061069
0001061069
2021-08-17
2021-08-17
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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 18, 2021 (August 17, 2021)
AVALON HOLDINGS CORPORATION
(Exact Name of Registrant as Specified in its Charter)
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Ohio
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1-14105
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34-1863889
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(State or Other Jurisdiction
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(Commission File
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(IRS Employer
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of Incorporation)
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Number)
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Identification No.)
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One American Way, Warren, Ohio 44484
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (330) 856-8800
(Former name and address, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Class A Common Stock, $0.01 par value
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AWX
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NYSE American
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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 240.13e4(c))
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 17, 2021 Avalon Holdings Corporation and certain wholly-owned subsidiaries entered into a Change in Term Agreement with Premier Bank (the “Lender”) which amended its existing Business Loan and Promissory Note Agreements (collectively the “Line of Credit Agreement”) dated May 31, 2018, as previously amended on August 5, 2020. The Change in Terms Agreement extends the maturity date of the Line of Credit Agreement from July 31, 2022 to July 31, 2023.
The forgoing description of the Change in Terms Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Change in Terms Agreement, which is filed with this report as Exhibit 10.1 and is incorporated herein by reference.
The other material terms of the Line of Credit Agreement, dated May 31, 2018, and amendment on August 5, 2020, with the Lender are described in the Current Reports on Form 8-K filed with the Securities and Exchange Commission on May 31, 2018 and August 6, 2020, respectively, of which are incorporated herein by reference.
ITEM 9.01 Financial Statements and Exhibits
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.
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AVALON HOLDINGS CORPORATION
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(Registrant)
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DATED: August 18, 2021
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/s/ Bryan P. Saksa
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By:
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Bryan P. Saksa
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Chief Financial Officer and Treasurer
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