Company: AVD
Filing Date: 2025-08-19
Form Type: 8-K
Source: 0001193125-25-183463
Chunk: 0

Company: AMERICAN VANGUARD CORP
Filing Date: 2025-08-19
Form: 8-K
Item: Item 1.01
Chunk 0
---
Item 1.01      Entry into a Material Definitive Agreement  

On August 18, 2025, AMVAC Chemical Corporation (“ AMVAC”), principal operating subsidiary of American Vanguard Corporation (“ Registrant” or the “ Company”), as borrower, and affiliates (including Registrant), as guarantors and/or borrowers, entered into Amendment Number Twelve (the “ Amendment”) to the Third Amended and Restated Loan and Security Agreement (the “ Loan Agreement”) with a group of commercial lenders led by BMO Bank, N. A. (successor to the Bank of the West), as administrative agent for the lenders.

The Amendment extends the maturity date of the Loan Agreement from August 5, 2026 to December 31, 2026 (the “ Loan Extension”) and amends the borrowing capacity under the revolving credit facility to $245,000,000 through November 29, 2025, then $225,000,000 until December 30, 2025, then $200,000,000 until March 31, 2026 and then $180,000,000 through December 31, 2026.

The Amendment also included additional changes to the Loan Agreement, including: (i) amending the applicable margins for the applicable interest rates and unused line fee and letter of credit fee; (ii) adding a year-to-dateConsolidated EBIDTA requirement of $4,500,000 as of June 30, 2025, $9,500,00 as of September 30, 2025 and $35,000,000 as of December 31, 2025 and a TTM Consolidated EBITDA requirement of not less than $37,500,000 as of March 31, 2026; (iii) requiring the Company to make prepayments on the loans once the Company’s cash balance exceeds a threshold; and (iv) suspending the Total Leverage Ratio covenant until June 30, 2026 and then applying a fiscal quarter end ratio of 4.00:1.00.

The foregoing summary is qualified in its entirety by reference to the Amendment, a copy of which is attached hereto as Exhibit 10.1 and incorporated by reference herein.