# EDGAR Filing Document

**Accession Number:** 0001617669
**File Stem:** 0001617669-23-000013
**Filing Date:** 2023-3
**Character Count:** 11197
**Document Hash:** 8e9b3fa81c9e1de27d217751e5c8bc7c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001617669-23-000013.hdr.sgml**: 20230324

**ACCESSION NUMBER**: 0001617669-23-000013

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20230323

**ITEM INFORMATION**: Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230324

**DATE AS OF CHANGE**: 20230324

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Unique Fabricating, Inc.
- **CENTRAL INDEX KEY:** 0001617669
- **STANDARD INDUSTRIAL CLASSIFICATION:** MOTOR VEHICLE PARTS & ACCESSORIES [3714]
- **IRS NUMBER:** 461846791
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-37480
- **FILM NUMBER:** 23760672

**BUSINESS ADDRESS:**
- **STREET 1:** 800 STANDARD PARKWAY
- **CITY:** AUBURN HILLS
- **STATE:** MI
- **ZIP:** 48326
- **BUSINESS PHONE:** 248-853-2333

**MAIL ADDRESS:**
- **STREET 1:** 800 STANDARD PARKWAY
- **CITY:** AUBURN HILLS
- **STATE:** MI
- **ZIP:** 48326

?xml version="1.0" ? ufab-20230323

**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): March 23, 2023**

**UNIQUE FABRICATING, INC.**

(Exact name of registrant as specified in its Charter)

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| | | |
|:---|:---|:---|
| **Delaware** | **001-37480** | **46-1846791** |
| (State or other jurisdiction<br>of Incorporation) | (Commission<br>File Number) | (I.R.S. Employer<br>Identification No.) |

---

---

| | | |
|:---|:---|:---|
| **800 Standard Parkway** | **800 Standard Parkway** | |
| **Auburn Hills,** | **Michigan** | **48326** |
| (Address of principal executive offices) | (Address of principal executive offices) | (Zip Code) |

---

Registrant's telephone number, including area code: **(248) 853-2333**

**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:

□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:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common stock, par value $.001 per share | UFAB | NYSE American |

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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. □

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**Item 2.04. Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.**

The Company received notice, dated March 23, 2023 (the "Notice"), from Citizens Bank, N.A, as Agent ("Agent") under the Amended and Restated Credit Agreement dated as of November 8, 2018, as amended, among Unique Fabricating NA, Inc. and Unique - Intasco Canada, Inc. (the "Borrowers"), their subsidiaries (the "Guarantors"), the Agent and the financial institutions signatory thereto (the "Lenders") that the Borrowers and Guarantors are in default under the Credit Agreement and other loan documents as a result of the failure to repay the indebtedness under the Credit Agreement by the repayment date, February 17, 2023. The notice stated that as of its date, the Agent and the Lenders will no longer allow automatic advances under the revolving line of credit. From and after March 23, 2023 any further advances under the revolving line of credit will be at the discretion of the Lenders and subject to such additional terms and conditions as may be required by the Lenders for any such advances. The notice further stated that as a result of the default, the Agent and Lenders are entitled to, and reserve their rights to, pursue their rights and remedies available to them under the terms of the loan documents, at law or in equity to protect their interests, as determined by the Agent and the Lenders in their sole discretion. As of March 23, 2023, there was $44.1 million principal outstanding under the Credit Agreement, including under the revolving line of credit, term loans and capital expenditure loans.

The summary of the Notice does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Notice filed as Exhibit 10.1 to this Current Report and incorporated herein by reference.

**Item 9.01. Exhibits.**

(d) *Exhibits*. The following exhibits are filed herewith:

**EXHIBIT INDEX**

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| <u>[10.1](ex101noticedatedmarch232023.htm)</u> | <u>[Notice dated March 23, 2023](ex101noticedatedmarch232023.htm)</u> |
| 104 | Cover Page Interactive Data File (the Cover Page Interactive Data File is embedded with the Inline XBRL document). |

---

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**<u>SIGNATURE</u>**

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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| | | |
|:---|:---|:---|
| | **UNIQUE FABRICATING, INC.** | **UNIQUE FABRICATING, INC.** |
| Date: March 24, 2023 | By: | */s/ Brian P. Loftus* |
|  |  | Brian P. Loftus |
|  |  | Chief Financial Officer |

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## Exhibit 10.1

March 23, 2023

**<u>Via Next Day Air and E-Mail</u>**

Unique Fabricating NA, Inc.

Unique-Intasco Canada, Inc.

Unique Fabricating, Inc.

Unique-Chardan, Inc.

Unique Molded Foam Technologies, Inc.

Unique-Prescotech, Inc.

Unique Fabricating Realty, LLC

Unique Fabricating South, Inc.

Unique-Intasco USA, Inc.

Unique Fabricating de Mexico, S.A. de C.V.

800 Standard Parkway

Auburn Hills, MI 48326

Attention: Byrd Douglas Cain

Re: Amended and Restated Credit Agreement dated November 8, 2018, as amended (collectively, the "Credit Agreement")

Dear Mr. Cain:

We write as the Agent and on behalf of the Lenders with regard to the above-referenced Credit Agreement and the Loans made to the Borrowers by the Lenders pursuant thereto. Capitalized terms used in this letter, but not defined in this letter, shall have the meanings ascribed to them in the Credit Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This letter is to inform you that the Borrowers and Guarantors are in default of their obligations under the Credit Agreement and the other Loan Documents in that the Borrowers did not repay the Indebtedness by the Repayment Date as required by Section 7A of the Credit Agreement (the "Default"). Specific enumeration of the aforesaid Default shall not be construed as waiving any other defaults that may exist under the terms and conditions of the Loan Documents.

Notwithstanding the Default, the Agent and Lenders continued to allow advances of the Revolving Credit after the Repayment Date to allow the Borrowers and Guarantors time to address the Defaults in consultation with the Lenders and Borrowers' customers and to avoid disruption of the Customers' production. Those efforts have been to no avail. Accordingly, as of the date of this letter, the Agent and Lenders will no longer allow automatic advances of the Revolving Credit. From and after March 23, 2023 any further advances of the Revolving Credit will be at the discretion of the Lenders and subject to such additional terms and conditions as may be required by the Lenders for any such advances of the Revolving Credit.

------

Unique Fabricating NA, Inc.

Unique-Intasco Canada, Inc., et. al

March 23, 2023

Moreover, as a result of the Default, the Agent and Lenders are entitled to, and reserve their rights to, pursue their rights and remedies available to them under the terms of the Loan Documents, at law or in equity to protect their interests, as determined by the Agent and Lenders in their sole discretion. Neither the Agent's or Lenders' enforcement of any particular right they may have under the Loan Documents, at law, or in equity, nor the timing of their enforcement of any particular right they may have under the Loan Documents at law or in equity, shall be construed or considered as a waiver by any of them of any of the other rights or remedies they may possess under the Loan Documents, at law, or in equity, or an election of remedies. All of the rights and remedies available to the Agent and Lenders under the Loan Documents, at law or in equity shall be cumulative and may be exercised separately, successively or concurrently at the sole discretion of the Agent and Lenders. Accordingly, the Agent and Lenders shall be free to invoke or pursue any right or remedy available to them at any time, including any time after having previously invoked a right or remedy available to them.

Nothing contained in this letter or in any other communication between the Agent or any Lender and the Borrowers or Guarantors shall be deemed to constitute or shall be construed as: (a) a waiver or release of any of the Agent's or Lenders' rights or remedies against the Borrowers or any person that is a party to the Loan Documents or pursuant to applicable law, (b) a course of dealing obligating the Lenders to provide any accommodations, financial or otherwise, to the Borrowers or Guarantors at any time, (c) a commitment or an agreement to make a commitment with respect to any possible restructure of the terms provided in the Loan Documents, or (d) having terminated, extinguished or discharged all or any portion of the Indebtedness due to the Lenders under the Loan Documents. Nothing contained in this letter shall confer on the Borrowers or any other person or entity any right to other or further notice or cure periods with respect to the existing Default. The Agent and Lenders hereby expressly reserve and preserve all of the rights and remedies they possess under the Loan Documents and applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;Govern your actions accordingly,

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| |
|:---|
| Very truly yours, |
| CITIZENS BANK, N.A. |
| /s/ Michael Flynn |
| Michael Flynn |
| Senior Vice President |

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cc: D. Bargamian (via email)

<br>