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): May 1, 2008
CALAVO GROWERS, INC.
(Exact Name of Registrant as Specified in Charter)
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| California |
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000-33385 |
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33-0945304 |
(State or Other
Jurisdiction of
Incorporation)
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(Commission File Number)
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(IRS Employer
Identification No.) |
1141-A
Cummings Road, Santa Paula, California 93060
(Address of Principal Executive Offices) (Zip Code)
(Former Name or Former Address, if Changed Since Last Report)
Registrant’s telephone number, including area code: (805) 525-1245
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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c)) |
Item 1.01 Entry into a Material Definitive Agreement.
The discussion below in Item 2.03 is hereby incorporated by reference into this Item 1.01.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
Effective May 1, 2008, Calavo Growers, Inc. (“we” or “the Company”), and Farm Credit West,
PCA, entered into a Term Revolving Credit Agreement (the “Agreement”). Under the terms of the
Agreement, we are advanced funds for the purchase and installation of capital items and other
corporate needs of the Company. Total credit available under the borrowing agreement is now $30
million, up from $20 million. The credit facility contains various financial covenants, the most
significant relating to working capital, tangible net worth (as defined), and Earnings Before
Interest, Taxes, Depreciation and Amortization (EBITDA) (as defined).
The preceding discussion is qualified by reference to the Agreement, which is filed as an
exhibit to this Current Report on Form 8-K and is incorporated herein.
Item 9.01. Financial Statements and Exhibits.
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10.1
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Term Revolving Credit Agreement
dated as of May 1, 2008 between
Calavo Growers, Inc. and Farm Credit West, PCA. |
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