Current Report Filing (8-k)
February 25 2021 - 4:41PM
Edgar (US Regulatory)
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):
February 25, 2021
Dover
Motorsports, Inc.
(Exact name of registrant as specified in
its charter)
Delaware
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001-11929
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51-0357525
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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.)
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1131
N. DuPont Highway
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Dover,
Delaware
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19901
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant's telephone number, including
area code (302) 883-6500
N/A
(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:
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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))
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Securities registered pursuant to Section 12(b) of
the Act:
Title of
Class
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Trading
Symbol(s)
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Name of
Exchange on Which Registered
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Common Stock, $.10 Par Value
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DVD
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New York Stock Exchange
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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. ¨
Item 1.01 Entry into a Material
Definitive Agreement
On February 25,
2021, Dover Motorsports, Inc. and its wholly owned subsidiaries Dover International Speedway, Inc. and Nashville Speedway,
U.S.A., Inc., (collectively, the “Borrowers”), amended its credit agreement with its bank group. Among other things,
the credit facility was modified to: extend the maturity date to September 1, 2024; replace the fixed charge coverage ratio
with an interest coverage ratio; reduce the total available borrowings under the facility to $25,000,000; and ensure compliance
with applicable regulations. As of February 25, 2021, there are no borrowings outstanding under the credit facility.
The foregoing summary
of the modification agreement is qualified in its entirety by the full text thereof, which is attached hereto as Exhibit 10.1
and is 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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Dover
Motorsports, Inc.
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/s/
Denis McGlynn
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Denis
McGlynn
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President
and Chief Executive Officer
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Dated: February 25, 2021
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