STONERIDGE, INC. 8-K
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): November 2, 2007
Commission file number: 001-13337
(Exact name of registrant as specified in its charter)
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| Ohio
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34-1598949 |
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(State or other jurisdiction of
incorporation or organization)
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(I.R.S. Employer Identification No.) |
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| 9400 East Market Street, Warren, Ohio
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44484 |
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| (Address of principal executive offices)
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(Zip Code) |
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| (330) 856-2443 |
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| Registrant’s telephone number, including area code |
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 (see General
Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o 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.
On November 2, 2007, Stoneridge, Inc. (the “Company”) entered into an asset-based credit facility,
which permits borrowing up to a maximum level of $100.0 million. The available borrowing capacity
on this credit facility is based on eligible current assets, as defined. The asset-based credit
facility does not contain maintenance covenants; however, restrictions include limits on capital
expenditures, operating leases and dividends. The asset-based credit facility expires on November
1, 2011, and requires a commitment fee of 0.25% on the unused balance. Interest is payable
quarterly at either (i) the higher of the prime rate or the Federal Funds rate plus 0.50%, plus a
margin of 0.00% to 0.25% or (ii) LIBOR plus a margin of 1.00% to 1.75%, depending upon the
Company’s undrawn availability, as defined.
The Credit and Security Agreement is filed as Exhibit 10.1 to this Report.
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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Stoneridge, Inc.
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| Date: November 8, 2007 |
/s/ George E. Strickler
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George E. Strickler, Executive Vice President, |
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Chief Financial Officer and Treasurer
(Principal Financial and Accounting Officer) |
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10.1 Credit and Security Agreement dated November 2, 2007.