SECURITIES AND EXCHANGE COMMISSION
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report: February 15, 2005
(Date of earliest event reported)
MARINEMAX, INC.
Commission File No. 1-14173
| Delaware (State or other jurisdiction of incorporation or organization) |
59-3496957 (IRS Employer Identification Number) |
|
| 18167 U.S. Highway 19 North, Suite 300 Clearwater, Florida (Address of principal executive offices) |
33764 (ZIP Code) |
(727) 531-1700
(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:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))
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 | ||||||||
| ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS | ||||||||
| SIGNATURE | ||||||||
| EX-10.20 | ||||||||
ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On February 15, 2005, MarineMax, Inc., a Delaware corporation (the
“Company“) entered into an Amended and Restated Credit and Security Agreement,
executed on February 15, 2005, effective as of February 3, 2005, among the
Company and its subsidiaries, as Borrowers, Keybank National Association, Bank
of America, N.A., and various other lenders, as Lenders. |
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The credit facility replaces our previous credit facility with the
same financial institutions. The credit facility provides us a line of credit
with asset-based borrowing availability of up to $340 million for working
capital and inventory financing, with the amount of permissible borrowings
determined pursuant to a borrowing base formula. The credit facility also
permits approved-vendor floorplan borrowings of up to $20 million. The credit
facility accrues interest at a rate of LIBOR plus 150 to 260 basis points with
the interest rate based upon the ratio of our net outstanding borrowing to our
tangible net worth. The credit facility is secured by our inventory, accounts
receivable, equipment, furniture, and fixtures. The credit facility requires us
to satisfy certain covenants, including maintaining a leverage ratio tied to
our tangible net worth. The credit facility matures in January 2008, with two
one-year renewal options. |
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A copy of the form of the agreement is being filed with this
Current Report on Form 8-K as Exhibit 10.20. |
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
| (c) | Exhibits |
| 10.20 | Amended and Restated Credit and Security Agreement executed on February 15, 2005, effective as of February 3, 2005, among MarineMax, Inc. and its subsidiaries, as Borrowers, Keybank National Association, Bank of America, N.A., and various other lenders, as Lenders. |
SIGNATURE
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.
Dated: February 18, 2005
| MARINEMAX, INC. | ||||
| By: | /s/ Michael H. McLamb Michael H. McLamb Executive Vice President, Chief Financial Officer and Secretary |
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