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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): September 1, 2000
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Crown Crafts, Inc.
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(Exact name of registrant as specified in its charter)
Georgia 1-7604 58-0678148
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(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification
incorporation) Number)
1600 RiverEdge Parkway, Suite 200, Atlanta, Georgia 30328
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (770) 644-6400
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Item 5. Other Events.
On August 8, 2000 the Company announced that it had reached an
agreement in principle with its lenders, Wachovia Bank, N.A., Bank of America,
N.A., and The Prudential Insurance Company of America, to extend to April 3,
2001 the expiration date of its loan agreements and that formal documents
reflecting these new arrangements would be executed as soon as practical.
As of September 1, 2000 the Company has refinanced its $126 million
credit facilities and executed definitive agreements with its lenders to extend
from August 31, 2000 to April 3, 2001 the expiration date of its loan agreements
and amend the covenants in the loans. The lenders will receive an increase of 1%
in interest rates and, under certain conditions, warrants exercisable for 10% of
the Company's shares.
The descriptions of the loan agreement amendments contained herein are
qualified in their entirety by reference to the terms of (1) Global Amendment
No. 2 to Intercreditor Agreements, (2) Amendment No. 4 to Revolving Credit
Agreement, and (3) Amendment No. 5 of 1995 Note Agreement, forms of which are
attached hereto as Exhibits 10.1 through 10.3, respectively, and incorporated
herein by this reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits. The following is a list of the Exhibits attached hereto:
Exhibit No. 10.1 Global Amendment No. 2 to Intercreditor Agreements
Exhibit No. 10.2 Amendment No. 4 to Revolving Credit Agreement
Exhibit No. 10.3 Amendment No. 5 of 1995 Note Agreement
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Company has duly caused this Report to be signed on its behalf by the
undersigned, thereunto duly authorized.
CROWN CRAFTS, INC.
By: /s/ Carl A. Texter
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Name: Carl A. Texter
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Title: Chief Financial Officer
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Dated: September 13, 2000
