UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
CURRENT REPORT
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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 June 24, 2013, the subsidiaries of Silvercrest L.P. entered into a $15.0 million credit facility with City National Bank. Certain subsidiaries of Silvercrest L.P. are the borrowers under such facility and Silvercrest L.P. guarantees the obligations of its subsidiaries under the credit facility (Silvercrest L.P. and such borrower subsidiaries collectively, the “Credit Parties”). The credit facility is secured by certain assets of Silvercrest L.P. and the borrower subsidiaries. Effective July 1, 2019, the credit facility was increased and consists of a $25.5 million delayed draw term loan that matures on July 1, 2026 and a $10.0 million revolving credit facility with a stated maturity date of June 19, 2021. On June 17, 2021, the Credit Parties and City National Bank entered into the Ninth Amendment to the Credit Agreement (the “Ninth Amendment”) whereby the $10.0 million revolving credit facility maturity date was extended until June 18, 2022. The credit agreement and all other loan documents between the Credit Parties and City National Bank continued in full force and effect.
The Ninth Amendment is filed herewith as Exhibit 4.1 and is incorporated herein by this reference.
Item 9.01 Financial Statements and Exhibits.
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Exhibit |
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Description |
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4.1 |
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104 |
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Cover Page Interactive Data File (embedded within Inline XBRL document). |
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: June 17, 2021
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Silvercrest Asset Management Group Inc. |
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By: |
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/s/ Scott A. Gerard |
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Name: Scott A. Gerard |
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Title: Chief Financial Officer |