OTHER INFORMATION
−Removed: During the six -month period ended September 29, 2024, none of the Company’s directors or officers informed the Company of the adoption, modification or termination of a “Rule 10 - b5 - 1 trading arrangement” or “non-Rule 10 - b5 - 1 trading arrangement,” as those terms are defined in Item 408 (a) of Regulation S-K.
+Added: On February 10, 2025, the Company and its subsidiaries entered into a letter agreement with CIT to amend the Company's financing agreement with CIT to:
+Added: (i) waive, with respect to the fiscal year ending March 30, 2025, and through the fiscal year ending March 29, 2026, the Company's obligation to comply with the fixed charge coverage ratio;
+Added: and (ii) increase the Excess Availability (as defined in the financing agreement) required to be maintained by the Company with respect to its revolving line of credit under the financing agreement from $7,000,000 to $7,500,000, until further notice to the Company by CIT.
+Added: After such notice, the Excess Availability shall be 50% of the outstanding balance of the Company's term loan under the financing agreement.
+Added: During the three -month period ended December 29, 2024, none of the Company’s directors or officers informed the Company of the adoption, modification or termination of a “Rule 10 - b5 - 1 trading arrangement” or “non-Rule 10 - b5 - 1 trading arrangement,” as those terms are defined in Item 408 (a) of Regulation S-K.
Exhibits required to be filed by Item 601 of Regulation S-K are included as Exhibits to this Quarterly Report are listed below.
15 unchanged sentences
and Manhattan Toy Europe, Limited, in favor of The CIT Group/Commercial Services, Inc.
+Added: Letter Agreement, dated December 27, 2024, among Crown Crafts, Inc., Sassy Baby, Inc., NoJo Baby & Kids, Inc.
+Added: and The CIT Group/Commercial Services, Inc.
+Added: Eighteenth Amendment to Financing Agreement, dated February 10, 2025, by and among Crown Crafts, Inc., Sassy Baby, Inc., NoJo Baby & Kids, Inc.
+Added: and The CIT Group/Commercial Services, Inc.
Rule 13a-14(a)/15d-14(a) Certification by the Company’s Chief Executive Officer.
2 unchanged sentences
Section 1350 Certification by the Company’s Chief Financial Officer.
−Removed: Interactive data files pursuant to Rule 405 of SEC Regulation S-T in connection with the Company’s Form 10-Q for the quarterly period ended June 30, 2024, formatted in iXBRL (Inline eXtensible Business Reporting Language):
+Added: Interactive data files pursuant to Rule 405 of SEC Regulation S-T in connection with the Company’s Form 10-Q for the quarterly period ended December 29, 2024, formatted in iXBRL (Inline eXtensible Business Reporting Language):
(i) Unaudited Condensed Consolidated Balance Sheets;
16 unchanged sentences
CROWN CRAFTS, INC.
−Removed: November 12, 2024
+Added: February 12, 2025
Vice President and Chief Financial Officer
1 unchanged sentence
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.