UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 1.02. | Termination of a Material Definitive Agreement. |
On June 1, 2021, Intrepid Potash, Inc. (the “Company”) repaid in full its outstanding Series B Senior Notes due April 14, 2023 (the “Senior Notes”) and satisfied all obligations under the Amended and Restated Note Purchase Agreement, dated as of October 31, 2016, by and among the Company and each of the purchasers named therein (as amended, the “Note Purchase Agreement”). In connection with this repayment, the Company paid in aggregate approximately $15.6 million, which consisted of (i) $15.0 million of remaining aggregate principal amount of Senior Notes, (ii) approximately $0.1 million of accrued and unpaid interest and (iii) a “make-whole” premium of approximately $0.5 million. As a result of the repayment, the Note Purchase Agreement was terminated.
| Item 7.01. | Regulation FD Disclosure. |
On June 2, 2021, the Company issued a press release announcing the payoff of the Senior Notes. A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1.
| Item 9.01. | Financial Statements and Exhibits. |
| Exhibit No. | Description | |
| 99.1 | Press Release of Intrepid Potash, Inc. dated June 2, 2021. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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.
| INTREPID POTASH, INC. | ||
| Dated: June 4, 2021 | By: | /s/ Matthew D. Preston |
| Matthew D. Preston | ||
| Vice President of Finance | ||