UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of
Earliest Event Reported): May 7, 2021
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Item 1.01 | Entry into a Material Definitive Agreement. |
On May 4, 2021, DMC Global Inc., a Delaware corporation (the “Company”), in connection with a registered public offering of its common stock (the “Offering”), entered into an underwriting agreement (the “Underwriting Agreement”) with KeyBanc Capital Markets Inc., as representative of the underwriters named therein (collectively, the “Underwriters”), pursuant to which the Company agreed to sell 2,500,000 shares of its common stock to the Underwriters. In addition, pursuant to the Underwriting Agreement, the Underwriters were granted an option, exercisable within 30 days, to purchase up to an additional 375,000 shares of common stock to cover over-allotments, if any, on the same terms and conditions. The option was exercised in full on May 5, 2021. Net proceeds from the offering, including the additional shares, were approximately $123.5 million after deducting estimated fees and expenses. The Underwriting Agreement contains customary representations, warranties and agreements by the Company and customary conditions to closing, obligations of the parties and termination provisions. Additionally, the Company has agreed to indemnify the Underwriters against certain liabilities, including liabilities under the Securities Act of 1933, as amended, or to contribute to payments the Underwriters may be required to make due to any such liabilities. The Offering was completed on May 7, 2021.
The foregoing description of the Underwriting Agreement is not complete and is qualified in its entirety by the full text of the Underwriting Agreement, which is filed as Exhibit 1.1 to this Current Report on Form 8-K and incorporated herein by reference. The legal opinion of Davis Graham & Stubbs LLP relating to the legality of the shares of common stock sold in the Offering is filed as Exhibit 5.1 to this Current Report on Form 8-K.
The representations, warranties and covenants contained in the Underwriting Agreement were made solely for purposes of the agreement and as of specific dates, were solely for the benefit of the parties to the agreement, may be subject to limitations agreed upon by the contracting parties, and may be subject to standards of materiality applicable to the contracting parties that differ from those applicable to security holders. Security holders are not third-party beneficiaries under the agreement and should not rely on the representations, warranties and covenants or any descriptions thereof as characterizations of the actual state of facts or condition of the Company. Moreover, information concerning the subject matter of the representations and warranties may change after the date of the agreement, which subsequent information may or may not be fully reflected in the Company’s public disclosures.
Item 9.01 Financial Statements and Exhibits
Exhibit No. |
Description | |
1.1 | Underwriting Agreement, by and between DMC Global Inc. and KeyBanc Capital Markets Inc., dated as of May 4, 2020 | |
5.1 | Opinion of Davis Graham & Stubbs LLP | |
23.1 | Consent of Davis Graham & Stubbs LLP (included in Exhibit 5.1) | |
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.
DMC GLOBAL INC. | ||
Dated: May 7, 2021 | By: | /s/ Michael Kuta |
Michael Kuta | ||
Chief Financial Officer |