GTIM Files Third Credit Agreement Amendment with Cadence Bank
Rhea-AI Filing Summary
Good Times Restaurants Inc. disclosed a material amendment to its credit facilities. The filing lists a Third Amendment to Credit Agreement dated September 30, 2025 among Good Times Restaurants Inc., its wholly owned subsidiaries and Cadence Bank, N.A. The 8-K references reportable items for entry into a material definitive agreement, creation of a direct financial obligation or off‑balance sheet arrangement, and exhibits. No loan amounts, covenant changes, or financial terms are included in the excerpt provided.
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- Filed a Third Amendment to the Credit Agreement dated September 30, 2025 with Cadence Bank, N.A.
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- None.
Insights
Company amended its credit agreement with Cadence Bank on September 30, 2025.
The filing records a Third Amendment to Credit Agreement executed among Good Times Restaurants Inc., its wholly owned subsidiaries and Cadence Bank, N.A. This indicates a change to the company’s borrowing arrangements or related covenants, although the excerpt does not disclose any monetary amounts, covenant language, maturity changes, or covenant waivers.
The primary near‑term item to confirm from the full filing or attached exhibit is the September 30, 2025 amendment text showing any borrowings, covenant modifications, fees, or repayment schedule changes; those specifics determine investor impact and timing for any balance‑sheet effects.
8-K Event Classification
FAQ
What did Good Times Restaurants Inc. (GTIM) disclose in this 8-K?
Does the excerpt state the amendment's monetary terms or covenant changes for GTIM?
Which reportable items does the 8-K reference for GTIM?
Who signed or certified the filing for Good Times (GTIM)?
Where can investors find the amendment details mentioned for GTIM?
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| 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 |
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| Item 1.01 | Entry Into a Material Definitive Agreement. |
On September 30, 2025, Good Times Restaurants Inc. (the “Company”) and each of its wholly owned subsidiaries, as guarantors, entered into a Third Amendment to Credit Agreement and Consent (the “Amendment”) with respect to the Company’s Amended and Restated Credit Agreement with Cadence Bank (“Cadence”), as Administrative Agent and Lender, entered into on April 20, 2023, as amended on May 22, 2024 and May 30, 2024 (collectively, the “Credit Agreement”).
The Amendment provides for Cadence’s consent to the closure of two Bad Daddy’s restaurants located in Roswell, Georgia and Broomfield, Colorado and the termination of leases related thereto (the “Restaurant Closures”). In connection with the Restaurant Closures, the Amendment, among other things, amends the Credit Agreement to amend the definitions of “Applicable Rate”, “Consolidated EBITDA,” “Consolidated Fixed Charge Coverage Ratio”, and amends the Consolidated Leverage Ratio covenant contained in Section 7.11(a) of the Credit Agreement and the Restricted Payments covenant contained in Section 7.06 of the Credit Agreement.
The foregoing description of the Amendment is qualified in its entirety by reference to the full text of the Amendment, a copy of which is filed as Exhibit 10.1 to this current report on Form 8-K and is incorporated by reference herein.
| Item 2.03. | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information contained in Item 1.01 regarding the Amendment is incorporated by reference herein.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits. The following exhibits are filed as part of this report.
| Exhibit Number | Description | |
| 10.1 | Third Amendment to Credit Agreement dated September 30, 2025 by and among Good Times Restaurants Inc., each of its wholly owned subsidiaries and Cadence Bank, N.A. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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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.
| GOOD TIMES RESTAURANTS INC. | |||
| Date: | October 3, 2025 | By: |  |
| Ryan M. Zink | |||
| Chief Executive Officer | |||
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