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):
(Exact name of registrant as specified in its charter)
| (State or Other Jurisdiction of Incorporation or Organization) |
(Commission File Number) |
(I.R.S. Employer Identification Number) |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code:
N/A
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered | ||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).
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 March 17, 2025, Heidrick & Struggles International, Inc. (the “Company”) and certain foreign and domestic subsidiaries of the Company (together with the Company, the “Loan Parties”) entered into a Third Amendment to Credit Agreement (the “Amendment”) with Bank of America, N.A., as administrative agent (the “Administrative Agent”) and the Lenders (as hereinafter defined) party thereto. The Amendment provides the terms under which the parties have amended that certain Credit Agreement entered into on October 26, 2018 among the Loan Parties party thereto, the Administrative Agent, with institutions from time to time party thereto as lenders (the “Lenders”) and the other parties party thereto (the “Original Credit Agreement”; the Original Credit Agreement, as amended by the First Amendment to Credit Agreement dated as of July 13, 2021 and the Second Amendment to Credit Agreement dated as of February 24, 2023, the “Credit Agreement”). The Amendment provides that Lenders will make available to the Borrowers a committed revolving credit facility in an aggregate amount of $100 million, which includes a sublimit of $25 million for letters of credit and a sublimit of $10 million for swingline loans, with a $75 million expansion feature (collectively, the “Facility”). The Facility matures on March 17, 2030, extended from July 13, 2026.
Borrowings under the Credit Agreement may be used for working capital, capital expenditures, permitted acquisitions, restricted payments and for other general corporate purposes of the Company and its subsidiaries. The obligations under the Credit Agreement are guaranteed by certain of the Company’s subsidiaries and from time to time may be secured by equity interests in certain of the Company’s subsidiaries.
| Item 2.03 | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
To the extent required by Item 2.03 of Form 8-K, the information contained Item 1.01 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 2.03.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit |
Description | |
| 104 | Cover Page Interactive Data File, formatted in Inline XBRL |
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.
| Heidrick & Struggles International, Inc. | ||||||
| (Registrant) | ||||||
| Date: March 18, 2025 |
|
/s/ Tracey Heaton | ||||
| Name: Tracey Heaton | ||||||
| Title: Chief Legal Officer & Corporate Secretary | ||||||
Document and Entity Information |
Mar. 17, 2025 |
|---|---|
| Cover [Abstract] | |
| Entity Registrant Name | HEIDRICK & STRUGGLES INTERNATIONAL INC |
| Amendment Flag | false |
| Entity Central Index Key | 0001066605 |
| Document Type | 8-K |
| Document Period End Date | Mar. 17, 2025 |
| Entity Incorporation State Country Code | DE |
| Entity File Number | 0-25837 |
| Entity Tax Identification Number | 36-2681268 |
| Entity Address, Address Line One | 233 South Wacker Drive |
| Entity Address, Address Line Two | Suite 4900 |
| Entity Address, City or Town | Chicago |
| Entity Address, State or Province | IL |
| Entity Address, Postal Zip Code | 60606-6303 |
| City Area Code | (312) |
| Local Phone Number | 496-1200 |
| Written Communications | false |
| Soliciting Material | false |
| Pre Commencement Tender Offer | false |
| Pre Commencement Issuer Tender Offer | false |
| Security 12b Title | Common Stock, $0.01 par value |
| Trading Symbol | HSII |
| Security Exchange Name | NASDAQ |
| Entity Emerging Growth Company | false |
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