UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
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 18, 2007
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ESCALADE, INCORPORATED
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(Exact Name of Registrant as Specified in Its Charter)
Indiana
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(State or Other Jurisdiction of Incorporation)
0-6966 13-2739290
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(Commission File Number) (IRS Employer Identification No.)
817 Maxwell Avenue, Evansville, Indiana 47711
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(Address of Principal Executive Offices) (Zip Code)
(812) 467-4449
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(Registrant's Telephone Number, Including Area Code)
Not Applicable
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(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 (see General Instruction A.2. below):
[ ] 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))
Section 1 - Registrant's Business and Operations
Item 1.01 Entry into a Material Definitive Agreement
On May 18, 2007, the Company executed an amendment to the revolving term
agreement extending the maturity date of the credit facility to May 31, 2012 and
revising the current available borrowing limit to $30 million with annual
reductions of $5 million beginning May 31, 2008. All other terms and conditions
of the agreement were unchanged. As of May 18, 2007 the outstanding balance on
this line was $23.7 million.
Item 9.01 Financial Statements and Exhibits
(c) Exhibits
Exhibit Description
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10.1 Eighth Amendment to Amended and Restated Credit
Agreement effective October 24, 2001 by and
between Escalade, Incorporated and JPMorgan Chase
Bank, NA. The effective date of the Amendment was
May 17, 2007.
10.2 Promissory note between Escalade, Incorporated and
JPMorgan Chase Bank, NA dated May 17, 2007.
10.3 Promissory note between Escalade, Incorporated and
JPMorgan Chase Bank, NA dated May 17, 2007.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, Escalade,
Incorporated has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: May 21, 2007 ESCALADE, INCORPORATED
By: /s/ TERRY D. FRANDSEN
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Terry D. Frandsen,
Interim Chief Executive Officer,
Vice President and
Chief Financial Officer
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