UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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): June 16, 2006
Citi Trends, Inc.
(Exact name of registrant as specified in its charter)
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Delaware |
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000-51315 |
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52-2150697 |
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(State or other
jurisdiction |
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(Commission File Number) |
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(IRS Employer |
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102 Fahm Street, Savannah, Georgia |
31401 |
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(Address of principal executive offices) |
(Zip Code) |
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Registrant’s telephone number, including area code: (912) 236-1561
Former name or former address, if changed since last report: Not applicable
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:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre- commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01. Entry into a Material Definitive Agreement.
On June 16, 2006, Citi Trends, Inc. (the “Company”), entered into a loan agreement (the “Loan Agreement”) with Bank of America, which provides an annual unsecured revolving line of credit that expires in June 2007. The line of credit provides for aggregate cash borrowings up to $3,000,000 to be used for working capital. Borrowings under the Loan Agreement bear interest at the London Interbank Offered Rate (“LIBOR”) plus 2.00%. The Loan Agreement, which is a renewal of a prior loan agreement, includes negative covenants and events of default that are usual for agreements of this type.
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SIGNATURE
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 thereunto duly authorized.
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CITI TRENDS, INC. |
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Date: June 22, 2006 |
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By: |
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/s/ Thomas W. Stoltz |
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Name: Thomas W. Stoltz |
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Title: Chief Financial Officer |
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