HAVERTY FURNITURE COMPANIES INC : Entry into a Material Definitive Agreement, Termination of a Material Definitive Agreement, Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K)

Item 1.01 Entry into a Material Definitive Agreement.

On March 31, 2023, Haverty Furniture Companies, Inc. ("Havertys" or the "Company") entered into an agreement to purchase (the "Purchase") a distribution facility located at 7100 Havertys Way, Lakeland, Florida (the "Facility"), pursuant to that certain Purchase and Sale Agreement (the "Purchase Agreement"), by and between HF Lakeland FL Landlord, LLC (the "Landlord") and the Company. The Company previously owned the Facility prior to selling it to the Landlord in May 2020 in a sale leaseback transaction.

The purchase price of the Facility, excluding costs and taxes, is $28.2 million. The Company expects the closing of the Purchase to occur on or before May 15, 2023, subject to the satisfaction of customary closing conditions. In connection with the closing of the Purchase, the Company and the Landlord will terminate that certain Lease Agreement, dated as of May 19, 2020, by and between the Company and the Landlord (incorporated by reference to Exhibit 10.4 to the Company's Current Report on Form 8-K dated as of May 20, 2020).

The foregoing description of the Purchase Agreement does not comport to be complete and is qualified in its entirety by reference to the Purchase Agreement, filed as Exhibit 10.1 to this Current Report on Form 8-K, which is incorporated herein by reference.

Item 1.02 Termination of a Material Definitive Agreement.

The information set forth above under Item 1.01 is incorporated herein by reference into this Item 1.02.

Item 7.01 Regulation FD Disclosure.

The Company reported in its Annual Report on Form 10-K for the year ended December 31, 2022 that its expected capital expenditures for the 2023 year were approximately $27.6 million. Given the anticipated closing of the Purchase discussed in Item 1.01, the Company expects its current planned capital expenditures for 2023 to increase to approximately $56.0 million, inclusive of the Purchase.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits. The following exhibits are furnished as part of this Report:

10.1 Purchase Agreement, dated as of March 31, 2023, by and between HF Lakeland FL Landlord, LLC and Haverty Furniture Companies, Inc.

© Edgar Online, source Glimpses