<SEC-DOCUMENT>0001157523-19-002301.txt : 20191122
<SEC-HEADER>0001157523-19-002301.hdr.sgml : 20191122
<ACCEPTANCE-DATETIME>20191122161533
ACCESSION NUMBER:		0001157523-19-002301
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20191122
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
FILED AS OF DATE:		20191122
DATE AS OF CHANGE:		20191122

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INGLES MARKETS INC
		CENTRAL INDEX KEY:			0000050493
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-GROCERY STORES [5411]
		IRS NUMBER:				560846267
		STATE OF INCORPORATION:			NC
		FISCAL YEAR END:			0928

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-14706
		FILM NUMBER:		191241776

	BUSINESS ADDRESS:	
		STREET 1:		PO BOX 6676
		CITY:			ASHEVILLE
		STATE:			NC
		ZIP:			28816
		BUSINESS PHONE:		828-669-2941

	MAIL ADDRESS:	
		STREET 1:		P O BOX 6676
		CITY:			ASHEVILLE
		STATE:			NC
		ZIP:			28816
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a52134439.htm
<DESCRIPTION>INGLES MARKETS, INCORPORATED 8-K
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Business Wire
         Document created using EDGARfilings PROfile 6.4.0.0
         Copyright 1995 - 2019 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 16pt; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 16pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-weight: bold;">Washington, D.C. 20549</div>
    <div style="text-align: center; font-weight: bold;"> <br>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 16pt; font-weight: bold;">FORM 8-K</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 16pt; font-weight: bold;"> <br>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">CURRENT REPORT</div>
    <div style="text-align: center; font-weight: bold;">Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934</div>
    <div style="text-align: center; font-weight: bold;"> <br>
    </div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" border="0" id="zb6d822abf5164ab2aa07b6ac820afdee" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

          <tr>
            <td style="width: 40%; padding-bottom: 2px;">
              <div>Date of Report (Date of earliest event reported) <br>
              </div>
            </td>
            <td style="width: 60%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;&#160;&#160;&#160; November 22, 2019<font style="text-indent: 0px; font-size: 5.03pt;">&#160;</font> <br>
              </div>
            </td>
          </tr>

      </table>
    </div>
    <div><font style="text-indent: 0px; font-size: 5.03pt;" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-size: 7.2pt;"><font style="text-indent: 0px;" id="TRGRRTFtoHTMLTab">&#160; <br>
        </font></font></div>
    <div><font style="font-size: 7.2pt;"><font style="text-indent: 0px;" id="TRGRRTFtoHTMLTab"> <br>
        </font></font></div>
    <font style="text-indent: 0px;" id="TRGRRTFtoHTMLTab"> <br>
    </font>
    <div>
      <table cellspacing="0" cellpadding="0" border="0" id="z154699f22d5d4facb273f04a0ff95503" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

          <tr>
            <td style="width: 100%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;"><font style="font-size: 16pt; font-family: 'Times New Roman',Times,serif;">INGLES MARKETS, INCORPORATED</font> <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 100.00%;">
              <div style="text-align: center;">(Exact name of registrant as specified in its charter) <br>
              </div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <br>
    <div>
      <table cellspacing="0" cellpadding="0" border="0" id="z80b297578b5c4894ab51a34ba2da69ff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

          <tr>
            <td style="width: 33.33%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;"><font style="font-family: 'Times New Roman',Times,serif;">North Carolina</font><font style="text-indent: 0px; font-size: 5.02pt;">&#160;&#160;</font> <br>
              </div>
            </td>
            <td style="width: 33.33%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;"><font style="font-family: 'Times New Roman',Times,serif;">0-14706</font> <br>
              </div>
            </td>
            <td style="width: 33.33%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;"><font style="font-family: 'Times New Roman',Times,serif;">56-0846267</font> <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 33.33%;">
              <div style="text-align: center;">(State or other jurisdiction&#160;&#160; <br>
              </div>
            </td>
            <td style="width: 33.33%;">
              <div style="text-align: center;">(Commission <br>
              </div>
            </td>
            <td style="width: 33.33%;">
              <div style="text-align: center;">(IRS Employer <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 33.33%;">
              <div style="text-align: center;">of incorporation) <br>
              </div>
            </td>
            <td style="width: 33.33%;">
              <div style="text-align: center;">File Number)&#160; <br>
              </div>
            </td>
            <td style="width: 33.33%;">
              <div style="text-align: center;">Identification No.) <br>
              </div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" border="0" id="zfa1cca2726884672ad78e37b0cf862f0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

          <tr>
            <td style="width: 80%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>P.O. Box 6676, Asheville, NC <br>
              </div>
            </td>
            <td style="width: 20%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;"><font style="font-family: 'Times New Roman',Times,serif;">28816</font> <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 80%;">
              <div>(Address of principal executive offices)<font style="text-indent: 0px; font-size: 5.03pt;">&#160;&#160;&#160;</font> <br>
              </div>
            </td>
            <td style="width: 20%;">
              <div style="text-align: center;"><font style="font-family: 'Times New Roman',Times,serif;">(Zip Code)</font> <br>
              </div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <br>
    <div>
      <table cellspacing="0" cellpadding="0" border="0" id="zb2fd975533e94845947f002b85b2669c" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

          <tr>
            <td style="width: 40%; padding-bottom: 2px;">
              <div>Registrant&#8217;s telephone number, including area code <br>
              </div>
            </td>
            <td style="width: 60%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;(828) 669-2941<font style="text-indent: 0px; font-size: 5.03pt;">&#160;</font> <br>
              </div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <br>
    <div style="font-family: 'Times New Roman',Times,serif;">
      <table cellspacing="0" cellpadding="0" border="0" id="zbdc32507547c4d2381f574b2392cbcba" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

          <tr>
            <td style="width: 100%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;"><font style="font-family: 'Times New Roman',Times,serif;">N/A</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 100.00%;">
              <div style="text-align: center;">(Former name or former address, if changed since last report.) <br>
              </div>
            </td>
          </tr>

      </table>
    </div>
    <br>
    <div><br>
    </div>
    <div>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:</div>
    <div><br>
    </div>
    <div>&#9744; Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
    <div><br>
    </div>
    <div>&#9744; Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
    <div> <br>
    </div>
    <div>&#9744; Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
    <div><br>
    </div>
    <div>&#9744; Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
    <div><br>
    </div>
    <div>Securities registered pursuant to Section 12(b) of the Act:</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z71679368f18142f79704a2f81afbe006">

        <tr>
          <td style="width: 28.68%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">Title of each class</div>
          </td>
          <td style="width: 29.78%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">Trading Symbol(s)</div>
          </td>
          <td style="width: 41.54%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
            <div style="text-align: center;">Name of each exchange on which registered</div>
          </td>
        </tr>
        <tr>
          <td style="width: 28.68%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">Class A Common Stock, $0.05 </div>
            <div style="text-align: center;">par value per share</div>
          </td>
          <td style="width: 29.78%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">IMKTA</div>
          </td>
          <td style="width: 41.54%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">The NASDAQ Global Select Market</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z6b5879c407704ef5a663e8e7d97465d5">

        <tr>
          <td style="width: 96.34%; vertical-align: top;">
            <div>Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</div>
            <div> <br>
            </div>
          </td>
          <td style="width: 3.66%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 96.34%; vertical-align: top;">
            <div style="text-align: right;">Emerging growth company</div>
          </td>
          <td style="width: 3.66%; vertical-align: top;">
            <div style="text-align: center;">&#9744;</div>
            <div style="text-align: center;"> <br>
            </div>
          </td>
        </tr>
        <tr>
          <td style="width: 96.34%; vertical-align: top;">
            <div>If&#160;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.</div>
          </td>
          <td style="width: 3.66%; vertical-align: top;">
            <div style="text-align: center;">&#9744;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="font-weight: bold;">Item 2.03. Creation of a Direct Financial Obligation under an Off-Balance Sheet Arrangement of a Registrant.</div>
    <div><br>
    </div>
    <div>On November 22, 2019, the Company closed a $155 million ten-year amortizing real estate loan (the &#8220;Loan&#8221;) and issued notice to redeem a like principal amount of 5.75% senior notes due in 2023 (the &#8220;Notes&#8221;).&#160; The Loan will be funded and the Notes
      will be redeemed thirty days after the redemption notice on December 23, 2019.&#160; The Notes will be redeemed at 101.917% of par value, and the Company will recognize debt extinguishment costs of approximately $3.0 million during the quarter ending
      December 28, 2019.</div>
    <div><br>
    </div>
    <div>The Loan matures January 31, 2030 and has monthly principal payments of $0.65 million plus floating rate interest based on LIBOR.&#160; The Company entered into a notional amount $155 million interest rate swap contract to convert the variable rate on
      the Loan to a fixed interest rate of 2.92%.&#160; The notional amount of the swap declines each month by $0.65 million consistent with the required principal payments of the loan.</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;"><u>SIGNATURES</u></div>
    <div><br>
    </div>
    <div>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.</div>
    <div> <br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: separate; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">

          <tr>
            <td valign="top" rowspan="1" style="width: 50%; padding-bottom: 2px;">&#160;</td>
            <td valign="top" rowspan="1" style="width: 3%; padding-bottom: 2px;">&#160;</td>
            <td valign="top" rowspan="1" style="width: 35%; text-align: center; border-bottom: 2px solid rgb(0, 0, 0);"><font style="font-family: 'Times New Roman',Times,serif;">INGLES MARKETS, INCORPORATED</font><font style="text-indent: 0px; font-size: 5.06pt;">&#160;</font> <br>
            </td>
            <td valign="top" rowspan="1" style="width: 12%; padding-bottom: 2px;">&#160;</td>
          </tr>
          <tr>
            <td valign="top" rowspan="1" style="width: 50%;">&#160;</td>
            <td valign="top" rowspan="1" style="width: 3%;">&#160;</td>
            <td valign="top" rowspan="1" style="width: 35%; text-align: center;">(Registrant) <br>
            </td>
            <td valign="top" rowspan="1" style="width: 12%;">&#160;</td>
          </tr>
          <tr>
            <td valign="top" rowspan="1" style="width: 50%;">&#160;</td>
            <td valign="top" rowspan="1" style="width: 3%;">&#160;</td>
            <td valign="top" rowspan="1" style="width: 35%;">&#160;</td>
            <td valign="top" rowspan="1" style="width: 12%;">&#160;</td>
          </tr>
          <tr>
            <td valign="top" style="width: 50%;">Date:&#160; November 22, 2019 <br>
            </td>
            <td valign="top" style="width: 3%;">&#160;</td>
            <td valign="top" style="width: 35%;">&#160;</td>
            <td valign="top" style="width: 12%;">&#160;</td>
          </tr>
          <tr>
            <td valign="top" align="left" style="width: 50%; padding-bottom: 2px;"><br>
            </td>
            <td valign="top" style="width: 3%; padding-bottom: 2px;">
              <div align="left" style="margin-left: 0pt; text-indent: 0pt; margin-right: 0pt;">By: </div>
            </td>
            <td valign="top" align="left" style="width: 35%; border-bottom: #000000 2px solid;">/s/ Ronald B. Freeman</td>
            <td valign="top" style="width: 12%; padding-bottom: 2px;">&#160;</td>
          </tr>
          <tr>
            <td valign="top" style="width: 50%;">&#160;</td>
            <td valign="top" style="width: 3%;">&#160;</td>
            <td valign="bottom" align="left" style="width: 35%;">Ronald B. Freeman</td>
            <td valign="top" style="width: 12%;">&#160;</td>
          </tr>
          <tr>
            <td valign="top" style="width: 50%;">&#160;</td>
            <td valign="top" style="width: 3%;">&#160;</td>
            <td valign="top" style="width: 35%;">Chief Financial Officer<font style="text-indent: 0px; font-size: 5.04pt;">&#160;&#160;&#160;&#160; <br>
              </font></td>
            <td valign="top" style="width: 12%;">&#160;</td>
          </tr>
          <tr>
            <td valign="top" style="width: 50%;">&#160;</td>
            <td valign="top" style="width: 3%;">&#160;</td>
            <td valign="top" style="width: 35%;">&#160;</td>
            <td valign="top" style="width: 12%;">&#160;</td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <font style="text-indent: 0px; font-size: 5.04pt;" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
    </font>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
