<SEC-DOCUMENT>0001157523-18-001838.txt : 20180817
<SEC-HEADER>0001157523-18-001838.hdr.sgml : 20180817
<ACCEPTANCE-DATETIME>20180817150023
ACCESSION NUMBER:		0001157523-18-001838
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20180813
ITEM INFORMATION:		Entry into a Material Definitive Agreement
FILED AS OF DATE:		20180817
DATE AS OF CHANGE:		20180817

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CULP INC
		CENTRAL INDEX KEY:			0000723603
		STANDARD INDUSTRIAL CLASSIFICATION:	BROADWOVEN FABRIC MILLS, COTTON [2211]
		IRS NUMBER:				561001967
		STATE OF INCORPORATION:			NC
		FISCAL YEAR END:			0429

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12597
		FILM NUMBER:		181025612

	BUSINESS ADDRESS:	
		STREET 1:		1823 EASTCHESTER DRIVE
		CITY:			HIGH POINT
		STATE:			NC
		ZIP:			27265
		BUSINESS PHONE:		3368895161

	MAIL ADDRESS:	
		STREET 1:		P O BOX 2686
		CITY:			HIGH POINT
		STATE:			NC
		ZIP:			27265
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51854349.htm
<DESCRIPTION>CULP, INC. 8-K
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      <font style="font-size: 12pt"><b>UNITED STATES</b></font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 12pt"><b>SECURITIES
      AND EXCHANGE COMMISSION</b></font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 12pt"><b>WASHINGTON,
      DC&#160;&#160;20549</b></font><br><br><font style="font-family: Times New Roman; font-size: 16pt"><b>FORM
      8-K</b></font><br><br><font style="font-family: Times New Roman; font-size: 12pt"><b>CURRENT
      REPORT PURSUANT</b></font><br><font style="font-family: Times New Roman; font-size: 12pt"><b>TO
      SECTION 13 OR 15(d) OF THE</b></font><br><font style="font-family: Times New Roman; font-size: 12pt"><b>SECURITIES
      EXCHANGE ACT OF 1934</b></font><br><br><u><font style="font-family: Times New Roman; font-size: 10pt">Date
      of Report (Date of earliest event reported)&#160;&#160;&#160;&#160;August 13, 2018</font></u><u><br></u><br><u><font style="font-family: Times New Roman; font-size: 18pt"><b>Culp,
      Inc.</b></font></u><br><font style="font-family: Times New Roman; font-size: 10pt">(Exact
      Name of Registrant as Specified in its Charter)</font><br><br><br>
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            North Carolina
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          <p style="margin-bottom: 0px; margin-top: 0px">
            1-12597
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          &#160;
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            56-1001967
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            (State or Other Jurisdiction
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            of Incorporation)
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            (Commission File Number)
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            &#160;
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        <td style="width: 5%">

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            (I.R.S. Employer
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            Identification No.)
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          <p style="margin-bottom: 0px; margin-top: 0px">
            1823 Eastchester Drive
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            High Point, North Carolina&#160;&#160;27265
          </p>
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        <td style="width: 33%">

        </td>
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        </td>
        <td style="text-align: center; padding-left: 0.0px; width: 34%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">(Address
            of Principal Executive Offices)</font>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">(Zip
            Code)</font>
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        </td>
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          &#160;
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        <td style="white-space: nowrap; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-width: 1.0pt; width: 50%; border-bottom-color: black; border-bottom-style: solid" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (336) 889-5161
          </p>
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        <td style="width: 25%">

        </td>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">(Registrant&#8217;s
            Telephone Number, Including Area Code)</font>
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        </td>
        <td style="width: 25%">

        </td>
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          &#160;
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            Not Applicable
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          <p style="margin-bottom: 0px; margin-top: 0px">
            (Former name or address, if changed from last report)
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        <td style="width: 22%">

        </td>
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    <p style="text-align: center">

    </p>
    <p style="text-indent: 30.0px">
      <font style="font-family: Times New Roman; font-size: 10pt">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:</font>
    </p>
    <p style="font-family: Times New Roman; font-size: 10pt; text-indent: 30.0px">
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p style="font-family: Times New Roman; font-size: 10pt; text-indent: 30.0px">
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p style="font-family: Times New Roman; font-size: 10pt; text-indent: 30.0px">
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p style="font-family: Times New Roman; font-size: 10pt; text-indent: 30.0px">
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <p style="text-align: justify">
      Indicate by check mark whether the registrant is an emerging growth
      company as defined in Rule 405 of the Securities Act of 1933 (&#194;
      &#167;240.12b-2 of this chapter).
    </p>
    <p>
      Emerging growth company &#160;&#160;<font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
    </p>
    <p>
      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. &#160;&#160;<font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
    </p>
    <div style="margin-left: 0pt; margin-bottom: 10pt; width: 100%; margin-right: 0pt; text-indent: 0pt">
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    </p>
    <p style="text-align: justify">
      <b>Item 1.01 &#8211; Entry into a Material Definitive Agreement</b>
    </p>
    <p style="text-align: justify">
      On August 13, 2018, Culp, Inc. (the Registrant) entered into a Fifth
      Amendment to Credit Agreement (Fifth Amendment), which amends the Credit
      Agreement between the Registrant and Wells Fargo Bank, National
      Association.&#160;&#160;The terms of the Fifth Amendment include provisions that
      reduce the amount of our line of credit under the Credit Agreement from
      $30 million to $25 million, reduce the amount of the Unencumbered Liquid
      Assets maintenance covenant from $20 million to $15 million, and set an
      expiration date of August 15, 2020.
    </p>
    <p>

    </p>
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        <div style="font-family: Times New Roman; font-size: 10pt; text-align: center">
          2
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        <div style="text-align: right">

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    </div>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt"><b>SIGNATURES</b></font>
    </p>
    <p style="text-align: left">
      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.
    </p>
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          &#160;
        </td>
        <td style="width: 44%">

        </td>
        <td style="text-align: left; padding-left: 0.0px" colspan="2" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            CULP, INC.
          </p>
        </td>
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        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="text-align: left; padding-left: 0.0px" colspan="2" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Registrant)
          </p>
        </td>
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        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td colspan="2">
          &#160;
        </td>
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        <td style="text-align: left; padding-left: 0.0px; width: 6%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 44%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 5%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            By:
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 45%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>/s/ Kenneth R. Bowling</u>
          </p>
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        <td style="width: 44%">

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        <td style="text-align: left; padding-left: 0.0px; width: 45%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Chief Financial Officer
          </p>
        </td>
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        </td>
        <td style="width: 44%">

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        <td style="width: 5%">

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          <p style="margin-bottom: 0px; margin-top: 0px">
            (principal financial officer)
          </p>
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        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">
          &#160;
        </td>
      </tr>
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        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">
          &#160;
        </td>
      </tr>
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        <td style="text-align: left; padding-left: 0.0px" colspan="2" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>Date: &#160;August 17, 2018</u>
          </p>
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      3
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