Biglari Holdings Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation
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Restaurants
Consumer Discretionary
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): October 6, 2025
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Item 1.01. Entry into a Material Definitive Agreement
On September 30, 2025, Steak n Shake Inc., a subsidiary of Biglari Holdings, obtained a loan of $225,000,000. Proceeds from the loan were distributed to Biglari Holdings. The term of the loan is five years, with an interest rate fixed at 8.80% per annum, and the loan will be amortized at a rate of 3.0% per annum. The debt is an obligation of Steak n Shake. The above description of the loan agreement is a summary and is qualified in its entirety by reference to the terms of the loan agreement, which will be filed as an exhibit to Biglari Holdings’ quarterly report on Form 10-Q for the quarter ended September 30, 2025.
Also on September 30, 2025, Biglari Holdings terminated a line of credit of $75,000,000.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
| October 6, 2025 | BIGLARI HOLDINGS INC. | ||||||||||
| By: | /s/ Bruce Lewis | ||||||||||
| Name: | Bruce Lewis | ||||||||||
| Title: | Controller | ||||||||||