false 0001758021 0001758021 2024-10-18 2024-10-18 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

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 18, 2024

 

Karat Packaging Inc.

(Exact name of registrant as specified in its charter)

 

Delaware   001-40336   83-2237832
(State or other jurisdiction
of incorporation)		   (Commission File Number)   (IRS Employer
Identification No.)

 

6185 Kimball Avenue, Chino, CA 91708

(Address of principal executive offices) (Zip Code)

 

(626) 965-8882

Registrant’s telephone number, including area code:

 

N/A

(Former name or former address, if changed since last report.)

 

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:

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)
   
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol   Name of each exchange on which registered
Common Stock, $0.001 par value per share   KRT   The Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b -2 of this chapter).

 

Emerging growth company ☒

 

If an emerging growth company, indicate by checkmark 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. ☐

 

 

 

 

 

 

Item 8.01 Other Events.

 

On October 18, 2024, Karat Packaging Inc. (the “Company”) discovered unauthorized third-party access to its information systems. Upon detecting the incident, the Company activated its cybersecurity response plan to investigate the scope of the incident and to contain the threat. The Company has also notified federal law enforcement.

 

The Company’s investigation of the incident remains ongoing. Based on the Company’s current knowledge of the facts and circumstances related to this incident, the Company believes that this incident is not material, and this incident has not disrupted the Company's business operations. Should any of the relevant facts and circumstances substantively change, the Company will reassess materiality considerations in accordance with Item 1.05 of Form 8-K.

 

Caution Concerning Forward-Looking Statements

 

This Current Report on Form 8-K contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties, including statements regarding our understanding of the event and its potential impacts. Several factors could cause outcomes to differ materially from our statements, including, but not limited to, the discovery of new information regarding the event and other risks and uncertainties included in our filings with the Securities and Exchange, particularly the risks discussed under the heading “Risk Factors” discussed under the caption “Item 1A. Risk Factors” in Part I of our most recent Annual Report on Form 10-K and any updates discussed under the caption “Item 1A. Risk Factors” in Part II of our Quarterly Reports on Form 10-Q. Accordingly, you should not rely on these forward-looking statements. All forward-looking statements are based on information currently available to us. Karat undertakes no obligation to update these statements for revisions or changes after the date of this Current Report on Form 8-K, except as required by law.

 

1

 

 

SIGNATURES

 

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.

 

Date: October 23, 2024 KARAT PACKAGING INC.
   
  By: /s/ Jian Guo
    Jian Guo
    Chief Financial Officer

 

 

2

 

 

v3.24.3
Cover
Oct. 18, 2024
Cover [Abstract]  
Document Type 8-K
Amendment Flag false
Document Period End Date Oct. 18, 2024
Entity File Number 001-40336
Entity Registrant Name Karat Packaging Inc.
Entity Central Index Key 0001758021
Entity Tax Identification Number 83-2237832
Entity Incorporation, State or Country Code DE
Entity Address, Address Line One 6185 Kimball Avenue
Entity Address, City or Town Chino
Entity Address, State or Province CA
Entity Address, Postal Zip Code 91708
City Area Code 626
Local Phone Number 965-8882
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, $0.001 par value per share
Trading Symbol KRT
Security Exchange Name NASDAQ
Entity Emerging Growth Company true
Elected Not To Use the Extended Transition Period false
Karat Packaging (NASDAQ:KRT)
Historical Stock Chart
From Nov 2024 to Dec 2024 Click Here for more Karat Packaging Charts.
Karat Packaging (NASDAQ:KRT)
Historical Stock Chart
From Dec 2023 to Dec 2024 Click Here for more Karat Packaging Charts.