- Current report filing (8-K)
December 24 2008 - 6:03AM
Edgar (US Regulatory)
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) December 18,
2008
MIPS TECHNOLOGIES,
INC.
(Exact
Name of Registrant as Specified in its Charter)
Delaware
(State
or Other Jurisdiction of Incorporation or Organization)
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000-24487
(Commission
File Number)
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77-0322161
(IRS
Employer Identification No.)
|
1225 Charleston
Road
Mountain View,
CA 94043
(Address
of Principal Executive Offices, including zip code)
(650) 567-5000
(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 obligations of the registrant under any of the following
provisions (see General Instruction A.2. below):
[ ]
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))
Item
1.01. Entry into a Material Definitive Agreement.
In July
2008, MIPS Technologies, Inc. (“MIPS”) entered into a loan and security
agreement with Silicon Valley Bank (“SVB”), providing for a $15 million term
loan and a revolving credit facility in an amount up to $10
million. The loan and security agreement contains customary
affirmative and negative covenants, including financial covenants, and events of
default.
On
December 18, 2008, MIPS and SVB entered into an amendment of the loan and
security agreement to increase from $5.0 million to $13.5 million the amount
that MIPS may invest in its subsidiaries, subject to meeting certain ongoing
financial conditions. As a result of this amendment, MIPS expects to
have greater flexibility to move cash among itself and its worldwide
subsidiaries. Other than this change, the loan and security agreement
continues in force in accordance with its terms, and additional information
regarding the agreement may be found in MIPS’ Quarterly Report on Form 10-Q for
the quarter ended September 30, 2008.
Item
2.03. Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
The
disclosure set forth in Item 1.01 above is hereby incorporated by
reference.
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.
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MIPS TECHNOLOGIES,
INC.
(Registrant)
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Date: December
23, 2008
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By:
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/s/
STUART J. NICHOLS
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Name: Stuart J.
Nichols
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Title: Vice President,
General Counsel & Secretary
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