- Current report filing (8-K)
November 09 2010 - 3:55PM
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):
November 8, 2010
WEGENER
CORPORATION
(Exact
name of registrant as specified in its charter)
Delaware
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0-11003
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81-0371341
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(State
or other jurisdiction of incorporation)
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(Commission
file number)
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(I.R.S.
Employer Identification No.)
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11350 Technology Circle,
Johns Creek, Georgia 30097
(Address
of principal executive offices, including zip code)
(770)
623-0096
(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 (see General Instruction A.2. below):
o
Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
8.01
Other
Events.
Fifteenth Amendment to
revolving line of credit and term
loan facility
On
October 8, 2009, Wegener Communications, Inc., a Georgia corporation (the
“Company”), and The David E. Chymiak Trust Dated December 15, 1999 (the
“Trust”) entered into a Twelfth Amendment (the “Twelfth Amendment”),
to a certain Loan and Security Agreement dated June 5, 1996 (the "Security
Agreement"). Among other things, the Twelfth Amendment added certain substantive
changes to the Security Agreement including, but not limited to, a requirement
that the Company be in compliance with a solvency representation provision on
the last day of our fiscal 2010 third quarter ended May 28, 2010. On
June 11, 2010, the Company and the Trust entered into a Thirteenth Amendment to
the Security Agreement which changed the date of compliance for the solvency
representation to the last day of our fiscal 2010 fourth quarter ending on
September 3, 2010.
On
November 8, 2010, the Company and the Trust entered into a Fifteenth Amendment
(the “Amendment”) to the Security Agreement. The Amendment further extended the
date of compliance for the solvency representation from the last day of our
fiscal 2010 fourth quarter ending on September 3, 2010, to the last day of our
fiscal 2011 second quarter ending on March 4, 2011.
Item
9.01
Financial
Statements and Exhibits
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4.1
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Loan
and Security Agreement – Fifteenth Amendment dated November 8,
2010, by and between Wegener Communications, Inc. and The David
E. Chymiak Trust Dated December 15, 1999, as assignee of the Bank of
America, N.A., successor interest by merger to LaSalle Bank National
Association, respecting $4,250,000 Loan and Security
Agreement.
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SIGNATURES
Pursuant
to the requirements of the Securities and Exchange Act of 1934, as amended, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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Wegener
Corporation
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Date: November
9, 2010
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By:
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/s/ C.
Troy Woodbury, Jr.
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C.
Troy Woodbury, Jr.
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Chief
Executive Officer
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Exhibit
Index
Exhibit
Number
4.1
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Loan
and Security Agreement – Fifteenth Amendment dated November 8,
2010, by and between Wegener Communications, Inc. and The David
E. Chymiak Trust Dated December 15, 1999, as assignee of the Bank of
America, N.A., successor interest by merger to LaSalle Bank National
Association, respecting $4,250,000 Loan and Security
Agreement.
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