8-KThe WireStrategic
Material Agreement · New Debt / Obligation
Filed Nov 1, 2010 · 15y ago · Accession 0001104659-10-054927
Plain English
Material event — a significant development the company must disclose promptly.
Read the source below for the full document.
Filing text
View original ↗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 26, 2010
ALLIED MOTION TECHNOLOGIES INC.
(Exact Name of Registrant as Specified in its Charter)
Colorado
0-04041
84-0518115
(State or Other Jurisdiction
(Commission File Number)
(IRS Employer
of Incorporation)
Identification No.)
23 Inverness Way East, Suite. 150, Englewood, CO, 80112
(Address of Principal Executive Offices, including zip code)
303-799-8520
(Registrants telephone number, including area code)
Not Applicable
(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
1.01. Entry
into a Material Definitive Agreement.
Effective
October 26, 2010, Allied Motion Technologies Inc. and its wholly-owned
subsidiary, Allied Motion Technologies B.V. (collectively, the Company),
entered into a Third Amendment (the Amendment) to the Credit Agreement dated May 7,
2007 with JPMorgan Chase Bank, N.A. and J.P. Morgan Europe Limited. The Amendment provides for a revolving credit
facility of up to $4.0 million and EUR 3.0 million maturing on October 26,
2012 with a one-year extension option available with the lenders consent.
The
Amendment reduces the interest rate on borrowings and the unused commitment
fees. The interest rate for borrowings
may be a combination of one or more interest rate indices plus a margin as
described below.
Index
Applicable Margin
Interest payments due
ALTERNATE
BASE RATE (1)
1.0
%
End of applicable interest period
LIBOR
2.0
%
End of applicable interest period
EURIBOR
2.0
%
End of applicable interest period
(1) The
greater of Prime Rate, the Federal Funds Effective Rate plus 0.5%, or LIBOR
plus 1%.
The
Amendment contains financial covenants related to consolidated leverage ratio,
consolidated fixed charge coverage ratio and minimum consolidated tangible net
worth. The Amendment also eliminated the
limitations on the Companys ability to make capital expenditures.
The
foregoing description is qualified in its entirety by reference to the
Amendment, a copy of which is filed as Exhibit 10 to this Form 8-K
and incorporated herein by reference.
Item
2.03. Creation
of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet
Arrangement of a Registrant.
See
Item 1.01 above.
Item 9.01 Financial
Statements and Exhibits
The following are filed as exhibits to this Current
Report on Form 8-K:
10 Third
Amendment to Credit Agreement dated as of October 26, 2010 among Allied
Motion Technologies Inc., Allied Motion Technologies B.V., JPMorgan Chase Bank,
N.A. and J.P. Morgan Europe Limited.
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: November 1, 2010
ALLIED
MOTION TECHNOLOGIES INC.
By:
/s/
Richard D. Smith
Richard
D. Smith
Executive
Chairman and Chief Financial Officer
2
Filing details
- Company
- ALLIENT INC
- Ticker
- ALNT
- CIK
- 46129
- Form type
- 8-K
- Filing date
- Nov 1, 2010
- Report date
- Oct 26, 2010
- Document
- a10-20301_18k.htm
- Size
- 170 KB