Aviza Technology, Inc. - Current report filing (8-K)
03 Outubro 2008 - 5:17PM
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):
September 30, 2008
AVIZA TECHNOLOGY, INC.
(Exact name of registrant as specified in charter)
Delaware
(State or other jurisdiction of
incorporation)
|
|
000-51642
(Commission
File Number)
|
|
20-1979646
(I.R.S. Employer
Identification Number)
|
440 Kings Village Road, Scotts Valley, CA 95066
(Address of principal executive offices) (Zip Code)
831-438-2100
(Registrants telephone number, including area code)
(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.
On September 30, 2008, we and our subsidiary,
Aviza, Inc., entered into the First Amendment (the First Amendment) to
the Loan and Security Agreement with United Commercial Bank, East West Bank and
Chinatrust Bank (U.S.A.), dated as of April 13, 2007. The First Amendment (i) reduces
the revolving facility amount from up to $44 million to up to $29 million that
is secured by amended amounts of accounts receivable, inventory and fixed
assets; (ii) increases the interest rate for the credit facility from
LIBOR plus 2.18% per annum to LIBOR plus 4.00% per annum; (iii) amends the
Debt to Tangible Net Worth Ratio (as defined in the loan and security
agreement) covenant from a monthly 4.00 to 1.00 maximum Debt to Tangible Net
Worth Ratio maintenance requirement to a quarterly 3.75 to 1.00 maximum Debt to
Tangible Net Worth Ratio maintenance requirement; and (iv) amends the
financial reporting covenants to require monthly financial statement reports
and monthly summary reports of outstanding purchase orders.
On October 1, 2008, we and our subsidiary,
Aviza, Inc., entered into the Second Amendment (the Second Amendment) to
the Loan and Security Agreement with United Commercial Bank, East West Bank and
Chinatrust Bank (U.S.A.), dated as of April 13, 2007 and as amended as of September 30,
2008. The Second Amendment extends the maturity date for the revolving facility
to October 13, 2009, provided, however, that if our net income, excluding stock-based
compensation, amortization expense, depreciation expense, net interest expense
and other noncash expenses, for the quarter ending December 31, 2008 is
less than $500,000, then the maturity date for the revolving facility will be April 13,
2009.
The foregoing descriptions do not purport to be
complete and are qualified in their entirety by reference to the text of the
amendments, copies of which are filed as Exhibit 10.1 and Exhibit 10.2
to this Current Report on Form 8-K.
Item
9.01.
Financial
Statements and Exhibits.
(d) Exhibits.
Exhibit
|
|
|
Number
|
|
|
10.1
|
|
First Amendment
to Loan and Security Agreement, by and among Aviza Technology, Inc.,
Aviza, Inc., United Commercial Bank, East West Bank and Chinatrust Bank
(U.S.A.), entered into as of September 30, 2008
.
|
|
|
|
10.2
|
|
Second Amendment
to Loan and Security Agreement, by and among Aviza Technology, Inc.,
Aviza, Inc., United Commercial Bank, East West Bank and Chinatrust Bank
(U.S.A.), entered into as of October 1, 2008
.
|
2
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 3,
2008
|
AVIZA
TECHNOLOGY, INC.
|
|
|
|
|
|
By:
|
/s/ Patrick C.
OConnor
|
|
|
Patrick C.
OConnor
|
|
|
Executive Vice
President and Chief Financial
Officer
|
3
EXHIBIT INDEX
Exhibit
|
|
|
Number
|
|
|
10.1
|
|
First Amendment
to Loan and Security Agreement, by and among Aviza Technology, Inc.,
Aviza, Inc., United Commercial Bank, East West Bank and Chinatrust Bank
(U.S.A.), entered into as of September 30, 2008
.
|
|
|
|
10.2
|
|
Second Amendment
to Loan and Security Agreement, by and among Aviza Technology, Inc.,
Aviza, Inc., United Commercial Bank, East West Bank and Chinatrust Bank
(U.S.A.), entered into as of October 1, 2008
.
|
4
Aviza Tech (MM) (NASDAQ:AVZA)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
Aviza Tech (MM) (NASDAQ:AVZA)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024