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EX-10.1 - POMEROY IT SOLUTIONS INCv163277_ex10-1.htm

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 16, 2009

POMEROY IT SOLUTIONS, INC.
(Exact name of registrant as specified in its charter)

Delaware
 
0-20022
 
31-1227808
(State or other jurisdiction
 
(Commission
 
(IRS Employer
of incorporation)
  
File Number)
  
Identification No.)

1020 Petersburg Road, Hebron, KY 41048
(Address of principal executive offices and Zip Code)

Registrant's telephone number, including area code (859) 586-0600

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))
 
 
 

 

Item 1.01 Entry Into A Material Definitive Agreement.

Information set forth under Item 2.03 of this Current Report on Form 8-K is 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.

On October 16, 2009, Pomeroy IT Solutions, Inc. (“Company”) and its wholly owned subsidiaries amended the Company’s credit facility with GE Commercial Distribution Finance Corporation  ("GECDF") by entering into Amendment No. 9 to Amended and Restated Credit Facilities Agreement dated as of June 25, 2004, as amended by Amendment No. 1 (with Waiver) to Amended and Restated Credit Facilities Agreement dated as of March 31, 2006, as amended by Amendment No. 2 (with Waiver) to Amended and Restated Credit Facilities Agreement dated as of April 13, 2006, as amended by Amendment No. 3 (with Waiver) to Amended and Restated Credit Facilities Agreement dated as of June 23, 2006, as amended by Amendment No. 4 to Amended and Restated Credit Facilities Agreement dated as of June 25, 2007, and as amended by Amendment No. 5 (with Waiver) to Amended and Restated Credit Facilities Agreement dated as of April 15, 2008, as amended by Amendment No. 6 to Amended and Restated Credit Facilities Agreement dated as of June 25, 2008, as amended by Amendment No. 7 to Amended and Restated Credit Facilities Agreement dated November 14, 2008, as amended by Amendment No. 8 to Amended and Restated Credit Facilities Agreement dates as of June 24, 2009, as further amended or modified from time to time (the "Loan Agreement").  The Amendment No. 9 is effective as of October 16, 2009.

The primary provision of Amendment No. 9 is to extend the Maturity Date for all Commitments from October 30, 2009 to January 4, 2010.

The foregoing summary is qualified in its entirety by reference to the text of the Amendment No. 9, which is filed as an exhibit and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

10.1 Amendment No. 9 to Amended and Restated Credit Facilities Agreement

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.

 
POMEROY IT SOLUTIONS, INC.
   
Date:   October 21, 2009
By:  /s/ Christopher C. Froman
 
Christopher C. Froman
President and Chief Executive Officer