Attached files
| file | filename |
|---|---|
| EX-99.1 - PRESS RELEASE - DREAMS INC | dex991.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) July 7, 2011
DREAMS, INC.
(Exact name of registrant as specified in its charter)
| Utah | 001-33405 | 87-0368170 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) | ||
| 2 South University Drive, Plantation, Florida | 33324 | |||
| (Address of principal executive offices) | (Zip Code) | |||
Registrant’s telephone number, including area code: (954) 377-0002
Registrant’s facsimile number, including area code: (954) 475-8785
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):
| ¨ | 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 |
On July 7, 2011, Dreams, Inc. (the “Company”) and its subsidiaries (collectively the “Debtors”) have been approved for an immediate increase in the amount of their credit facility with Regions Bank from $20 million to $25 million, and, effective October 1, 2011, an additional increase to $27.5 million. In connection with the modification the interest rate under the facility has decreased from LIBOR plus 3.0% to LIBOR plus 2.5% per annum.
A copy of the press release announcing the closing of the facility is attached hereto as an Exhibit.
| ITEM 9.01 | Financial Statements and Exhibits |
(d) Exhibits
| 99.1 | Press Release dated July 11, 2011 |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Date: July 11, 2011 | DREAMS, INC. | |||
| By: | /s/ Ross Tannenbaum | |||
| Ross Tannenbaum | ||||
| Chief Executive Officer | ||||
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