Attached files
| file | filename |
|---|---|
| EX-10.1 - AMENDMENT NO. 1 TO LOAN AND SECURITY AGREEMENT, DATED AS OF MARCH 14, 2012 - DAEGIS INC. | exhibit10-1.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):
March 16, 2012
Daegis Inc.
(Exact name of registrant as specified in its charter)
| Delaware | 001-11807 | 94-2710559 |
| (State or other jurisdiction | (Commission File No.) | (I.R.S. Employer |
| of incorporation) | Identification No.) |
1420 Rocky Ridge Drive
Roseville,
California 95661
(Address of principal executive
offices)
Registrant’s telephone number, including area
code:
(916) 865-3300
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 March 14, 2012, Daegis Inc. (the “Company” or “Daegis”) entered into an Amendment No. 1 to its Loan and Security Agreement dated as of June 30, 2011 by and among the Company, the Guarantors thereto, and Wells Fargo Capital Finance, LLC. Amendment No. 1 increased the minimum LIBOR used in the interest rate for Term Note A and the revolving line by 0.25%, modified certain financial covenants and set a minimum excess cash payment floor of $1.7 million for the fiscal year ending April 30, 2012.
The foregoing is intended only to be a summary of Amendment No. 1 and is qualified in its entirety by reference to Amendment No. 1 which is filed as Exhibit 10.1 hereto.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
(a) The disclosure in Item 1.01 hereof is incorporated by reference into this Item 2.03 in its entirety.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit | ||
| Number | Description | |
| 10.1 | Amendment No. 1 to Loan and Security Agreement, dated as of March 14, 2012. |
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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: March 16, 2012
| By: | /s/ Steven Bonham |
| Steven Bonham | |
| Vice President and CFO | |
| (Principal Financial and Accounting Officer) | |
3
| Exhibit | ||
| Number | Description | |
| 10.1 | Amendment No. 1 to Loan and Security Agreement, dated as of March 14, 2012. |
4