U.S. 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 1, 2014
 
Venture Lending & Leasing VI, Inc.
(Exact name of registrant as specified in its charter)
 
 
 
 
 
 
MARYLAND
 
814-00799
 
27-1682622
(State or other jurisdiction
of incorporation)
 
(Commission
File Number)
 
(I.R.S. Employer
Identification No.)
 
 
104 La Mesa Drive, Suite 102, Portola Valley, CA 94028
(Address of principal executive offices, zip code)
 
Registrant’s telephone number, including area code: (650) 234-4300

(Former name or former address, if changed since last report): N/A

 
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
 
¨
Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act
 
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
 
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.



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Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
On January 14, 2011, Venture Lending & Leasing VI, Inc. (the “Fund”) entered into agreements with Union Bank, N.A. that established a secured revolving loan facility (the “Loan Agreement”) in an initial amount of up to $40,000,000.  On May 26, 2011, the Fund increased the size of the amount available under the Loan Agreement to $60 million.  On September 23, 2011, the Fund entered into agreements with Union Bank, N.A., Wells Fargo Bank, N.A. and Bank Leumi USA (the “Lenders”) that amended and restated the Loan Agreement in its entirety, and increased the size of the facility to $160 million.  The Loan Agreement, as amended and restated on September 23, 2011, expired on September 23, 2014 and the Fund entered into agreements with the Lenders to extend the facility through September 30, 2014. On September 30, 2014, the Fund entered into agreements with the Lenders that amended and restated the Loan Agreement in its entirety, and (i) decreased the size of the facility to $120 million and (ii) secured an initial revolving 12-month repayment plan and a subsequent 18-month amortized repayment plan. Amounts borrowed under the Loan Agreement may be, at the option of the Fund, either Reference Rate loans (as defined in the Loan Agreement) or LIBOR loans. The Fund will pay interest on its borrowings and will also pay a fee on the unused portion of the facility. The facility will terminate on March 23, 2017, but can be accelerated under an event of default such as failure by the Fund to make timely interest or principal payments. As of September 30, 2014, approximately $113,850,000 was outstanding under the Loan Agreement.

    


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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 duly authorized.

VENTURE LENDING & LEASING VI, INC.
(Registrant)


By:    /s/ Maurice C. Werdegar
By:    /s/ Martin D. Eng
Maurice C. Werdegar
Martin D. Eng
President and Chief Executive Officer
Chief Financial Officer
 
 
Date: October 1, 2014
Date: October 1, 2014


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