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EX-10.1 - EXHIBIT 10.1 - TECHPRECISION CORPtm2120896d1_ex10-1.htm

 

 

 

 UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities and Exchange Act of 1934

 

Date of Report (Date of earliest event reported): June 28, 2021

 

TECHPRECISION CORPORATION

(Exact Name of Registrant as Specified in Charter)

 

Delaware   000-51378   51-0539828

(State or Other Jurisdiction

of Incorporation or Organization)

  (Commission File Number)   (IRS Employer Identification No.)

1 Bella Drive

Westminster, MA 01473

(Address of principal executive offices) (Zip Code)

 

Registrant's telephone number, including area code: (978) 874-0591

  

Securities registered or to be registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
N/A   N/A   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 (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))

  

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

  

 

 

 

 

 

Item 1.01Entry into a Material Definitive Agreement.

 

As previously disclosed, on April 23, 2021, Stadco New Acquisition, LLC (“Acquisition Sub”), a wholly owned subsidiary of TechPrecision Corporation (the “Company”), Sunflower Bank, N.A. (“Sunflower Bank”), Stadco, Stadco Acquisition, LLC and Stadco Mexico, Inc. entered into an Amended and Restated Loan Purchase Agreement (the “Agreement”). On June 28, 2021, the parties to the Agreement entered into an Amendment to Amended and Restated Loan Purchase and Sale Agreement (the “Amendment”). The Amendment extends the outside date by which the parties thereto must consummate the transactions therein from fifteen (15) days following the anticipated closing date of June 15, 2021 to July 30, 2021.

 

There is no material relationship between Acquisition Sub or the Company, on the one hand, and Sunflower Bank, on the other hand, other than in respect of the Agreement. The description of the Amendment is qualified in its entirety by reference to the full text of the Amendment, a copy of which is attached hereto as Exhibit 10.1 and is incorporated by reference herein.

 

Item 9.01Financial Statements and Exhibits.

 

(d)Exhibits

 

Exhibit

Number

 

Description 

   
10.1 Amendment to Amended and Restated Loan Purchase and Sale Agreement, dated as of June 28, 2021, between Stadco New Acquisition, LLC, Stadco, Stadco Acquisition LLC and Stadco Mexico, Inc. and Sunflower Bank, N.A.

  

 

 

 

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.

  

  TECHPRECISION CORPORATION  
       
Date: June 29, 2021 By: /s/ Thomas Sammons  
  Name: Thomas Sammons  
  Title: Chief Financial Officer