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 29, 2015 (October 26, 2015)
InfoSonics Corporation
(Exact name of registrant as specified in its charter)
Maryland | 001-32217 | 33-0599368 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
3636 Nobel Drive, Suite #325,
San Diego, CA 92122
(Address of principal executive offices)
Registrants telephone number, including area code: (858) 373-1600
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 October 26, 2015, InfoSonics Corporation (the Company) entered into the Fourth Amendment to Loan and Security Agreement with Silicon Valley Bank (the Amendment). The Amendment modifies the original Loan and Security Agreement that was dated as of March 27, 2014, as amended (the Credit Facility). The primary purpose of the Amendment was to modify the definition of Tangible Net Worth to exclude the other comprehensive income/loss component of shareholders equity.
A copy of the Amendment is filed as Exhibit 10.18 to this Current Report on Form 8-K and 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. |
The disclosures required by this Item 2.03 are contained in Item 1.01 above, and are incorporated as if fully restated herein.
Item 9.01. | Financial Statements and Exhibits. |
(d) | Exhibits |
Exhibit |
Description | |
10.18 | Fourth Amendment to Loan and Security Agreement dated as of October 26, 2015 between Silicon Valley Bank and InfoSonics Corporation. |
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.
InfoSonics Corporation | ||||||
/s/ Vernon A. LoForti | ||||||
Vernon A. LoForti | ||||||
Date: | October 29, 2015 | Chief Financial Officer |