Image Entertainment 8-K 2007
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Image Entertainment, Inc.
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)
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
We entered into a three-year Loan and Security Agreement (the "Agreement") dated as of May 4, 2007, with Wachovia Capital Finance Corporation (Western) ("Wachovia"). The Agreement provides Image Entertainment, Inc. with an up to $15 million revolving line of credit, with an accordion feature to increase such amount to $20 million at our option, subject to the terms and conditions of the Agreement. Actual borrowing availability is based on eligible trade accounts receivable levels.
Unless otherwise required by law, we disclaim any obligation to publicly release any updates or any changes in our expectations or any change in events, conditions or circumstances on which any forward-looking statements contained in this report are based.
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.