MAD CATZ INTERACTIVE INC 8-K 2015
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 8, 2015
MAD CATZ INTERACTIVE, INC.
(Exact Name of Registrant as Specified in Charter)
10680 Treena Street, Suite 500
San Diego, California 92131
(Address of Principal Executive Offices)
(Registrants telephone number, including area code)
(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:
Item 1.01. Entry into a Material Definitive Agreement
On September 8, 2015, Mad Catz Interactive, Inc. (the Company) and its subsidiaries Mad Catz Inc. (MCI) and 1328158 Ontario Inc. (MCC), entered into a First Amendment (the Amendment) to that certain Loan and Security Agreement (the Loan Agreement) between the Company, MCI, MCC, the Lenders party thereto and NewStar Business Credit LLC (NSBC), dated June 30, 2015. The Amendment, which is effective September 1, 2015, provides for the following:
This Amendment was entered into to provide additional working capital to facilitate the launch of the Rock Band 4 video game in early October. The Amendment contains other conditions, including payment of a twenty thousand dollar ($20,000) amendment fee to NSBC, representations and warranties, and provisions that the Company believes are usual and customary for credit arrangements similar to those contemplated by the Amendment.
The foregoing description of the material terms of the Amendment is qualified in its entirety by reference to the full text of such Amendment, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits
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.