PHARSIGHT CORP 8-K 2005
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): June 30, 2005
(Exact name of registrant as specified in its charter)
800 W. El Camino Real
Mountain View, CA 94040
(Address and zip code of principal executive offices)
(Registrants telephone number, including area code)
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:
On June 30, 2005, Pharsight Corporation (the Company) and Silicon Valley Bank entered into a Loan Modification Agreement (the Loan Modification), attached hereto as Exhibit 99.1, to the Amended and Restated Loan and Security Agreement effective as of May 24, 2004 by and between Silicon Valley Bank and Pharsight Corporation (the Loan and Security Agreement). The Loan Modification Agreement incorporates Section 2.1.4 to the Loan and Security Agreement to provide for an Equipment Advance to the Company through June 30, 2006, of up to $600,000, with a per annum interest rate of 1.25 percentage points above the Prime Rate. Each Equipment Advance shall immediately amortize and will be payable in 36 equal monthly installments of principal plus accrued interest. In addition, the Loan Modification amends in part Section 2.4 of the Loan and Security Agreement to provide that interest due on the Committed Revolving Line is payable on the 26th day of each month. Furthermore, the Loan Modification amends Section 13.1 of the Loan and Security Agreement to restate and incorporate several definitions, including but not limited to, changing the Revolving Maturity Date to May 26, 2006.
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.
Date: July 6, 2005