Current Report Filing (8-k)
2020年5月7日 - 5:06AM
Edgar (US Regulatory)
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
May 3, 2020
Date of Report (Date of earliest event
reported)
EMCORE
CORPORATION
Exact Name of Registrant as Specified
in its Charter
New Jersey
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001-36632
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22-2746503
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State of Incorporation
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Commission File Number
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IRS Employer Identification Number
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2015 W. Chestnut Street, Alhambra,
CA 91803
Address of principal executive offices,
including zip code
(626) 293-3400
Registrant's 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:
¨ 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))
Securities registered pursuant
to Section 12(b) of the Act:
Title of Each Class
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Trading symbol(s)
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Name of Each Exchange on Which Registered
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Common stock, no par value
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EMKR
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The Nasdaq Stock Market LLC (Nasdaq Global Market)
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Indicate by check mark whether the registrant
is an emerging growth company as defined in 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. ¨
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Item 1.01
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Entry into a Material Definitive Agreement.
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On May 3, 2020, EMCORE Corporation (the “Company”)
entered into a Paycheck Protection Program Promissory Note and Agreement (the “Agreement”) evidencing an unsecured
$6,488,157 loan under the Paycheck Protection Program (the “PPP Loan”). The Paycheck Protection Program (or “PPP”)
was established under the recently congressionally-approved Coronavirus Aid, Relief, and Economic Security Act (the “CARES
Act”) and is administered by the U.S. Small Business Administration. The PPP Loan to the Company is being made through Wells
Fargo Bank, N.A., a national banking association and the Company’s existing lender.
The term of the PPP Loan is two years. Interest will accrue
on the outstanding principal balance of the PPP Loan at a fixed rate of 1.0%, which shall be deferred for the first six months
of the term of the PPP Loan. Monthly payments in the amount of $273,160 will be due and payable beginning in November 2020 and
continuing each month thereafter until maturity of the PPP Loan. The Company may prepay principal of the PPP Loan at any time in
any amount without penalty. The Agreement contains customary events of default relating to, among other things, payment defaults,
breach of representations and warranties, or provisions of the promissory note. The occurrence of an event of default may result
in the repayment of all amounts outstanding, collection of all amounts owing from the Company, and/or filing suit and obtaining
judgment against the Company.
Under the terms of the CARES Act, PPP Loan recipients can apply
for and be granted forgiveness for all or a portion of loans granted under the PPP. Such forgiveness will be determined, subject
to limitations, based on the use of loan proceeds for payroll costs and mortgage interest, rent or utility costs and the maintenance
of employee and compensation levels. No assurance is provided that the Company will obtain forgiveness of the PPP Loan in whole
or in part.
The foregoing descriptions of the Agreement do not purport to
be complete and are qualified in their entirety by reference to the full text of the Agreement attached to this Form 8-K as Exhibit
10.1 and incorporated herein by reference.
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Item 2.03
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Creation of a Direct Financial Obligation or an Obligation under an Off Balance Sheet Arrangement of the Registrant.
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The disclosure in Item 1.01 and Exhibit 10.1 of this report
are incorporated herein by reference.
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Item 9.01
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Financial Statements and Exhibits.
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(d) Exhibits
SIGNATURE
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.
Dated: May 6, 2020
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EMCORE CORPORATION
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By:
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/s/ Tom Minichiello
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Name:
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Tom Minichiello
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Title:
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Chief Financial Officer
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EMCORE (NASDAQ:EMKR)
過去 株価チャート
から 6 2024 まで 7 2024
EMCORE (NASDAQ:EMKR)
過去 株価チャート
から 7 2023 まで 7 2024