CIBER, Inc. (NYSE:CBR) Files An 8-K Entry into a Material Definitive Agreement

CIBER, Inc. (NYSE:CBR) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.

On April 3, 2017, Ciber, Inc. (the “Company”) entered into Amendment No. 15 (“Amendment No. 15”) with Wells Fargo Bank NA, (“Wells Fargo”), the lender under the Company’s Asset Based Lending Facility, as amended from time to time (the “Credit Facility”). Amendment No. 15 limits borrowings under the Credit Facility to the lesser of 50% of the forecasted figure in the 13-week cash forecast required under the Credit Facility and $30.5 million (which limit was $37.0 million prior to Amendment No. 15). Amendment No. 15 also permits an overadvance under the Credit Facility of $12.3 million through and including April 5, 2017, which, prior to Amendment No. 15, was a permitted overadvance of $12.3 million through and including March 31, 2017. Capitalized terms used but not otherwise defined in this Current Report on Form 8-K shall have the meanings given them in Amendment No. 15, or the Credit Facility, as applicable. The foregoing description of Amendment No. 15 is qualified in its entirety by reference to Amendment No. 15, to be filed as an exhibit to the Company’s next Annual Report on Form 10-K.
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On April 3, 2017, the Company received a letter from the New York Stock Exchange (the “NYSE”) notifying the Company that because it had not timely filed its Annual Report for the year ended December 31, 2016 (the “2016 Form 10-K”) to Section 203.01 of the NYSE Listed Company Manual, the Company is subject to the late filing procedures as they pertain to annual reports, as set forth in Section 802.01E of the NYSE Listed Company Manual. On April 3, 2017, the Company notified the NYSE that the Company is working diligently to complete the 2016 Form 10-K.
The NYSE noted that it will closely monitor the status of the Company’s late filing and related public disclosures for up to a six month period from its due date. If the Company fails to file its 2016 Form 10-K within six months from the filing due date, the NYSE may, in its sole discretion, allow the Company’s securities to trade for up to an additional six months depending on specific circumstances, as outlined in the rule.

About CIBER, Inc. (NYSE:CBR)

Ciber, Inc. (Ciber) is a global information technology (IT) services company. The Company operates in two segments: North America and International. Its Ciber International segment primarily consists of countries in Western Europe and the Nordic region. Its North America segment is organized into service offerings, which include Independent Software Vendor Relationships (ISV)/Channel Partner Platforms, Managed Services, Business Consulting, Application Development and Management (ADM)/Staffing, and Software-as-a-Service (SaaS). It provides project management, application and technical consulting, and database administration for both implementation projects and managed-services engagements. It also provides a solution, Ciber Compliance Suite, which helps SAP customers monitor the usage of their SAP systems. Its business consulting offering helps clients manage their business by offering expertise in IT strategy, enterprise architecture and vertical business processes.

CIBER, Inc. (NYSE:CBR) Recent Trading Information

CIBER, Inc. (NYSE:CBR) closed its last trading session down -0.001 at 0.310 with 3,138,221 shares trading hands.

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