FREQUENCY ELECTRONICS, INC. (NASDAQ:FEIM) Files An 8-K Termination of a Material Definitive AgreementItem 1.02. Termination of a Material Definitive Agreement.
FREQUENCY ELECTRONICS, INC. (NASDAQ:FEIM) Files An 8-K Termination of a Material Definitive Agreement
Frequency Electronics, Inc., a Delaware corporation (the “Company”), has voluntarily terminated the Credit Agreement, dated as of June 6, 2013, between the Company and JPMorgan Chase Bank, N.A., as amended by the Waiver and Amendment to Revolving Credit Facility, dated December 15, 2016 (together, the “Credit Agreement”) in order to save the fees and expenses associated with maintaining the facility. The termination was effective as of February 7, 2017, and, at the time of such termination, there were no borrowings outstanding under the Credit Agreement’s $25 million revolving credit facility. The Company did not incur an early termination fee as a result of the termination.
The material terms of the Credit Agreement and the Waiver and Amendment to Revolving Credit Facility were previously described in Current Reports on Form 8-K filed by the Company with the U.S. Securities and Exchange Commission on June 11, 2013 and December 12, 2016, respectively, which descriptions are incorporated herein by reference.
About FREQUENCY ELECTRONICS, INC. (NASDAQ:FEIM)
Frequency Electronics, Inc. (FEI) is principally engaged in the design, development and manufacture of precision time and frequency control products and components for microwave integrated circuit applications. The Company operates in three segments: FEI-NY, Gillam-FEI and FEI-Zyfer. The FEI-NY segment also includes the operations of the Company’s subsidiaries, Frequency Electronics, Inc. Asia (FEI-Asia) and FEI-Elcom Tech, Inc. (FEI-Elcom). It operates through several facilities located across the world, which is used for manufacturing its products and for administrative activities, which includes Long Island, New York; Garden Grove, California; Liege, Belgium; Tianjin, China, and Rockleigh, New Jersey. The Company’s services are employed in commercial, government, command, control, communication, computer, intelligence, security and reconnaissance (C4ISR) and other military electronic systems. Its technology is used for a range of terrestrial and space applications. FREQUENCY ELECTRONICS, INC. (NASDAQ:FEIM) Recent Trading Information
FREQUENCY ELECTRONICS, INC. (NASDAQ:FEIM) closed its last trading session up +0.02 at 11.35 with 0 shares trading hands.
Frequency Electronics, Inc. (FEI) is principally engaged in the design, development and manufacture of precision time and frequency control products and components for microwave integrated circuit applications. The Company operates in three segments: FEI-NY, Gillam-FEI and FEI-Zyfer. The FEI-NY segment also includes the operations of the Company’s subsidiaries, Frequency Electronics, Inc. Asia (FEI-Asia) and FEI-Elcom Tech, Inc. (FEI-Elcom). It operates through several facilities located across the world, which is used for manufacturing its products and for administrative activities, which includes Long Island, New York; Garden Grove, California; Liege, Belgium; Tianjin, China, and Rockleigh, New Jersey. The Company’s services are employed in commercial, government, command, control, communication, computer, intelligence, security and reconnaissance (C4ISR) and other military electronic systems. Its technology is used for a range of terrestrial and space applications. FREQUENCY ELECTRONICS, INC. (NASDAQ:FEIM) Recent Trading Information
FREQUENCY ELECTRONICS, INC. (NASDAQ:FEIM) closed its last trading session up +0.02 at 11.35 with 0 shares trading hands.
