OPTICAL CABLE CORPORATION (NASDAQ:OCC) Files An 8-K Entry into a Material Definitive Agreement
Item1.01 Entry into a Material Definitive Agreement
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Item9.01 Financial Statements and Exhibits |
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Exhibits |
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Item1.01 Entry into a Definitive
Agreement
On April 27, 2017, Optical Cable Corporation (the Company) and
Bank of North Carolina (the Bank) entered into a Third Loan
Modification Agreement (the Agreement) to modify the Credit
Agreement dated April 26, 2016 entered into between the Company
and the Bank (the Credit Agreement) and the associated Term Loan
A Note and Term Loan B Note, both dated April 26, 2016 (the
Notes). The Credit Agreement, Notes and ancillary documents are
defined as the Loan.
The primary purpose of the Agreement was to (i) revise the
interest rates of Term Loan A and Term Loan B and the applicable
repayment installments, and (ii) extend the maturity date of Term
Loan A and Term Loan B. The fixed interest rate of each of the
two term loans was revised to 3.95% from 3.75%, and the maturity
date of the loans was extended to May 2024.
Term Loan A and Term Loan B are generally secured by the land and
buildings at the Companys headquarters and manufacturing
facilities located in Roanoke, Virginia and its manufacturing and
office facilities located near Asheville, North Carolina and the
Companys personal property and assets.
All other terms of the Loan remain unaltered and remain in full
force and effect.
The Agreement with Bank of North Carolina is attached hereto as
Exhibit 4.1 and is incorporated herein by reference.
Item9.01. Financial Statements and Exhibits.
(c) Exhibits
The following is filed as an Exhibit to this Report.
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ExhibitNo. |
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Description of Exhibit |
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4.1 |
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Third Loan Modification Agreement dated April 27, 2017 |
About OPTICAL CABLE CORPORATION (NASDAQ:OCC)
Optical Cable Corporation (OCC) is a manufacturer of a range of fiber optic and copper data communication cabling and connectivity solutions primarily for the enterprise market, and various harsh environment and specialty markets. The Company’s product offerings include designs for uses ranging from enterprise networks, datacenters, residential and campus installations to customized products for specialty applications and harsh environments. OCC products include fiber optic and copper cabling, fiber optic and copper connectors, specialty fiber optic and copper connectors, fiber optic and copper patch cords, pre-terminated fiber optic and copper cable assemblies, racks, cabinets, datacom enclosures, patch panels, face plates, multi-media boxes, fiber optic reels and accessories, and other cable and connectivity management accessories. It markets and sells its harsh environment and specialty connectivity product offering under the names Optical Cable Corporation and OCC. OPTICAL CABLE CORPORATION (NASDAQ:OCC) Recent Trading Information
OPTICAL CABLE CORPORATION (NASDAQ:OCC) closed its last trading session 00.00 at 2.95 with 5,502 shares trading hands.