PERCEPTRON, INC. (NASDAQ:PRCP) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On May 4, 2017, Perceptron, Inc. (the Company) and Comerica Bank
(Comerica) entered into the Ninth Amendment to the Credit
Agreement dated as of November 16, 2010 (as amended, the Credit
Agreement), and related documents, including a Revolving Credit
Note and an Advance Formula Agreement. The Ninth Amendment
changes the maximum permitted borrowings under the Credit
Agreement from $10.0 million to $6.0 million. Additionally the
borrowing base was reduced to the lesser of (i) $6.0 million or
(ii) the sum of 80% of eligible accounts, plus the lesser of 50%
of eligible inventory or $2.5 million. The foregoing description
is qualified in its entirety by reference to the Ninth Amendment,
Revolving Credit Note and Advance Formula Agreement, copies of
which are attached hereto as Exhibits 10.1, 10.2 and 10.3 and
incorporated herein by reference.
Item 2.02. RESULTS OF OPERATIONS AND FINANCIAL
On May 8, 2017, Perceptron, Inc. (the Company) issued a press
release announcing the Companys financial and operating results
for the fiscal 2017 third quarter ended March 31, 2017. Attached
hereto and incorporated by reference as Exhibit 99.1 is the press
release relating to such announcement. Such information,
including Exhibit 99.1 attached hereto under Item 9.01, shall not
be deemed filed for purposes of Section 18 of the Securities
Exchange Act of 1934, nor shall it be deemed incorporated by
reference in any filing under the Securities Act of 1933, except
as shall be expressly set forth by specific reference in such
Item 9.01. Financial Statements and Exhibits
Ninth Amendment to Amended and Restated Credit Agreement,
dated November 16, 2010, between the Company and Comerica
Master Revolving Note, dated May 4, 2017, between the Company
and Comerica Bank.
Advance Formula Agreement, dated May 4, 2017, between the
Company and Comerica Bank.
Press Release dated May 8, 2017 announcing the Companys
financial and operating results for the fiscal 2017 third
quarter ended March 31, 2017.
About PERCEPTRON, INC. (NASDAQ:PRCP)
Perceptron, Inc. develops, produces and sells a range of automated industrial metrology products and solutions to manufacturing organizations for dimensional gauging, dimensional inspection and three-dimensional (3D) scanning. The Company’s products include 3D machine vision solutions, robot guidance, coordinate measuring machines (CMMs), laser scanning and advanced analysis software. The Company’s products are categorized as In-Line, Near-Line and Off-Line Measurement Solutions (Measurement Solutions); 3D Scanning Solutions, and Value Added Services. Its In-Line and Near-Line measurement solutions include AutoGauge, AutoFit, AutoScan, AutoGuide and Helix. Its Off-Line measurement solutions include Coord3 and TouchDMIS. Its 3D Scanning Solutions include ScanWorks, ScanR and WheelWorks. Its Value Added Services include training, field service, calibration, launch support services, maintenance agreements and repairs. The Company operates in the Americas, Europe and Asia. PERCEPTRON, INC. (NASDAQ:PRCP) Recent Trading Information
PERCEPTRON, INC. (NASDAQ:PRCP) closed its last trading session down -0.02 at 8.57 with 123,573 shares trading hands.