RCM Technologies, Inc. (NASDAQ:RCMT) Files An 8-K Entry into a Material Definitive Agreement

RCM Technologies, Inc. (NASDAQ:RCMT) Files An 8-K Entry into a Material Definitive Agreement

Story continues below

Item 1.01 Entry into a Material Definitive Agreement

On March 8, 2017, RCM Technologies, Inc. (the “Company”)
entered into a Seventh Amendment (the “Amendment”) to that
certain Amended and Restated Loan and Security Agreement, dated
as of February 19, 2009, as previously amended (as amended by the
Amendment, the “Loan Agreement”), by and among the Company and
all of its subsidiaries, Citizens Bank of Pennsylvania, a
Pennsylvania state chartered bank, in its capacity as
administrative agent and arranger, and Citizens Bank of
Pennsylvania, as lender.
The Amendment amends and restates in its entirety the definition
of EBITDA as defined in Section 1.1 of the Loan Agreement.
A copy of the Amendment is attached as Exhibit 99.1 hereto, and
this summary description is qualified in all respects by
reference to that amendment, which is incorporated herein by
reference.
Item 2.03
Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a
Registrant.
The information provided in Item 1.01 above is hereby
incorporated herein by reference.
Item 9.01
Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.
Exhibit Title
99.1
Seventh Amendment to Second Amended and Restated Amendment,
dated as of March 8, 2017, to Amended and Restated Loan and
Security Agreement dated as of February 19, 2009, by and
among the Company and all of its subsidiaries, Citizens
Bank of Pennsylvania, a Pennsylvania state chartered bank,
in its capacity as administrative agent and arranger, and
Citizens Bank of Pennsylvania, as lender.


About RCM Technologies, Inc. (NASDAQ:RCMT)

RCM Technologies, Inc. is a provider of business and technology solutions. The Company is also a provider of specialty healthcare services to healthcare institutions and educational facilities. The Company operates through three segments: Engineering, Information Technology (IT) and Specialty Health Care Services. Its Engineering segment provides engineering and design, engineering analysis, technical writing and technical support services, engineer, procure and construction management (EPC), as well as demand side management and energy conservation services. Its IT segment provides enterprise business solutions, application services, infrastructure solutions, competitive advantage and productivity solutions, life sciences solutions and other selected vertical market specific offerings. The Specialty Health Care Services segment provides the staffing of healthcare professionals, primarily therapists, nurses and care givers. It services various national and international companies.

RCM Technologies, Inc. (NASDAQ:RCMT) Recent Trading Information

RCM Technologies, Inc. (NASDAQ:RCMT) closed its last trading session down -0.06 at 5.10 with 7,310 shares trading hands.

An ad to help with our costs