SMTC CORPORATION (NASDAQ:SMTX) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
On May 29, 2019, SMTC Corporation (the “Company”) entered into a backstop agreement (the “Backstop Agreement”) with a current stockholder of the Company (the “Backstop Purchaser”) in connection with the Company’s previously announced offering of subscription rights to the Company’s stockholders and holders of the Company’s outstanding warrants (the “Rights Offering”). to Backstop Agreement, in connection with the Rights Offering, the Backstop Purchaser has agreed to exercise its basic subscription privilege in full (the “Backstop Purchaser’s Basic Subscription Privilege”), to exercise its over-subscription privilege (the “Backstop Purchaser’s Over Subscription Privilege”) and, upon the completion of the Rights Offering, to purchase such number of the remaining available shares not otherwise subscribed for to all other stockholders’ basic subscription privileges and over-subscription privileges equal to $750,000 less the aggregate amount of shares purchased by the Backstop Purchaser to the Backstop Purchaser’s Basic Subscription Privilege and the Backstop Purchaser’s Over Subscription Privilege.
The foregoing description of the Backstop Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Backstop Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
(d) Exhibits
| 10.1 | Backstop Agreement, dated as of May 29, 2019, by and between SMTC Corporation and Gregory Weaver. |
SMTC CORP Exhibit
EX-10.1 2 exh_101.htm EXHIBIT 10.1 Exhibit 10.1 BACKSTOP AGREEMENT This Backstop Agreement (the “Agreement”) is made as of May 29,…
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About SMTC CORPORATION (NASDAQ:SMTX)
SMTC Corporation (SMTC) is a provider of electronics manufacturing services (EMS). The Company’s manufacturing services include product design and sustaining engineering services, printed circuit board assembly (PCBA), production, enclosure fabrication, systems integration and testing services, configuration to order, build to order and direct order fulfillment. Its geographic segments include the United States, Mexico and China. SMTC offers integrated contract manufacturing services to global original equipment manufacturers and technology companies primarily within the industrial, networking and computing, communications and medical market sectors. SMTC offers over three vertically integrated manufacturing streams, such as enclosures and precision metal fabrication products, PCBA products and larger-scale systems. For each of these streams, SMTC provides a range of manufacturing services, from assembly, test to system level test and end customer order fulfillment.
