VICON INDUSTRIES, INC. (NYSEMKT:VII) Files An 8-K Entry into a Material Definitive Agreement

VICON INDUSTRIES, INC. (NYSEMKT:VII) Files An 8-K Entry into a Material Definitive Agreement

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Item 1.01 Entry into a Material Definitive Agreement.

On April 20, 2017, Vicon Industries, Inc. (the “Company”)
entered into a Second Amended and Restated Credit Agreement (the
Agreement) with NIL Funding Corporation. Under the amended
agreement, the Company can borrow up to $4 million under a
sub-line of credit that is not subject to a borrowing base
formula, and can borrow up to an additional $2 million to the
extent it has sufficient eligible accounts receivable to support
such borrowings. Prior to the amendment, $4 million of the $6
million credit facility was subject to a borrowing base formula.
The amended credit agreement also extends the maturity date of
the credit facility to April 2, 2019, and reduces the Companys
minimum tangible net worth requirement.
In connection with the amended agreement, NIL Funding was issued
a three-year warrant to purchase 1.5 million shares of Vicon
common stock at a price of $.40 per share.
NIL Funding Corporation is an affiliate of The InterTech Group,
Inc. InterTechs Executive Vice President and Chief Operating
Officer, Julian A. Tiedemann, serves as the Chairman of the
Companys Board of Directors.
The foregoing is a summary of the terms of the Agreement and
warrant, does not purport to be complete, and is subject to and
qualified in its entirety by reference to the text of such
agreements, which have been filed as exhibits to this Current
Report on Form 8-K.
Item 2.03 Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a
Registrant.
The information set forth under Item 1.01 is incorporated herein
by reference.>
Item 9.01 Financial Statements and Exhibits.
>>>>>(d) Exhibits
Exhibit No.
Description
4.1
Warrant to purchase Common Stock of Vicon Industries,
Inc. dated as of April 20, 2017
10.1
Second Amended and Restated Credit Agreement between the
Company and NIL Funding Corporation, dated as of April
20, 2017
10.2
Amended and Restated Revolving Line of Credit Note
(Facility B) between the Company and NIL Funding
Corporation, dated as of April 20, 2017
10.3
Amended and Restated Revolving Line of Credit Note
(Facility A) between the Company and NIL Funding
Corporation, dated as of April 20, 2017
99.1
Registrant’s Press Release dated April 21, 2017
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About VICON INDUSTRIES, INC. (NYSEMKT:VII)

Vicon Industries, Inc. develops video management software. The Company designs, assembles and markets a range of video systems and system components, including cameras, network video servers/recorders, encoders and mass storage units, which are used in security, surveillance, safety and control applications. Its product line consists of various elements of a video system, including cameras for image capture, stand-alone network video management system software and various video recording, storage, management, and output devices and peripherals. It also sells and/or produces other video system components, such as video encoders, decoders and monitors, camera lenses, housings and mounts, matrix video switchers and controls and various video transmission devices. Its focus is on the design of network video systems that it produces and sells around the world to authorized dealers, system integrators, government entities and security products distributors.

VICON INDUSTRIES, INC. (NYSEMKT:VII) Recent Trading Information

VICON INDUSTRIES, INC. (NYSEMKT:VII) closed its last trading session up +0.030 at 0.460 with 361,268 shares trading hands.

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