UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 31, 2017
NEOPHOTONICS CORPORATION
(Exact name of registrant as specified in its charter)
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Delaware |
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001-35061 |
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94-3253730 |
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(State of incorporation) |
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(Commission File No.) |
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(IRS Employer Identification No. |
NeoPhotonics Corporation
2911 Zanker Road
San Jose, California 95134
(Address of principal executive offices and zip code)
Registrant’s telephone number, including area code: +1 (408) 232-9200
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On August 31, 2017, NeoPhotonics Corporation (the “Company”) entered into a Thirteenth Amendment to Credit Agreement effective as of August 23, 2017 (the “Amendment”) to that certain Revolving Credit and Term Loan Agreement (the “Credit Agreement”), dated as of March 21, 2013, with Comerica Bank, as Administrative Agent and Lead Arranger (the “Agent”), and the lenders from time to time party thereto. The Amendment extended the maturity date of the revolving credit line under the Credit Agreement to September 30, 2017.
The foregoing summary does not purport to be complete and is qualified in its entirety by reference to the Lease, which is attached as Exhibit 10.1 hereto and incorporated herein by reference in its entirety.
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 above and referenced under Item 1.01 is hereby incorporated by reference into this Item 2.03.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits.
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Exhibit
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Description |
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10.1 |
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Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Date: September 6, 2017 |
NEOPHOTONICS CORPORATION |
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By: |
/s/ Elizabeth Eby |
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Elizabeth Eby |
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Chief Financial Officer |
THIRTEENTH AMENDMENT TO CREDIT AGREEMENT
This Thirteenth Amendment to Credit Agreement (this “ Amendment ”) is entered into as of August 23, 2017, by and among NeoPhotonics Corporation, a Delaware corporation (“ Borrower ”), Lenders (as defined below) and Comerica Bank, as administrative agent for Lenders (in such capacity, “ Agent ”).
RECITALS
A. Borrower previously entered into that certain Revolving Credit and Term Loan Agreement dated as of March 21, 2013 (as amended, restated, supplemented or otherwise modified from time to time, the “ Credit Agreement ”), with the certain financial institutions from time to time parties thereto (collectively, “ Lenders ”), and Agent.
B. Borrower, Agent and Lenders desire to amend the Credit Agreement on the terms and conditions set forth in this Amendment.
NOW, THEREFORE , Borrower, Agent and Lenders hereby agree as follows:
1. The definition of “Revolving Credit Maturity Date” set forth in Section 1.1 of the Credit Agreement is amended and restated in its entirety as follows:
“‘Revolving Credit Maturity Date’ shall mean the earlier of (i) September 30, 2017 and (ii) the date on which the Revolving Credit Aggregate Commitment shall terminate in accordance with the provisions of this Agreement.”
2. This Amendment shall become effective (according to the terms hereof) on the date (the “Thirteenth Amendment Effective Date”) that the following conditions have been deemed fully satisfied by Agent:
(a) Agent shall have received counterpart signature pages to this Amendment, duly executed and delivered by each of Agent, Borrower and Lenders;
(b) Borrower shall have paid to Agent all reasonable costs and expenses, if any, that are due and owing to Agent and Lenders as of the date hereof;
(c) Agent and Lenders shall have received such other documents and completion of matters as Agent or Lenders may deem necessary or appropriate.
3. Borrower hereby represents and warrants that, after giving effect to this Amendment, (a) the execution and delivery of this Amendment are within Borrower’s corporate powers, have been duly authorized, are not in contravention of any law applicable to Borrower or the terms of its organizational documents, and except to the extent previously obtained do not require the consent or approval of any governmental body, agency or authority, and this Amendment and the Credit Agreement (as amended hereby) shall constitute the valid and
binding obligations of Borrower, enforceable in accordance with their respective terms, except as enforcement thereof may be limited by applicable bankruptcy, reorganization, insolvency, fraudulent conveyance, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law), (b) the representations and warranties set forth in Article 6 of the Credit Agreement are true and correct in all material respects on and as of the date hereof (other than any representation or warranty that expressly speaks only as of a certain date), and (c) as of the Thirteenth Amendment Effective Date, no Default or Event of Default shall have occurred and be continuing.
4. Except as specifically set forth herein, this Amendment (i) shall not be deemed to amend or alter in any respect the terms and conditions of the Credit Agreement (including without limitation all conditions and requirements for Advances and any financial covenants), any of the Notes issued thereunder or any of the other Loan Documents; and (ii) shall not constitute a waiver or release by Agent or Lenders of any right, remedy, Default or Event of Default under or a consent to any transaction not meeting the terms and conditions of the Credit Agreement, any of the Notes issued thereunder or any of the other Loan Documents. Furthermore, this Amendment shall not affect in any manner whatsoever any rights or remedies of Lenders with respect to any non-compliance by Borrower with the Credit Agreement or any other Loan Document, whether in the nature of a Default or Event of Default, and whether now in existence or subsequently arising, and shall not apply to any other transaction.
5. Borrower and each other Credit Party hereby acknowledge and agree that this Amendment and the amendment set forth herein do not constitute any course of dealing or other basis for altering (i) any obligation of Borrower, any other Credit Party or any other party or (ii) any rights, privilege or remedy of Lenders under the Credit Agreement, any other Loan Document, any other agreement or document, or any contract or instrument.
6. Capitalized terms used in this Amendment but not expressly defined herein shall have the respective meanings ascribed to them in the Credit Agreement.
7. This Amendment may be executed in two or more counterparts in accordance with Section 13.9 of the Credit Agreement.
8. This Amendment shall be construed in accordance with and governed by the laws of the State of California, without regard to principles of conflict of laws that would result in the application of the laws of a different jurisdiction.
Signature pages follow.
IN WITNESS WHEREOF, Borrower, Lenders and Agent have each caused this Amendment to be executed by their respective duly authorized officers or agents, as applicable, as of the date first set forth above.
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COMERICA BANK , as Agent and sole Lender |
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By: |
/s/ Robert Shutt |
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Name: |
Robert Shutt |
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Title: |
SVP |
Signatures continue on following page.
Thirteenth Amendment to Credit Agreement
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NEOPHOTONICS CORPORATION |
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By: |
/s/ Timothy S. Jenks |
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Name: |
Timothy S. Jenks |
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Title: |
Chief Executive Officer |
Thirteenth Amendment to Credit Agreement