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 12, 2020
GOLDEN MINERALS COMPANY
(Exact name of registrant as specified in its charter)
| DELAWARE | 1-13627 | 26-4413382 | ||
|
(State or other jurisdiction of
incorporation or organization) |
(Commission
File Number) |
(I.R.S. Employer
Identification Number) |
350 Indiana Street, Suite 650
Golden, Colorado 80401
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (303) 839-5060
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):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class |
Trading
Symbol(s) |
Name
of each exchange
on which registered |
||
| Common Stock, $0.01 par value | AUMN | NYSE American |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2 of this chapter). Emerging growth company ¨
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. ¨
TABLE OF CONTENTS
| Item 1.02 | Termination of a Material Definitive Agreement |
| Item 1.02 | Termination of a Material Definitive Agreement. |
On August 12, 2020, Golden Minerals Company (the “Company”) repaid in full all outstanding borrowings under, and terminated, the Short-Term Loan Agreement dated March 30, 2020 with Sentient Global Resources Fund IV, L.P., a Cayman Islands exempted limited partnership (“Sentient”), pursuant to which Sentient granted to the Company an unsecured loan in an amount equal to US$1,000,000 (the “Sentient Loan”). Sentient is a private equity fund and, together with certain other Sentient equity funds, is the Company’s largest stockholder, holding in the aggregate approximately 28% of the Company’s outstanding common stock. In accordance with the terms of the Sentient Loan, the Company prepaid the loan in full in the amount of approximately $1,037,159 (including all accrued interest), with no prepayment penalty.
A brief description regarding the material terms and conditions of the Sentient Loan and other information regarding the relationship between the Company and Sentient are set forth in Item 1.01 of the current report on Form 8-K filed by the Company on April 2, 2020, which description and information are incorporated herein by reference.
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.
Date: August 12, 2020
| Golden Minerals Company | ||
| By: | /s/ Robert P. Vogels | |
| Name: Robert P. Vogels | ||
| Title: Senior Vice President and Chief Financial Officer | ||