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| MDLK > SEC Filings for MDLK > Form 8-K on 10-Oct-2008 | All Recent SEC Filings |
10-Oct-2008
Entry into a Material Definitive Agreement, Financial Statements and Exhi
On October 6, 2008, Medialink Worldwide Incorporated (the "Company") entered into Amendment and Waiver Agreements (the "Amendments") with each of Iroquois Master Fund, Ltd., Portside Growth and Opportunity Fund, Rockmore Investment Master Fund Ltd., and Smithfield Fiduciary LLC (collectively, the "Holders") related to the Company's Variable Rate Convertible Debentures due November 9, 2009 (the "Debentures"). Under the terms of the Amendments, the Company made a $2,000,000 payment to the Holders, $1,700,000 of which was applied to principal outstanding and $300,000 of which satisfies the Company's future interest obligations on the Debentures for the fifteen-month period following the payment date. In exchange for such payment, the maturity date of the remaining principal balance of the Debentures of $2,650,000 was extended to June 30, 2010, and certain definitions related to events of default under the Debentures were modified. The Company also agreed to seek approval from NASDAQ to amend the exercise price from $3.99 to $0.50 on 524,637 warrants held by the Holders; however, such approval is not a condition to the effectiveness of the Amendments.
In addition, simultaneous with the execution of the Amendments, the Company and the Holders entered into a Security Agreement pursuant to which the Company granted the Holders a security interest in the Company's assets.
(a) Financial statements of business acquired
Not applicable.
(b) Pro forma financial information
Not applicable to smaller reporting companies.
(c) Shell company transactions
Not applicable.
(d) Exhibits
4.2 Form of Variable Rate Convertible Debenture due November 9, 2009.
4.3 Form of Common Stock Purchase Warrant.
4.4 Form of Registration Rights Agreement, dated as of November 8, 2004.
4.5 Form of Amendment and Waiver Agreement dated as of October 6, 2008.
10.15 Securities Purchase Agreement dated as of November 8, 2004 among Medialink
Worldwide Incorporated, Iroquois Master Fund, Ltd., Portside Growth and
Opportunity Fund, Rockmore Investment Master Fund Ltd., and Smithfield Fiduciary
LLC.
10.16 Security Agreement among Medialink Worldwide Incorporated, Iroquois Master Fund, Ltd., Portside Growth and Opportunity Fund, Rockmore Investment Master Fund Ltd., and Smithfield Fiduciary LLC.
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