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| RFMI > SEC Filings for RFMI > Form 8-K on 2-Apr-2009 | All Recent SEC Filings |
2-Apr-2009
Regulation FD Disclosure
On March 27, 2009, RF Monolithics, Inc. (the "Company") reported to the lender (the "Bank") under its Credit and Security Agreement dated August 29, 2007, as amended (the "Credit Agreement"), that the results of operations for its second quarter fiscal year 2009 resulted in non-compliance with several financial covenants under the Credit Agreement. The Credit Agreement provides that, upon non-compliance with such financial covenants, the Bank may take various actions, including among other things any one or more of the following: (i) terminate its commitment to make advances to the Company, (ii) declare the balance of the indebtedness, in the amount of approximately $4.7 million as of March 31, 2009, due and payable, (iii) exercise its rights as a secured creditor by taking possession of or otherwise liquidating some or all its collateral or (iv) increase the interest rate on unpaid balances.
Pursuant to the Credit Agreement the Bank has increased the interest rate by 400 basis points retroactively to March 1, 2009. The Bank has chosen not to exercise its other rights under the Credit Agreement at this time. The Company continues to have access to available funds under the revolver. The announcement of these events was made through the New Release attached hereto as Exhibit 99 to this Report and incorporated herein.
9.01 Financial Statements and Exhibits
(c) Exhibits.
99 RF Monolithics, Inc. News Release dated April 2, 2009.
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