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| CAMP > SEC Filings for CAMP > Form 8-K on 17-Aug-2009 | All Recent SEC Filings |
17-Aug-2009
Regulation FD Disclosure, Financial Statements and Exhibits
On August 12, 2009, CalAmp Corp. ("CalAmp" or the "Company") sold its preferred stock holding in MIR3, Inc., a privately-held company, to a group of private investors not affiliated with CalAmp. The sales price was $1,015,000. After giving effect to transaction costs, the Company recognized a pre-tax loss of approximately $1 million on this sale.
Pursuant to the Ninth Amendment to the Company's bank credit agreement, in which the banks consented to this asset sale, $1 million of the sales proceeds were applied to the outstanding balance of the bank term loan, thereby reducing the scheduled principal payment due September 30, 2009 from $1.6 million to $600,000. The balance of the term loan is $13.0 million after giving effect to this $1 million payment.
The information in this Item 7.01 of the Company's Current Report on Form 8-K is being furnished and shall not be deemed to be "filed" for the purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section. Furthermore, the information in this Item 7.01 of the Company's Current Report on Form 8-K shall not be deemed to be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, unless such subsequent filing specifically references this Current Report on Form 8-K.
(c) Exhibits
99.1 Ninth Amendment and Consent to Credit Agreement between CalAmp Corp., Bank of Montreal and other lenders party thereto dated August 4, 2009
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