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BJCT > SEC Filings for BJCT > Form 8-K on 17-Jul-2013All Recent SEC Filings

Show all filings for BIOJECT MEDICAL TECHNOLOGIES INC | Request a Trial to NEW EDGAR Online Pro

Form 8-K for BIOJECT MEDICAL TECHNOLOGIES INC


17-Jul-2013

Entry into a Material Definitive Agreement, Creation of a Direct


Item 1.01 Entry into a Material Definitive Agreement

On July 16, 2013, Bioject Medical Technologies, Inc. ("Bioject") sold to Mark Logomasini, Edward Flynn, Richard Richieri and Albert Hansen (together, the "Purchasers") Senior Secured Bridge Promissory Notes in the aggregate amount of $310,000 (the "Notes"). The Notes are secured by all the intellectual property of Bioject and its wholly owned subsidiary Bioject Inc. Messrs. Flynn and Logomasini are directors of Bioject and Mr. Logomasini also is Bioject's President and Chief Executive Officer. Mr. Hansen is a former director of Bioject. The Notes bear interest at the rate of 10% per year with all principal and interest due on or before December 31, 2014, provided, that the Notes will be prepaid if Bioject can do so but still have adequate cash to fund its ongoing operations for the then forseeable future.



Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

(a) See Item 1.01 Entry into a Material Definitive Agreement.



Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On July 15, 2013, Mr. Albert Hansen informed the Board of Directors of Bioject of his decision to resign as a member of the Board of Directors of Bioject, effective immediately. Mr. Hansen's resignation was not due to any disagreement with Bioject's Board of Directors or its management.



Item 9.01 Financial Statements and Exhibits

(d) Exhibits

The following exhibits are filed herewith and this list is intended to constitute the exhibit index:

10.1 Form of Senior Secured Bridge Promissory Note dated July 16, 2013 issued by Bioject Medical Technologies Inc. to the Purchasers.

10.2 Form of Intellectual Property Security Agreement dated July 16, 2013 between Bioject Medical Technologies Inc., Bioject Inc. and the Purchasers.


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