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BJCT > SEC Filings for BJCT > Form 8-K on 1-Oct-2013All Recent SEC Filings




Entry into a Material Definitive Agreement, Creation of a Direct

Item 1.01 Entry into a Material Definitive Agreement

On September 25, 2013, Bioject Medical Technologies Inc. ("Bioject") issued to Life Sciences Opportunities Fund II, L.P. and Life Sciences Opportunities Fund II (Institutional), L.P. (the "Purchasers"), Senior Secured Promissory Notes in the aggregate amount of $250,000 (the "Notes"), in exchange for the payment of $250,000 by the Purchasers. The Notes are secured by all the intellectual property and ownership rights of Bioject, and its wholly owned subsidiary Bioject Inc., in the device known as the vial adapter. The Notes bear interest at the rate of 15% per year with all principal and interest due on or before March 31, 2014, provided that the Notes will be prepaid from the net proceeds of any sale of the intellectual property and/or ownership rights of Bioject and Bioject Inc. in the vial adapter. A security interest in the intellectual property rights in the vial adapter was released on September 25, 2013, by the holders (the "Holders") of an aggregate of $450,000 senior secured bridge promissory notes (the "Bridge Notes"), issued July 16, 2013 and August 28, 2013, in exchange for the increase of the interest rate on the Bridge Notes from 10% to 15%.

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 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    Notes issued by Bioject to the Purchasers.

10.2    Intellectual Property Security Agreement dated September 25, 2013 between
        Bioject, Bioject Inc. and the Purchasers.

10.3    Amendments to Bridge Notes and related security agreements, dated
        September 25, 2013, by and among Bioject, Bioject Inc. and the Holders.

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