Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
SAEX > SEC Filings for SAEX > Form 8-K on 17-Oct-2013All Recent SEC Filings

Show all filings for SAEXPLORATION HOLDINGS, INC.

Form 8-K for SAEXPLORATION HOLDINGS, INC.


17-Oct-2013

Creation of a Direct Financial Obligation or an Obligation under an


Item 2.03. Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Company.

As previously reported, Eric S. Rosenfeld and David D. Sgro, who are directors and founding stockholders of SAExploration Holdings, Inc., a Delaware corporation (the "Company"), hold unsecured promissory notes issued by the Company in the aggregate principal amounts of $300,000 and $200,000, respectively (the "Notes"). The principal balance of the Notes may be converted, at the holder's option, to warrants at a price of $0.50 per warrant, or up to an aggregate of 1,000,000 warrants (the "Convertible Debt Warrants"), upon the effectiveness of stockholder approval of the conversion. On October 9, 2013, the Company amended and restated the Notes solely to extend the maturity date from October 22, 2013 to December 31, 2013. Conversion of the Notes remains subject to the effectiveness of stockholder approval. On October 9, 2013, the Company obtained written consent to the conversion of the Notes (as amended and restated on such date, the "Amended Notes") from the holders of a majority of its outstanding shares of its common stock, which consent will become effective on November 1, 2013, which is 20 days after the Company mailed an information statement to its stockholders regarding such action.

A copy of the form of the Amended Notes is attached hereto as Exhibit 4.1.



Item 5.07. Submission of Matters to a Vote of Security Holders.

On October 9, 2013, the Company obtained the written consent of the holders of 6,772,064 shares of its common stock (directly and through voting proxies), representing a majority of the shares entitled to vote, approving the conversion of the Amended Notes, which consent will become effective on November 1, 2013, which is 20 days after the Company mailed an information statement to its stockholders regarding such action. The disclosure in Item 2.03 above is incorporated herein by reference.



Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.    Description

4.1.           Form of Third Amended and Restated Convertible Promissory Notes
               issued to Eric S. Rosenfeld and David D. Sgro.

  Add SAEX to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for SAEX - All Recent SEC Filings
Copyright © 2014 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.