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HDNG > SEC Filings for HDNG > Form 8-K on 6-Nov-2013All Recent SEC Filings

Show all filings for HARDINGE INC

Form 8-K for HARDINGE INC


6-Nov-2013

Entry into a Material Definitive Agreement


Item 1.01 Entry Into a Material Definitive Agreement.

On October 31, 2013 Hardinge, Inc. (the "Company") entered into an agreement (the "Amendment") with M&T Bank (the "Bank") modifying the $25 million secured revolving credit facility and the $23 million secured term loan provided by the Bank to the Company and its subsidiaries pursuant to agreements dated May 9, 2013. The Amendment provides that the amount of net proceeds from sales of the Company's common stock pursuant to the Controlled Equity Offering Sales Agreement between the Company and Cantor Fitzgerald & Co. dated August 9, 2013 (the "Offering") that must be applied as pre-payments of principal on the credit facilities is reduced from 75% to 25% of net proceeds. The Amendment also provides that if the Company uses net proceeds from the Offering to repay amounts outstanding under the revolving credit facility, these amounts will be available for future borrowing by the Company for uses approved by the Bank.


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