Houston Wire & Cable Co - Current report filing (8-K)
02 Oktober 2007 - 8:53PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date
of
report (Date of earliest event reported):
September 28,
2007
HOUSTON
WIRE & CABLE COMPANY
(Exact
Name of Registrant as Specified in its Charter)
Delaware
(State
or
Other Jurisdiction of Incorporation)
000-52046
|
|
36-4151663
|
(Commission
File Number)
|
|
(IRS
Employer
Identification
No.)
|
10201
North Loop East
Houston,
TX
|
77029
|
(Address
of Principal Executive Offices)
|
(Zip
Code)
|
(713)
609-2100
(Registrant’s
telephone number, including area code)
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (
see
General Instruction A.2. below):
o
Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
1.01.
|
Entry
into a Material Definitive
Agreement.
|
On
September 28, 2007, the boards of directors of Houston Wire & Cable Company
(the “Company”) and its wholly-owned subsidiary, HWC Wire & Cable Company
(the “Subsidiary”), entered into the Thirteenth Amendment, (the “Thirteenth
Amendment”), to the Amended and Restated Loan and Security Agreement, dated as
of May 22, 2000, among the Subsidiary, as borrower, the Company, as guarantor,
the lenders named therein and Bank of America, N.A., as agent (the “Loan
Agreement”).
The
Thirteenth Amendment increases the maximum amount that may be borrowed under
the
Loan Agreement from $55 million to $75 million and modifies certain financial
covenants and the covenants governing distributions by the Subsidiary to the
Company to reflect the Company’s recently announced increase to the stock
repurchase program. A copy of the Thirteenth Amendment is filed as Exhibit
10.1
to this report and is incorporated herein by reference.
Item
2.03
|
Creation
of a Direct Financial Obligation or an Obligation under an Off-Balance
Sheet Arrangement of a
Resident.
|
The
information in Item 1.01 of this Current Report on Form 8-K is incorporated
into
this Item 2.03 by reference.
Item
8.01.
|
Other
Events
.
|
On
October 1, 2007, the Corporation announced that its Board of Directors had
approved an increase in the previously-announced stock repurchase program from
$30 million to a maximum of $50 million. A copy of the Corporation’s
press release announcing the increase is attached hereto as Exhibit
99.1.
Item
9.01.
|
Financial
Statements and Exhibits.
|
(d) Exhibits.
|
|
|
|
|
Thirteenth
Amendment, effective September 28, 2007, to the Amended and Restated
Loan
and Security Agreement dated as of May 22, 2000 among HWC Wire & Cable
Company, as borrower, Houston Wire & Cable Company, as guarantor, the
lenders named therein and Bank of America, N.A., as
agent.
|
|
|
|
Press
Release, dated as of October 1, 2007, issued by Houston Wire & Cable
Company
|
SIGNATURES
Pursuant
to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report
to
be signed on its behalf by the undersigned hereunto duly
authorized.
|
HOUSTON
WIRE & CABLE COMPANY
|
|
|
|
|
Date:
October 2, 2007
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By:
|
/s/
Charles A. Sorrentino
|
|
|
|
Charles
A. Sorrentino
|
|
|
|
President
and Chief Executive Officer
|
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