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): October 28, 2005
Blonder Tongue Laboratories, Inc.
(Exact Name of registrant as specified in its charter)
Delaware 1-14120 52-1611421
(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
One Jake Brown Road, Old Bridge, New Jersey 08857
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (732) 679-4000
Not Applicable
(Former name or former address, if changed since last report)
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:
[_] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[_] 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 October 28, 2005, Blonder Tongue Laboratories, Inc. (the "Company") entered
into a commitment letter with National City Business Credit, Inc. ("NCBC"),
pursuant to which NCBC committed to provide to the Company (i) a $10.0 million
asset based revolving credit facility and (ii) a $3.5 million term loan
facility, both of which have a three year term. The Company intends to use the
proceeds of the credit facility to refinance the Company's existing credit
facility with Commerce Bank, to provide working capital and for other general
corporate purposes. The commitment letter is subject to certain customary
conditions to closing, including satisfactory completion of documentation. The
definitive credit agreement is expected to contain affirmative and negative
covenants customary in credit facilities of this type and is expected to be
executed on or before December 15, 2005, subject to normal and customary closing
conditions.
Forward Looking Statements
This report contains forward-looking statements within the meaning of The
Private Securities Litigation Reform Act of 1995. These statements are neither
promises nor guarantees, are based upon assumptions and estimates that might not
be realized and are subject to risks and uncertainties that could cause actual
results to differ materially from those in the forward looking statements. These
risks and uncertainties include, but are not limited to, the timing of closing
the NCBC credit facility, if at all.
SIGNATURE
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.
BLONDER TONGUE LABORATORIES, INC.
By: /s/ Eric Skolnik
Eric Skolnik
Senior Vice President and
Chief Financial Officer
Date: November 3, 2005
