UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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): May 21, 2009
MAGMA DESIGN AUTOMATION, INC.
(Exact name of registrant as specified in its charter)
| Delaware | 000-33213 | 77-0454924 | ||
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
1650 Technology Drive
San Jose, CA 95110
(Address of principal executive offices, including zip code)
(408) 565-7500
(Registrant’s telephone number, including area code)
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 (see General Instruction A.2. below):
| ¨ | 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 May 21, 2009, Magma Design Automation, Inc. (“Magma”) entered into a second amendment (the “Amendment”) to the Credit Agreement between Magma and Wells Fargo Bank, National Association (“Wells Fargo”), effective as of October 31, 2008 (the “Credit Agreement”).
The Amendment permits Magma, among other things, to use any of the proceeds of any credit extended under the Credit Agreement to make principal and interest payments on Magma’s outstanding 2.0% Convertible Senior Notes due May 15, 2010 and scheduled interest payments on any new convertible notes that Magma may issue in 2009 in an aggregate principal amount not to exceed $50 million. The Amendment also amends the definitions of “Permitted Indebtedness,” “Permitted Liens” and “Permitted Investments.”
The Amendment is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
| Item 9.01. | Financial Statements and Exhibits |
(d) Exhibits.
Exhibit No. | Description | |
| 10.1 | Amendment to Credit Agreement, dated May 21, 2009, between Magma and Wells Fargo |
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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.
| Magma Design Automation, Inc. | ||||
Date: May 29, 2009 | By: | /s/ Peter S. Teshima | ||
Peter S. Teshima Corporate Vice President – Finance and Chief Financial Officer | ||||
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EXHIBIT INDEX
Exhibit No. | Description | |
| 10.1 | Amendment to Credit Agreement, dated May 21, 2009, between Magma and Wells Fargo |
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