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): January 19, 2011
ZHONE TECHNOLOGIES, INC.
(Exact Name of Registrant as Specified in its Charter)
Delaware | 000-32743 | 22-3509099 | ||
(State or Other Jurisdiction of Incorporation) | (Commission File No.) | (I.R.S. Employer Identification No.) |
7001 Oakport Street
Oakland, California 94621
(Address of Principal Executive Offices, Including Zip Code)
(510) 777-7000
(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:
¨ | 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 January 19, 2011, Zhone Technologies, Inc., a Delaware corporation (the “Company”), and Silicon Valley Bank, a California corporation (“SVB”), entered into an Amendment to Loan Documents (the “Amendment”). Under the terms of the Amendment, SVB agreed to waive an event of default existing as a result of the Company’s violation of the Required EBITDA covenants for the compliance period ended December 31, 2010 under the Company’s Second Amended and Restated Loan and Security Agreement, dated as of March 16, 2009, and Loan and Security Agreement (EXIM Facility), dated as of March 16, 2009, in effect between the Company and SVB.
The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
The following exhibit is filed herewith:
Exhibit | Description | |
10.1 | Amendment to Loan Documents, dated as of January 19, 2011, among Zhone Technologies, Inc., ZTI Merger Subsidiary III, Inc. and Silicon Valley Bank. |
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.
Date: January 19, 2011 | Zhone Technologies, Inc. | |||||
By: | /s/ Kirk Misaka | |||||
Kirk Misaka | ||||||
Chief Financial Officer |
EXHIBIT INDEX
Exhibit Number | Description | |
10.1 | Amendment to Loan Documents, dated as of January 19, 2011, among Zhone Technologies, Inc., ZTI Merger Subsidiary III, Inc. and Silicon Valley Bank. |