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):March 29, 2017
GREEN ENVIROTECH HOLDINGS CORP.
(Exact name of registrant as specified in its charter)
Delaware | 000-54395 | 32-0218005 | ||
(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (IRS Employer Identification No.) |
14699 Holman Mtn. Jamestown CA | 95327 | |
(Address of principal executive offices) | (Zip code) | |
Registrant’s telephone number, including area code: | (209) 848-4384 |
N/A
(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 March 29, 2017, Green EnviroTech Holdings Corp. entered into a lease and working capital credit facility with Caliber Capital & Leasing LLC and its assignee, Real Estate Acquisition Development Sales, LLC (“READS”). Under the agreements, READS is providing an initial commitment of up to $2.5 million for the construction of the Company’s first processing line in its centralized Carbon Finishing Plant in Ohio, which the Company will then lease from READS and operate. The lease will have an initial term of seven years, after which the Company will have the option to purchase the facility from READS or renew the lease. The Company anticipates receiving the initial draw on that $2.5 million and beginning work on the Ohio facility immediately. The agreements provide for up to an additional $97.5 million in financing, subject to successful due diligence and underwriting, to be used for construction of additional facilities.
ITEM 8.01—OTHER EVENTS
On March 30, 2017, Green EnviroTech Holdings Corp. issued a press release announcing its entry into these agreements, a copy of which is attached as Exhibit 99.01.
ITEM 9.01—FINANCIAL STATEMENTS AND EXHIBITS
The following are filed as exhibits to this report:
Exhibit Number* | Title of Document | Location | ||
Item 10 | Material Contracts | |||
10.24 | Letter Agreement between Caliber Capital & Leasing LLC and Green EnviroTech Holdings Corp. dated September 22, 2016, and executed March 29, 2017 | To be filed | ||
10.25 | Master Equipment and Building Related Lease Agreement between Real Estate Acquisition Development Sales, LLC, and Green EnviroTech Holdings Corp., executed March 29, 2017 | To be filed | ||
Item 99 | Miscellaneous | |||
99.01 | Press release dated March 30, 2017 | Attached |
* | All exhibits are numbered with the number preceding the decimal indicating the applicable SEC reference number in Item 601 and the number following the decimal indicating the sequence of the particular document. Omitted numbers in the sequence refer to documents previously filed as an exhibit. |
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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.
GREEN ENVIROTECH HOLDINGS CORP. | ||
Dated: March 30, 2017 | By: | /s/ Chris Bowers |
Chris Bowers, Chief Executive Officer |
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