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) June 9, 2005
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DEL GLOBAL TECHNOLOGIES CORP.
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(Exact name of registrant as specified in charter)
New York 0-3319 13-1784308
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
One Commerce Park, Valhalla, NY 10595
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (914) 686-3650
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(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 June 9, 2005, the registrant entered into a waiver and amendment
("Amendment No. 9") to that certain loan and security agreement by and among the
registrant, Bertan High Voltage Corp., RFI Corporation, Del Medical Imaging
Corp. and GE Business Capital Corporation f/k/a/ Transamerica Business Capital
Corporation (the "Lender") dated June 10, 2002 (the "Loan and Security
Agreement"). A copy of Amendment No. 9 to the Loan and Security Agreement is
attached hereto as EXHIBIT 99.01 and incorporated herein by reference. The
following summary of Amendment No. 9 to the Loan and Security Agreement does not
purport to be complete and is subject to and qualified in its entirety by
reference to the actual text of such agreement. All capitalized terms used but
not defined herein shall have the respective meanings assigned to such terms in
the Loan and Security Agreement. The terms of the Loan and Security Agreement
were amended to provide that at all times, after giving effect to all Revolving
Credit Loans and all Letters of Credit issued at such time, the Excess
Availability shall not be less than $250,000. In addition, the Lender waived the
Event of Default arising solely out of the failure of the Borrowers to maintain
the Fixed Charge Coverage Ratio for the fiscal period ending April 30, 2005 as
required by Section 8.4 of the Loan and Security Agreement.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statements of Businesses Acquired.
Not Applicable
(b) Pro Forma Financial Information.
Not Applicable
(c) Exhibits.
99.01 Waiver and Ninth Amendment dated as of June 9, 2005 to the
Loan and Security Agreement by and among the registrant,
Bertan High Voltage Corp., RFI Corporation, Del Medical
Imaging Corp. and GE Business Capital Corporation f/k/a/
Transamerica Business Capital Corporation, dated as of June
10, 2002.
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.
DEL GLOBAL TECHNOLOGIES CORP.
(Registrant)
Date: June 9, 2005
By: /s/ Mark Koch
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Mark Koch
Principal Accounting Officer
EXHIBIT INDEX
Exhibit No. Description
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99.01 Waiver and Ninth Amendment dated as of June 9, 2005 to the Loan
and Security Agreement by and among the registrant, Bertan High
Voltage Corp., RFI Corporation, Del Medical Imaging Corp. and GE
Business Capital Corporation f/k/a/ Transamerica Business Capital
Corporation, dated as of June 10, 2002.
