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): April 13, 2006
BIOJECT MEDICAL TECHNOLOGIES INC.
(Exact name of registrant as specified in its charter)
Commission File Number: 0-15360
Oregon | | 93-1099680 |
(State or other jurisdiction of incorporation
or organization) | | (I.R.S. Employer Identification No.) |
| | |
20245 SW 95th Avenue | | |
Tualatin, Oregon | | 97062 |
(Address of principal executive offices) | | (Zip Code) |
Registrant’s telephone number, including area code: (503) 692-8001
Former name or former address if changed since last report: no change
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:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
BIOJECT MEDICAL TECHNOLOGIES INC.
FORM 8-K
INDEX
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Item 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
On April 13, 2006, we sold our New Jersey office building located at 211 Somerville Road, Bedminster, New Jersey 07921 (the “Property”) for net proceeds of $1.125 million. This Property was collateral for our $3.0 million term loan with Partners For Growth, L.P. Pursuant to the terms of the term loan agreement, we are required to use the net proceeds from the sale of this Property to pay down the outstanding balance on the term loan, with the proceeds first applied to the scheduled principal payments on the loan in the inverse order of maturity. Accordingly, approximately $917,000 of the proceeds was applied to the long-term portion of the outstanding balance of the term loan and the remaining approximately $131,000 of available proceeds was applied to the current portion. Following the application of these payments, the remaining balance outstanding on this term loan was approximately $833,000, which will be repaid in the regularly scheduled monthly installments through January 2007.
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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 thereunto duly authorized.
Date: April 17, 2006 | BIOJECT MEDICAL TECHNOLOGIES INC. |
| (Registrant) |
| |
| |
| /s/ JOHN GANDOLFO | |
| John Gandolfo |
| Chief Financial Officer and Vice President of Finance |
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