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) June 30, 2010
DREAMS, INC.
(Exact name of registrant as specified in its charter)
| | | | |
| Utah | | 001-33405 | | 87-0368170 |
(State or other jurisdiction of incorporation) | | (Commission File Number) | | (IRS Employer Identification No.) |
| | |
| 2 South University Drive, Plantation, Florida | | 33324 |
| (Address of principal executive offices) | | (Zip Code) |
Registrant’s telephone number, including area code: (954) 377-0002
Registrant’s facsimile number, including area code: (954) 475-8785
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)) |
On June 30, 2010, Dreams, Inc. (the “Company”) announced that it has received a commitment from Regions Bank (the “Bank”) to provide a $20 million senior secured credit facility for the Company and its subsidiaries (the “Facility”). The Facility is subject to execution of a definitive agreement between the Company and the Bank, which agreement shall contain customary terms and provisions.
In addition, the Company received and executed an initial 15-day extension, to July 15, 2010, of its existing senior secured credit facility with Comerica Bank (the “Comerica Facility”). The Comerica Facility was extended on the same terms and conditions as currently in place. The Company will pay a $10,000 bank fee and reimburse Comerica for legal fees in connection with documenting the extension. There were no modifications to the terms and conditions of this credit facility, other than the extension.
A copy of the press release is attached hereto.
| ITEM 9.01 | Financial Statements and Exhibits |
(d) Exhibits
| | 99.1 | Press Release dated June 30, 2010 |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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Date: June 30, 2010 | | DREAMS, INC. |
| | |
| | By: | | /s/ Ross Tannenbaum |
| | | | Ross Tannenbaum |
| | | | Chief Executive Officer |
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Exhibit Index
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Exhibit No. | | Description |
| |
| 99.1 | | Press Release dated June 30, 2010 |
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