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) FEBRUARY 11, 2005
PIZZA INN, INC.
(Exact name of registrant as specified in its charter)
MISSOURI 0-12919 47-0654575
(State or other jurisdiction of incorporation) (Commission File Number) (IRS
Employer Identification No.)
3551 PLANO PARKWAY, THE COLONY, TEXAS 75056
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (469) 384-5000
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))
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On February 11, 2005, the Company and Wells Fargo Bank, National
Association ("Wells Fargo") entered into a Second Amendment to Third Amended and
Restated Loan Agreement and Amendment to Real Estate Note amending the Company's
existing revolving credit and term loan agreements with Wells Fargo. The
amendment provides for a $3.0 million revolving credit line that will expire
December 23, 2005, replacing a $4.0 million credit line that was due to expire
October 1, 2005. Additionally, the amendment modifies the interest rates and
certain financial covenants for the revolving credit and term loans. Interest is
provided for on the revolving credit loan at a rate equal to prime plus 0.50%,
or, at the Company's option, at the LIBOR rate plus 2.75%. Interest is provided
for on the term loan at prime rate or the LIBOR rate plus 2.25%, at the
Company's option.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(C) EXHIBITS.
EXHIBIT NO. DESCRIPTION OF EXHIBIT
- ----------- ----------------------
99.1 Second Amendment to Third Amended and Restated Loan Agreement and Amendment
- ---- to Real Estate Note dated February 11, 2005, to be effective as of December
26, 2004 (furnished herewith and incorporated herein by reference)
99.2 Eighth Amended and Restated Revolving Credit Note dated February 11,
- ----- 2005, to be effective as of December 26, 2004 (furnished herewith and
incorporated herein by reference)
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.
Pizza Inn, Inc.
Date: February 15, 2005 By: /s/ Rod J. McDonald
Name: Rod J. McDonald
Title: Secretary