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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Date of Report (Date of earliest event reported): June 21, 2001
SL INDUSTRIES, INC.
(Exact name of issuer as specified in its charter)
New Jersey 1-4987 21-0682685
(STATE OR OTHER JURISDICTION OF (COMMISSION (I.R.S. EMPLOYER
INCORPORATION OR ORGANIZATION) FILE NUMBER) IDENTIFICATION NUMBER)
520 Fellowship Road, Suite A114
Mount Laurel, New Jersey 08054
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES AND ZIP CODE)
(856) 727-1500
(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)
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ITEM 5. OTHER EVENTS.
On June 21, 2001, SL Industries, Inc. (the "Company") obtained a waiver
of its default on certain financial covenants in its revolving credit facility
from its bank lenders. The credit facility was also amended, in connection with
the grant of the waiver, to require, among other things, the Company to provide
its lenders additional collateral and to pay certain additional fees as well as
an increased interest rate. The waiver covers the fiscal quarters ending March
31, 2001, and June 30, 2001. On June 25, 2001, the Company issued a press
release to announce the grant of the waiver and the amendment to the credit
facility.
A copy of the bank waiver and credit facility amendment appears as
Exhibit 10, and a copy of the press release appears as Exhibit 99, to this
Report. The Exhibits are incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) The following are filed as Exhibits to this Report:
Exhibit Number Description
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10 Waiver and Amendment No. 1 to $40,000,000 Revolving Credit
Facility for SL Industries, Inc., Agented by Mellon Bank, N.A.
99 Press Release dated May 23, 2001.
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SIGNATURE
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, in the Township of Mount Laurel, State
of New Jersey, on the 10th day of July, 2001.
SL INDUSTRIES, INC.
By: /s/ David R. Nuzzo
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David R. Nuzzo
Vice President Finance and Administration
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EXHIBIT INDEX
Exhibit Number Description
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10 Waiver and Amendment No. 1 to $40,000,000 Revolving Credit
Facility for SL Industries, Inc., Agented by Mellon Bank, N.A.
99 Press Release dated May 23, 2001.