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: March 16, 1999
Date of earliest event reported: February 02, 1999
CHADMOORE WIRELESS GROUP, INC.
(Exact name of registrant as specified in its charter)
Colorado 0-20999 84-1058165
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
2875 E. Patrick Lane, Suite G 89120
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (702) 740-5633
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(Former name or former address, if changed since last report.)
Item 5. Other Events
On March 2, 1999, pursuant to a Senior Secured Loan Agreement, among
Chadmoore Wireless Group, Inc., a Colorado corporation ("Chadmoore"), GATX
Capital Corporation and Chadmoore's subsidiaries, Chadmoore borrowed $13.5
million from GATX Capital, such amount to be increased at the option of GATX
Capital to $27 million. The closing of this transaction provides Chadmoore with
financing for up to $27 million, of which $13.5 million has now been funded. Per
the agreement, GATX Capital, at its sole discretion, has the option to make
available up to $13.5 million in additional funds, within 120 days.
Loans will be made at an interest rate fixed at the time of the funding
based on five-year US Treasury notes plus 5.5%, a five-year amortization
schedule following an interest only period, and warrants to purchase up to
1,822,500 shares of the Company's Common Stock at an exercise price of $0.39 per
share when issued to GATX Capital. The loan is secured by substantially all the
assets of the Company; provided, however, that if the full $27 million is not
received within 120 days of funding, certain assets will be released from
security and the number of the warrants will be reduced proportionately.
Reference is hereby made to the Senior Secured Loan Agreement and
related documents filed herewith as exhibits for a more complete description of
the terms and conditions of the transaction.
Item 7. Financial Statements and Exhibits
(a) Financial Statements
None.
(b) Exhibits
10.1 Senior Secured Loan Agreement
10.2 CWG Note
10.3 CCI Note
10.4 Security Agreement
10.5 Guarantee
10.6 Warrant
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.
CHADMOORE WIRELESS GROUP, INC.
By: /s/ Robert W. Moore
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Robert W. Moore, President
Date: March 16, 1999