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 27, 2009 (February 27, 2009)
_____________
DIALYSIS CORPORATION OF AMERICA
(Exact Name of Registrant as Specified in Charter)
Florida 0-8527 59-1757642
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
1302 Concourse Drive, Suite 204, Linthicum, MD 21090
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (410) 694-0500
_____________
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:
[ ] 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 27, 2009, Dialysis Corporation of America (the "Company")
entered into Amendment No. 6 to its secured revolving credit facility (the
"Credit Agreement") with KeyBank National Association ("KeyBank"), which
Credit Agreement was originally entered into between the Company and KeyBank
on October 24, 2005 and which currently provides the Company with borrowing
under the credit facility of up to $25,000,000 by means of any combination of
base rate loans and/or LIBOR loans. Amendment No. 6 to the Credit Agreement
provides the Company with the ability to engage in repurchases of its capital
stock up to an aggregate amount of $3 million without being in violation of
the restrictive covenants of the Credit Agreement, provided that the Company
is not then in default of the Credit Agreement and that it will continue to
be in compliance with the financial covenants of the Credit Agreement after
giving effect to a stock repurchase.
The proceeds of the Credit Agreement have been and are intended to
continue to be used for development and acquisition of new dialysis centers,
working capital needs, and for other general corporate purposes.
The description provided above summarizes the Amendment No. 6 to the
Credit Agreement, a copy of which is attached as an exhibit to this Current
Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
(10) Material Contracts
(i) Amendment No. 6 to the Credit Agreement between the Company and
KeyBank National Association dated February 27, 2009
(ii) Guarantor Acknowledgement and Agreement dated February 27,
2009
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.
DIALYSIS CORPORATION OF AMERICA
/s/ Stephen W. Everett
By------------------------------------
STEPHEN W. EVERETT
President and Chief Executive Officer
Dated: February 27, 2009
EXHIBIT INDEX
Exhibit No.
- -----------
(10) Material Contracts
(i) Amendment No. 6 to the Credit Agreement between the Company and
KeyBank National Association dated February 27, 2009
(ii) Guarantor Acknowledgement and Agreement dated February 27, 2009