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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
Date of Report (Date of earliest event reported): February 4, 2000
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MIM Corporation
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(Exact name of registrant as specified in its charter)
Delaware 0-28740 05-0489664
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(State of incorporation) (Commission File Number) (IRS Employer
Identification No.)
100 Clearbrook Road, Elmsford, NY 10523
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (914) 460-1600
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(Former name or former address, if changed since last report)
Item 5. Other Events
On February 4, 2000, MIM Corporation (the "Company"), through its principal
pharmacy benefit management operating subsidiary, MIM Health Plans, Inc.
("Health Plans"), entered into a $30,000,000 secured revolving credit facility
(the "Facility") with General Electric Capital Corporation, as Agent and Lender,
and other lenders from time to time parties thereto. The Facility will be used
by the Company for general working capital purposes and for future acquisitions.
In addition, a portion of the Facility is available to the Company for the
further development of the Company's e-commerce and other internet operations
under its MIMRx.com, Inc. and Continental Pharmacy, Inc. subsidiaries. The
Facility has a three year term and provides for borrowings of up to $30,000,000
at a rate of interest selected by the Company equal to the Index Rate (defined
as the base rate on corporate loans at large U.S. money center commercial banks,
as quoted in the Wall Street Journal) plus a margin, or a London InterBank
Offered Rate plus a margin. Health Plans's obligations under the Facility are
secured by a first priority security interest in all of Health Plans's
receivables as well as other related collateral. Health Plans's obligations
under the Facility are guaranteed by the Company.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
10.64 Credit Agreement, dated as of
February 4, 2000, among MIM Health
Plans, Inc., MIM Corporation, the
other Credit Parties signatories
thereto, the other credit parties
signatories thereto and General
Electric Capital Corporation, for
itself and as agent for other
lenders from time to time a party
to the Credit Agreement.
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.
Date: February 9, 2000 MIM Corporation
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By: /s/ Barry A. Posner
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Name: Barry A. Posner
Title: Vice President
EXHIBIT INDEX
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Exhibit No. Exhibit
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10.64 Credit Agreement, dated as of
February 4, 2000, among MIM Health
Plans, Inc., MIM Corporation, the
other Credit Parties signatories
thereto, the other credit parties
signatories thereto, and General
Electric Capital Corporation, for
itself and as agent for other
lenders from time to time a party
to the Credit Agreement.