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): July 25, 2005
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MRU HOLDINGS, INC.
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(Exact name of registrant as specified in its charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
000-33487 33-0954381
(Commission File Number) (IRS Employer Identification No.)
1114 Avenue of the Americas, New York, New York 10036
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(Address of principal executive offices and zip code)
(212) 754-0774
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(Registrant's telephone number, including area code)
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(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
CF 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 July 25, 2005, the Registrant's indirect wholly-owned subsidiary, MRU
Lending, Inc. ("MRUL") and Doral Bank NY, FSB, a federally chartered savings
bank in the business of originating various types of consumer loans including
student loans (the "Bank"), entered into a definitive agreement providing for
the Bank's origination of private student loans to qualified applicants
participating in MRUL's private student loan program, the marketing of such
program and solicitation and qualification of such applicants by MRUL and the
sale by the Bank and purchase by MRUL of such student loans. The agreement
between MRUL and the Bank is evidenced by a Loan Program Agreement ("Loan
Program Agreement") and a Loan Sale Agreement ("Loan Sale Agreement") both dated
July 25, 2005 (collectively referred to as the "Agreements") a brief description
of the material terms of the Agreements is provided herein and is qualified in
its entirety by reference to the full text of the Agreements which are attached
hereto as exhibits and incorporated herein by this reference. Pursuant to the
Loan Program Agreement, the Bank has agreed to not originate or sell private
student loans for or to any party other than MRUL. The Agreements have a 36
month term and are automatically renewable for up to two successive terms of 12
months.
Item 9.01 Financial Statements and Exhibits
(c) Exhibits
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Exhibit No. Exhibit
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10.1 Loan Program Agreement dated July 25, 2005 between MRU
Lending, Inc. and Doral Bank NY, FSB
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10.2 Loan Sale Agreement dated July 25, 2005 between MRU
Lending, Inc. and Doral Bank NY, FSB
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the registrant has duly caused this current report to be signed on its
behalf by the undersigned, thereunto duly authorized.
MRU HOLDINGS, INC.
Date: July 29, 2005 By: /s/ Vishal Garg
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Name: Vishal Garg
Title: Chief Financial Officer
Exhibit Index
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Exhibit No. Exhibit
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10.1 Loan Program Agreement dated July 25, 2005 between MRU
Lending, Inc. and Doral Bank NY, FSB
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10.2 Loan Sale Agreement dated July 25, 2005 between MRU
Lending, Inc. and Doral Bank NY, FSB
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