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0000950123-11-046287.txt : 20110506 0000950123-11-046287.hdr.sgml : 20110506 20110506111849 ACCESSION NUMBER: 0000950123-11-046287 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 5 CONFORMED PERIOD OF REPORT: 20110505 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20110506 DATE AS OF CHANGE: 20110506 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MAD CATZ INTERACTIVE INC CENTRAL INDEX KEY: 0001088162 STANDARD INDUSTRIAL CLASSIFICATION: GAMES, TOYS & CHILDREN'S VEHICLES (NO DOLLS & BICYCLES) [3944] IRS NUMBER: 874627953 STATE OF INCORPORATION: Z4 FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14944 FILM NUMBER: 11817560 BUSINESS ADDRESS: STREET 1: 141 ADELAIDE STREET WEST STREET 2: SUITE 400 CITY: TORONTO ONTARIO STATE: A6 ZIP: M5H 3L5 BUSINESS PHONE: 6196839830 MAIL ADDRESS: STREET 1: 141 ADELAIDE STREET WEST STREET 2: SUITE 400 CITY: TORONTO ONTARIO STATE: A6 ZIP: M5H 3L5 FORMER COMPANY: FORMER CONFORMED NAME: GAMES TRADER INC DATE OF NAME CHANGE: 19990608 8-K 1 a59441e8vk.htm FORM 8-K e8vk

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): May 5, 2011

MAD CATZ INTERACTIVE, INC.

(Exact Name of Registrant as Specified in Charter)


Canada	001-14944	N/A

(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

7480 Mission Valley Road, Suite 101
San Diego, California 92108

(Address of Principal Executive Offices)

(619) 683-9830

(Registrant’s telephone number, including area code)

Not applicable

(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:


o		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


o		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14.a-12)


o		Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


o		Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Item 7.01		Regulation FD Disclosure.

On May 5, 2011, Mad Catz Interactive, Inc. issued a press release announcing the repayment of all of the convertible loan notes issued in its purchase of the Saitek group of companies in November 2007 and confirming the closing of previously reported $12.2 million private placement transaction on April 21, 2011. A copy of such press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. Pursuant to the rules and regulations of the Securities and Exchange Commission, such exhibit and the information set forth therein are deemed to have been furnished and shall not be deemed to be “filed” under the Securities Exchange Act of 1934, as amended.


Item 9.01.		Financial Statements and Exhibits

(d) Exhibits.


	99.1			Press Release, dated May 5, 2011, issued by Mad Catz Interactive, Inc.

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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: May 6, 2011	MAD CATZ INTERACTIVE, INC.
	By:	/s/ Allyson Evans
		Name:	Allyson Evans
		Its: Interim Chief Financial Officer

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EX-99.1 2 a59441exv99w1.htm EX-99.1 exv99w1

Exhibit 99.1

For Immediate Release

MAD CATZ REPAYS ALL OUTSTANDING CONVERTIBLE NOTES

- Confirms Closing of $12.2 Million Private Placement on April 21, 2011 -

San Diego — May 05, 2011 — Mad Catz^® Interactive, Inc. (“Mad Catz”) (AMEX/TSX: MCZ) announced today that it has repaid all principal and interest related to the $14.5 million convertible loan notes incurred when the Company purchased the Saitek group of companies in November 2007. The notes carried an annual interest rate of 7.5% until March 31, 2014, and thereafter would have accrued interest at a rate of 9.0% annually. The outstanding principal of the loan notes was convertible into shares of Mad Catz common stock at $1.4191 per share. The repayment was partially funded with the net proceeds of the private placement financing, which was announced on April 18, 2011 and closed on April 21, 2011.

Repayment of the convertible loan notes will eliminate approximately $1.1 million of annual interest expense and will retire approximately 10.22 million common shares that had been included in the Company’s calculation of fully diluted earnings per share. Approximately 6.35 million shares were issued in connection with the private placement, with warrants to purchase 2.54 million additional shares, which are dilutive above $2.56 per share under the treasury accounting method.

Darren Richardson, Mad Catz’s President and Chief Executive Officer, stated, “We are extremely pleased to have retired a significant liability from our balance sheet. This action reduces the interest expense that Mad Catz incurs annually and significantly improves our liquidity position to better support the growth of our business in a manner that is anti-dilutive to our earnings per fully diluted share results.”

About Mad Catz Interactive, Inc.

Mad Catz is a leading global provider of innovative products for the interactive entertainment industry. Mad Catz develops and markets accessories for videogame systems and PCs under its Mad Catz (casual gaming), Saitek (simulation), Cyborg (pro gaming), Eclipse (home and office), Tritton (gaming audio) and V-Max (flight simulation) brands. Mad Catz also operates e-commerce and content websites for videogame and PC products under its GameShark brand, develops, manufactures and markets proprietary earphones under its AirDrives brand, and publishes and distributes video/PC games. Mad Catz distributes its products through most of the leading retailers offering interactive entertainment products and has offices in North America, Europe and Asia. For additional information please go to www.madcatz.com, as well as www.store.gameshark.com, www.saitek.com, www.cyborggaming.com, www.eclipsetouch.com, www.trittontechnologies.com, www.gameshark.com and www.airdrives.com.

Safe Harbor for Forward Looking Statements: This press release contains forward-looking statements about the Company’s business prospects that involve substantial risks and uncertainties. The Company assumes no obligation to update the forward-looking statements contained in this press release as a result of new information or future events or developments. You can identify these statements by the fact that they use words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “should,” “plan,” “goal,” “believe,” and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. Among the factors that could cause actual results to differ materially are the following: the ability to maintain or renew the Company’s licenses; competitive developments affecting the Company’s current products; first party price reductions; the ability to successfully market both new and existing products domestically and internationally; difficulties or delays in manufacturing; or a downturn in the market or industry. A further list and description of these risks, uncertainties and other matters can be found in the Company’s reports filed with the Securities and Exchange Commission and the Canadian Securities Administrators.


Track Mad Catz via the following social media: Facebook^® Page: Twitter^® Page: YouTube^® Channel: Contact: Darren Richardson, Allyson Vanderford Chief Executive Officer, Interim CFO Mad Catz Interactive, Inc. 619/683-9830		http://www.facebook.com/MadCatzInc http://twitter.com/MadCatzInc http://www.youtube.com/MadCatzCompany Joseph Jaffoni, Norberto Aja, Jim Leahy Jaffoni & Collins Incorporated 212/835-8500 or mcz@jcir.com

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