-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, EicSK8VnBFYFtwLzcTpHLC/+KIEfZPbnW7+ojMj2pki3w9jk2AEyU4ievXGzkKaw Zm84bJC5YzfhUw2BzQtCbA== 0001193125-08-242641.txt : 20081125 0001193125-08-242641.hdr.sgml : 20081125 20081125060535 ACCESSION NUMBER: 0001193125-08-242641 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20081124 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20081125 DATE AS OF CHANGE: 20081125 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GOAMERICA INC CENTRAL INDEX KEY: 0001101268 STANDARD INDUSTRIAL CLASSIFICATION: RADIO TELEPHONE COMMUNICATIONS [4812] IRS NUMBER: 223693371 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-29359 FILM NUMBER: 081212043 BUSINESS ADDRESS: STREET 1: C/O GOAMERICA, INC. STREET 2: 433 HACKENSACK AVENUE CITY: HACKENSACK STATE: NJ ZIP: 07601 BUSINESS PHONE: 2019961717 MAIL ADDRESS: STREET 1: C/O GOAMERICA STREET 2: 401 HACKENSACK AVENUE CITY: HACKENSACK STATE: NJ ZIP: 07601 8-K 1 d8k.htm FORM 8-K Form 8-K

 

 

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): November 24, 2008

GoAmerica, Inc.

(Exact name of registrant as specified in its charter)

 

Delaware   0-29359   22-3693371
(State or Other Jurisdiction
of InCompany)
  (Commission
File Number)
  (I.R.S. Employer
Identification No.)

433 Hackensack Avenue

Hackensack, NJ 07601

(Address of principal executive offices) (Zip code)

(201) 996-1717

(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:

 

¨ 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))

 

 

 


INFORMATION TO BE INCLUDED IN THE REPORT

 

Item 2.02.   Results of Operations and Financial Condition

NOVATO, CALIFORNIA — November 24, 2008 – On November 24, 2008, GoAmerica, Inc. (the “Company”) issued a press release announcing that its board of directors has authorized a program to repurchase shares of the Company’s outstanding common stock (the “Program”). The Program remains subject to formal consent by the Company’s first lien lenders, which will be provided pursuant to amendments to the Company’s credit agreements. Among other things, it is expected that the amendments to the credit agreements will provide for a $2 Million reduction in the Company’s revolving line of credit and a fee to be paid to the first lien lender in an amount equal to 3% of the aggregate value of the shares repurchased by the Company pursuant to the Program. Upon receipt of such amendments, the Program is expected to be implemented immediately.

Under the Program, repurchases may be made from time to time by the Company in the open market or in private purchases in compliance with Securities and Exchange Commission guidelines. The timing and amount of any shares repurchased will be determined by the Company’s management based on its evaluation of market conditions and other factors. The repurchase program may be suspended or discontinued at anytime. It is expected that any repurchased shares will be held in treasury. In addition, the Board of Directors has established certain parameters within which purchases of shares may be made, and a limit of $1 Million on the aggregate dollar amount of the shares that may be purchased pursuant to the Program between the Program start date and December 31, 2009. The repurchase program will be funded using the company’s working capital.

 

Item 9.01.   Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit
Number

  

Description

99.1

   Press Release dated November 24, 2008.


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.

 

GoAmerica, Inc.
(Registrant)
By:   /s/ Michael J. Pendergast
Name:   Michael J. Pendergast
Title:   General Counsel & Corporate Secretary

Date: November 24, 2008


EXHIBIT INDEX

 

Exhibit
Number

  

Description

99.1

   Press Release dated November 24, 2008.
EX-99.1 2 dex991.htm PRESS RELEASE DATED NOVEMBER 24, 2008 Press Release dated November 24, 2008

Exhibit 99.1

LOGO

CONTACT:

John Ferron

GoAmerica

CFO and COO

jferron@goamerica.com

(415) 408-2340

GoAmerica

Laura Kowalcyk

lkowalcyk@cjpcom.com

(212) 279 3115 x.209

GOAMERICA, INC. ANNOUNCES

ADOPTION OF STOCK REPURCHASE PROGRAM

NOVATO, CALIFORNIA – November 24, 2008 – GoAmerica, Inc. (NASDAQ: GOAM) announced today that its Board of Directors has authorized the repurchase of up to $1 million of the Company’s outstanding common stock between the initiation of purchases and December 31, 2009. The Company may repurchase shares from time to time, at the Company’s discretion, on the open market or in private transactions. The repurchase program does not obligate the Company to repurchase any specific number of shares and may be modified or discontinued at any time.

Implementation of the repurchase program remains subject to formal consent by the Company’s first lien lenders, the granting of which is subject to amendment of the Company’s credit agreements. The Company expects to initiate repurchases immediately upon the effectiveness of the required amendments. Among other things, the amendments to the credit agreements are expected to provide for a $2 million reduction in the Company’s $15 million revolving line of credit, and payment of a fee to be paid to the first lien lenders in an amount equal to 3% of the aggregate amount of the repurchases. The repurchase program will be funded using the Company’s working capital.

The timing and amount of any share repurchases under the program will be determined by the Company’s management based on its evaluation of market conditions and other factors.

About GoAmerica, Inc.

GoAmerica, Inc. is one of the nation’s largest providers of communication services for the deaf, hard of hearing, and speech-disabled communities. As a leading provider of onsite interpreting services, video relay and text relay services, and video remote interpreting, the Company delivers a wide array of options designed to meet the varied communication needs of its customers. The Company’s vision is to improve the quality of life of its customers by being their premier provider of high quality, innovative communication services that break down communications barriers. For more information on the Company or its services, visit http://www.goamerica.com or contact GoAmerica directly at TTY 201-527-1520, voice 201-996-1717, Internet Relay by visiting http://www.i711.com or http://www.ip-relay.com, or video phone by connecting to hovrs.tv.

Safe Harbor

The statements contained in this news release that are not based on historical fact – including statements regarding the anticipated results of the transactions described in this press release – constitute “forward-looking statements” that are made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “estimate”, “anticipate”, “continue”, or similar terms, variations of such terms or the negative of those terms. Such forward-looking statements involve risks and uncertainties, including, but not limited to: (i) our ability to integrate the businesses and technologies we have acquired; (ii) our ability to respond to the rapid technological change of the wireless data industry and offer new services; (iii) our dependence on wireless carrier networks; (iv) our ability to respond to increased competition in the wireless data industry; (v) our ability to generate revenue growth; (vi) our ability to increase or maintain gross margins, profitability, liquidity and capital resources; and (vii) difficulties inherent in predicting the outcome of regulatory processes. Such risks and others are more fully described in the Risk Factors set forth in our filings with the Securities and Exchange Commission. Our actual results could differ materially from the results expressed in, or implied by, such forward-looking statements. GoAmerica is not obligated to update and does not undertake to update any of its forward looking statements made in this press release. Each reference in this news release to “GoAmerica”, the “Company” or “We”, or any variation thereof, is a reference to GoAmerica, Inc. and its subsidiaries.

“GoAmerica”, the “GoAmerica” logo, “i711”, and the “i711.com” logo, “Relay and Beyond”, and “Hands On VRS” are registered trademarks of GoAmerica. “i711.com”, “i711 Wireless”, “Mobile Video Phone”, and “MVP” are trademarks and service marks of GoAmerica. Other names may be trademarks of their respective owners.

###

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