0001683168-20-001397.txt : 20200505 0001683168-20-001397.hdr.sgml : 20200505 20200505163011 ACCESSION NUMBER: 0001683168-20-001397 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20200504 ITEM INFORMATION: Termination of a Material Definitive Agreement FILED AS OF DATE: 20200505 DATE AS OF CHANGE: 20200505 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LANTRONIX INC CENTRAL INDEX KEY: 0001114925 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER COMMUNICATIONS EQUIPMENT [3576] IRS NUMBER: 330362767 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-16027 FILM NUMBER: 20849353 BUSINESS ADDRESS: STREET 1: 7535 IRVINE CENTER DR., SUITE 100 CITY: IRVINE STATE: CA ZIP: 92618 BUSINESS PHONE: 9494533990 MAIL ADDRESS: STREET 1: 7535 IRVINE CENTER DR., SUITE 100 CITY: IRVINE STATE: CA ZIP: 92618 8-K 1 lantronix_8k.htm 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): May 4, 2020

 

 

 

Lantronix, Inc.

(Exact Name of Registrant as Specified in Charter)

 

 

Delaware   1-16027   33-0362767
(State or other jurisdiction
of incorporation)		   (Commission File Number)   (IRS Employer
Identification No.)
         
7535 Irvine Center Drive, Suite 100
Irvine, California 92618
(Address of Principal Executive Offices, including zip code)
         
Registrant’s telephone number, including area code:  (949) 453-3990
 
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))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each Class Trading Symbol Name of each exchange on which registered
Common Stock, $0.0001 par value LTRX The Nasdaq Stock Market LLC
       

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

 

Emerging growth company ☐ 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of Exchange Act. ☐

 

 

   

 

 

Item 1.02       Termination of a Material Definitive Agreement.

 

As disclosed in the Form 8-K of Lantronix, Inc. (the “Company”) dated April 21, 2020, the Company executed a promissory note in favor of Silicon Valley Bank (the “Lender”) in the principal amount of $2,437,714 as part of the Paycheck Protection Program (the “PPP Loan”) administered by the Small Business Administration (the “SBA”) and authorized under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The Company has determined to return the entire amount of the PPP Loan and on May 4, 2020, arranged with the Lender for the immediate and irrevocable repayment of the PPP Loan back to the SBA.

 

 

  

 

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.

 

  LANTRONIX, INC.
     
  By:  

/s/ Jeremy Whitaker

      Jeremy Whitaker
      Chief Financial Officer

 

Date: May 5, 2020