-----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, HIXVmy4RcYRQJVh/eM14rZqbywtDwGv9YQ2g+JTRcE9CsLhxY3ni58htyMThQhYC rrEK3mtkSVN2JAPr+YRk3Q== 0001104659-06-065133.txt : 20061005 0001104659-06-065133.hdr.sgml : 20061005 20061005123845 ACCESSION NUMBER: 0001104659-06-065133 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060929 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20061005 DATE AS OF CHANGE: 20061005 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INFOSONICS CORP CENTRAL INDEX KEY: 0001274032 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-ELECTRONIC PARTS & EQUIPMENT, NEC [5065] IRS NUMBER: 330599368 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32217 FILM NUMBER: 061130373 BUSINESS ADDRESS: STREET 1: 5880 PACIFIC CENTER BLVD. CITY: SAN DIEGO STATE: CA ZIP: 92121 BUSINESS PHONE: 858 373-1600 MAIL ADDRESS: STREET 1: 5880 PACIFIC CENTER BLVD. CITY: SAN DIEGO STATE: CA ZIP: 92121 8-K 1 a06-20805_18k.htm CURRENT REPORT OF MATERIAL EVENTS OR CORPORATE CHANGES

 

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):  September 29, 2006

InfoSonics Corporation

(Exact name of registrant as specified in its charter)

Maryland

 

001-32217

 

33-0599368

(State or other jurisdiction

 

(Commission File Number)

 

(IRS Employer Identification

of incorporation)

 

 

 

No.)

 

 

 

 

 

5880 Pacific Center Blvd., San Diego, CA

 

92121

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code (858) 373-1600

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 (see General Instruction A.2. below):

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 240.14a-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 1.01.  Entry into a Material Definitive Agreement

InfoSonics Corporation (the “Company”) has a line of credit (the “Line of Credit”) with Wells Fargo HSBC Trade Bank, N.A. (“Wells Fargo”) that allows the Company to borrow up to a maximum of $25,000,000 and expires on October 1, 2006.  On September 29, 2006, the Company and Wells Fargo entered into an amendment to the Line of Credit (the “Amended Line of Credit”), which amended the expiration of the Line of Credit to November 1, 2006; no other terms of the Line of Credit were amended.

Item 9.01.  Financial Statements and Exhibits

(d)          Exhibits.

Exhibit No.

 

Description

10.1

 

Credit Agreement Amendment by and between InfoSonics Corporation and Wells Fargo HSBC Trade Bank, N.A. entered into on September 29, 2006.

 

*****

2




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.

 

InfoSonics Corporation

 

 

 

 

 

 

 

 

/s/ Jeffrey Klausner

 

 

 

 

 Chief Financial Officer

 

 

 

Dated:    October 5, 2006

 

 

 

3



EX-10.1 2 a06-20805_1ex10d1.htm EX-10

Exhibit 10.1

AMENDMENT TO CREDIT AGREEMENT

by and between

INFOSONICS CORPORATION, a Maryland corporation

and

WELLS FARGO HSBC TRADE BANK, N.A.

Dated as of

September 29, 2006

 

 

September 29, 2006

Mr. Jeff Klausner

InfoSonics Corporation

5880 Pacific Center Blvd.

San Diego, CA 92121

Dear Jeff:

This letter is to confirm that Wells Fargo HSBC Trade Bank, National Association (“Trade Bank”) has agreed to extend the maturity date of that certain credit accommodation granted by Trade Bank to InfoSonics Corporation, a Maryland corporation (“Borrower”) in the maximum principal amount of Twenty-Five Million Dollars ($25,000,000), pursuant to the terms and conditions of that certain Credit Agreement between Trade Bank and Borrower dated as of October 6, 2005 as amended from time to time (the “Agreement”).

The maturity date of said credit accommodation is hereby extended until November 1, 2006. Until such date, all terms and conditions of the Agreement, which pertain to said credit accommodation, shall remain in full force and effect, except as expressly modified hereby.  The promissory note dated as of October 6, 2005 executed by Borrower and payable to the order of Trade Bank which evidences said credit accommodation (the “Note”), shall be deemed modified as of the date this letter is acknowledged by Borrower to reflect the new maturity date set forth above. All other terms and conditions of the Note remain in full force and effect, without waiver or modification.

Borrower acknowledges that Trade Bank has not committed to make any renewal or further extension of the maturity date of the above-described credit accommodation beyond the new maturity date specified herein, and that any such renewal or further extension remains in the sole discretion of Trade Bank.  This letter constitutes the entire agreement between Trade Bank and Borrower with respect to the maturity date extension for the above-described credit accommodation, and supersedes all prior negotiations, discussions and correspondence concerning said extension.

Please acknowledge your acceptance of the terms and conditions contained herein by dating and signing one copy below and returning it to my attention at the above address on or before September 29, 2006.

Very truly yours,

 

 

 

 

 

WELLS FARGO HSBC TRADE BANK,

 

 

NATIONAL ASSOCIATION

 

 

 

 

 

 

 

 

By:

/s/ Naseem Aboudaher

 

 

Name:

Naseem Aboudaher

 

Title:

Assistant Vice President

 

 

Relationship Manager

 




 

Acknowledged and accepted as of September 29, 2006:

 

 

 

 

 

InfoSonics Corporation

 

 

 

 

 

 

 

 

By:

  /s/ Jeff Klausner

 

 

 

Name:

  Jeff Klausner

 

 

Title:

  Chief Financial Officer

 

 

 



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