0000020232-13-000053.txt : 20130808 0000020232-13-000053.hdr.sgml : 20130808 20130808083439 ACCESSION NUMBER: 0000020232-13-000053 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20130805 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant FILED AS OF DATE: 20130808 DATE AS OF CHANGE: 20130808 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ChyronHego Corp CENTRAL INDEX KEY: 0000020232 STANDARD INDUSTRIAL CLASSIFICATION: PHOTOGRAPHIC EQUIPMENT & SUPPLIES [3861] IRS NUMBER: 112117385 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09014 FILM NUMBER: 131020056 BUSINESS ADDRESS: STREET 1: 5 HUB DR CITY: MELVILLE STATE: NY ZIP: 11747 BUSINESS PHONE: 6318452000 MAIL ADDRESS: STREET 1: 5 HUB DRIVE CITY: MELVILLE STATE: NY ZIP: 11747 FORMER COMPANY: FORMER CONFORMED NAME: CHYRON CORP DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: COMPUTER EXCHANGE INC DATE OF NAME CHANGE: 19760114 8-K 1 k8080813svb.htm FORM 8-K k8080813svb.htm
 
 
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): August 5, 2013


CHYRONHEGO CORPORATION
(Exact Name of Registrant as Specified in its Charter)

New York
001-09014
11-2117385
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)
(I.R.S. Employer
Identification No.)

5 Hub Drive
  
Melville, New York
11747
(Address of Principal Executive Offices)
(Zip Code)

 
Registrant's telephone number, including area code: (631) 845-2000



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))


 
 
 

Item 1.01   Entry into a Material Definitive Agreement.
 
On August 5, 2013, ChyronHego Corporation (the "Company") entered into an Eighth Loan Modification and Waiver Agreement (the "Eighth Loan Modification Agreement") with Silicon Valley Bank ("SVB"). The Eighth Loan Modification Agreement modifies the Company's Loan and Security Agreement with SVB, dated June 19, 2008, as previously modified on April 16, 2009 (the "First Loan Modification Agreement"), on June 18, 2009 (the "Second Loan Modification Agreement"), on March 24, 2010 (the "Third Loan Modification Agreement"), on March 24, 2011 (the "Fourth Loan Modification Agreement"), on December 28, 2011 (the "Fifth Loan Modification Agreement"), on August 13, 2012 (the "Sixth Loan Modification Agreement") and on March 1, 2013 (the "Seventh Loan Modification Agreement") (collectively, the "Loan Agreement") to (i) extend the term of the Revolving Line of Credit Maturity Date from August 12, 2013 to October 12, 2013 and (ii) waive the Company's non-compliance with (a) the Adjusted Quick ratio financial covenant for the compliance periods ended May 31, 2013 and June 30, 2013; and (b) the Maximum EBITDA Loss financial covenant for the quarterly compliance period ended June 30, 2013.

The Company intends to file the Eighth Loan Modification and Waiver Agreement in connection with its Quarterly Report on Form 10-Q for the quarter ended June 30, 2013.
 

Item 2.03   Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet
                  Arrangement of a Registrant.
 
(a) The information disclosed above in Item 1.01 "Entry into a Material Definitive Agreement" is hereby incorporated herein by reference.
 
 
 
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SIGNATURES
 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
 

 
CHYRONHEGO CORPORATION
 
 
 
By:
/s/ Jerry Kieliszak
 
Name:
Jerry Kieliszak
 
Title:
Senior Vice President and
   
Chief Financial Officer



 
Date: August 8, 2013 
 

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