-----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, JRjn4pKYnbO1eFNT8YMxMllsuyJ5J+dxaIMR+BtDJg1HCPMhRaWvfRcgsom4FDLe R4YColPT01DvQWNRdmiAqw== 0000049728-02-000025.txt : 20021025 0000049728-02-000025.hdr.sgml : 20021025 20021025131321 ACCESSION NUMBER: 0000049728-02-000025 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20021025 ITEM INFORMATION: Other events FILED AS OF DATE: 20021025 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IEC ELECTRONICS CORP CENTRAL INDEX KEY: 0000049728 STANDARD INDUSTRIAL CLASSIFICATION: PRINTED CIRCUIT BOARDS [3672] IRS NUMBER: 133458955 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-06508 FILM NUMBER: 02798351 BUSINESS ADDRESS: STREET 1: 105 NORTON ST CITY: NEWARK STATE: NY ZIP: 14513 BUSINESS PHONE: 3153317742 MAIL ADDRESS: STREET 1: PO BOX 271 CITY: NEWARK STATE: NY ZIP: 14513 FORMER COMPANY: FORMER CONFORMED NAME: INTERCONTINENTAL ELECTRONICS CORP DATE OF NAME CHANGE: 19730601 8-K 1 iec8k102102.txt OTHER EVENTS AND REG. FD DISCLOSURE 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) - October 25, 2002 IEC Electronics Corp. (Exact name of Registrant as Specified in its Charter) Delaware (State or other jurisdiction of Incorporation) 0-6508 13-3458955 (Commission File Number) (IRS Employer Identification No.) 105 Norton Street, Newark, New York 14513 (Address of Principal Executive Offices) (315) 331-7742 (Registrant's Telephone Number, including Area Code) Page 1 of 2 Item 5. Other Events and Regulation FD Disclosure ------------------------------------------ Effective as of October 1, 2002, the Company and its lenders, HSBC Bank USA and General Electric Capital Corporation, entered into Amendment No. 10 (the "Amendment") to the Loan and Security Agreement originally dated as of December 28, 1999 (the "Agreement). Pursuant to the Amendment, the term of the Agreement was extended through December 31, 2002 from the present expiration date of September 30, 2002. In addition, pursuant to the Amendment, the interest rate on the revolving credit facility continues at prime rate plus 3.50 percent, and the interest rate on the term loan continues at prime rate plus 4.00 percent. Under the Amendment, the revolving credit facility component, based on eligibility criteria for accounts receivable, was reduced from $2 million to $1.75 million. The Amendment also contains certain covenants relating to the Company's property in Edinburg, Texas and to the repayment of the COmpany's indebtedness in its entirety by December 31, 2002 through a debt or equity refinancing or by the sale of the Company's assets or business. The Company is currently in discussions with other lending institutions with respect to a new credit agreement and a refinancing of all of the Company's indebtedness to its present lenders. While the Company believes it will be successful, there can be no assurance that it will meet the December 31, 2002 expiration date. 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. IEC Electronics Corp. --------------------- (Registrant) Date: October 25, 2002 By:/s/ W. Barry Gilbert ----------------------- W. Barry Gilbert Chief Executive Officer & Chairman of the Board -----END PRIVACY-ENHANCED MESSAGE-----