-----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, WTHQDqD8PM9TdyxqoO4UwUyF9hokL706ju+8UqHLIOtxw1ddHOi6cFP9vQpLJBc3 MWOyRr75bwKzMm3JlQagGQ== 0000950135-06-002195.txt : 20060406 0000950135-06-002195.hdr.sgml : 20060406 20060406152058 ACCESSION NUMBER: 0000950135-06-002195 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20060331 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: 20060406 DATE AS OF CHANGE: 20060406 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BTU INTERNATIONAL INC CENTRAL INDEX KEY: 0000840883 STANDARD INDUSTRIAL CLASSIFICATION: SPECIAL INDUSTRY MACHINERY, NEC [3559] IRS NUMBER: 042781248 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-17297 FILM NUMBER: 06744982 BUSINESS ADDRESS: STREET 1: 23 ESQUIRE ROAD CITY: NORTH BILLERICA STATE: MA ZIP: 01862 BUSINESS PHONE: 5086674111 MAIL ADDRESS: STREET 1: 23 ESQUIRE ROAD CITY: NORTH BILLERICA STATE: MA ZIP: 01862 FORMER COMPANY: FORMER CONFORMED NAME: BTU CORP DATE OF NAME CHANGE: 19881109 8-K 1 b60235bue8vk.htm BTU INTERNATIONAL, INC. e8vk
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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): March 31, 2006
 
     
BTU INTERNATIONAL, INC.
(Exact name of registrant as specified in its chapter)
 
         
Delaware   000-17297   04-2781248
(State or other jurisdiction
of incorporation) 		  (Commission File Number)   (IRS Employer
Identification No.)
         
     
23 Esquire Road, N. Billerica, Massachusetts   01862
(Address of principal executive offices)   (Zip Code)
     
Registrant’s telephone number, including area code: (978) 667-4111
 
     
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:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 220.425)
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))
 
 

 

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ITEM 1.01.      Entry into a Material Definitive Agreement.
ITEM 2.03.      Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.
SIGNATURES

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ITEM 1.01.      Entry into a Material Definitive Agreement.
     On March 31, 2006, BTU International, Inc. (the “Company”) executed a commitment letter for a commercial mortgage facility (the “mortgage facility”) with Salem Five Cents Savings Bank (“Salem Five”). The amount of the mortgage facility is $10,000,000. As of December 23, 2006, the interest rate will be 6.84%. The maturity date is December 23, 2015.
ITEM 2.03.      Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.
(a)(1)      On March 31, 2006, as described above under Item 1.01, the Company entered into a mortgage facility with Salem Five.
(a)(2)      The amount of the credit facility is $10,000,000, which may not exceed 80% loan-to-value based on an appraisal acceptable to Salem Five. Principal and interest are due and payable monthly, based on a 20-year mortgage-style amortization schedule. At the maturity date, the remaining balance of the mortgage facility will be due and payable in full. If the mortgage facility is pre-paid prior to maturity, then a pre-payment fee will be due to Salem Five. This pre-payment fee will be calculated as a percentage of the then outstanding balance.
(a)(3)      Salem Five has a first mortgage, security interest and collateral assignment of leases/rents for the real estate and all improvements located at the Company’s headquarters, 23 Esquire Road in North Billerica, Massachusetts. Salem Five also has a first lien on all fixtures, contract rights and other personal property used in connection with the property mentioned in the foregoing sentence.

 

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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.
         
  BTU INTERNATIONAL, INC.
 		  
Date: April 6, 2006  By:   /s/ Thomas P. Kealy    
    Name:   Thomas P. Kealy   
    Title:   Vice President, Corporate Controller and Chief Accounting Officer   
 

 

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