0000950123-11-036001.txt : 20110415 0000950123-11-036001.hdr.sgml : 20110415 20110415134458 ACCESSION NUMBER: 0000950123-11-036001 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110412 ITEM INFORMATION: Entry into a Material Definitive Agreement FILED AS OF DATE: 20110415 DATE AS OF CHANGE: 20110415 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TANDY BRANDS ACCESSORIES INC CENTRAL INDEX KEY: 0000869487 STANDARD INDUSTRIAL CLASSIFICATION: APPAREL & OTHER FINISHED PRODS OF FABRICS & SIMILAR MATERIAL [2300] IRS NUMBER: 752349915 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-18927 FILM NUMBER: 11761919 BUSINESS ADDRESS: STREET 1: 690 E LAMAR BLVD STE 200 CITY: ARLINGTON STATE: TX ZIP: 76011 BUSINESS PHONE: 8172654113 MAIL ADDRESS: STREET 1: 690 E LAMAR BLVD CITY: ARLINGTON STATE: TX ZIP: 76011 8-K 1 c15606e8vk.htm FORM 8-K 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): April 12, 2011

TANDY BRANDS ACCESSORIES, INC.
(Exact name of registrant as specified in its charter)
         
Delaware   0-18927   75-2349915
(State or other Jurisdiction of Incorporation)   (Commission File Number)   (IRS Employer Identification No.)
     
3631 West Davis, Suite A
Dallas, Texas
   75211
(Address of Principal Executive Offices)   (Zip Code)

Registrant’s telephone number, including area code: (214) 519-5200
 
N/A
(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 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))

 
 

 

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Item 1.01 Entry Into a Material Definitive Agreement.

As of February 12, 2008, Tandy Brands Accessories, Inc. (the “Company”) entered into a credit agreement with Comerica Bank (the “Lender”) providing terms and conditions governing certain loans and other credit accommodations extended by the Lender to the Company (together with all exhibits and schedules, the “Credit Agreement”).

As of March 31, 2011, the Company and the Lender entered into Amendment No. 4 to Credit Agreement (the "Amendment”) which, among other things, (i) adjusts the tangible net worth financial covenant; (ii) modifies the pricing and timing of payments; and (iii) adjusts the borrowing base. Borrowings under the Credit Agreement, as amended by the Amendment, will bear interest at the daily adjusting one month LIBOR rate plus 4.5%, or, if such rate is not available under the terms of the Master Revolving Note, as amended, the Lender’s prime rate plus 2.0%. The parties executed the Amendment on April 12, 2011, effective as of March 31, 2011.

 

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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.

TANDY BRANDS ACCESSORIES, INC.

Date: April 14, 2011

By: /s/ N. Roderick McGeachy, III                
N. Roderick McGeachy, III
President and Chief Executive Officer

 

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