advancedphotonix_8k.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 27,
2010 |
| |
| Advanced Photonix, Inc. |
| (Exact
Name of Registrant as specified in its
Charter) |
| Delaware |
1-11056 |
33-0325826 |
| (State
or other jurisdiction |
(Commission |
(IRS
Employer |
| of incorporation) |
File
Number) |
Identification No.) |
| |
| 2925 Boardwalk, Ann Arbor,
Michigan |
48104 |
|
| (Address of principal executive
offices) |
(Zip
Code) |
|
|
Registrant's telephone number,
including area code:
|
(734)
864-5600 |
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):
[ ] 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 27, 2010,
Advanced Photonix, Inc. (the “Company”)
executed a Third Amendment to Loan Agreement (the “Third Amendment”) with The
PrivateBank and Trust Company (the “Bank”),
effective as of August 27, 2010, which amended that certain Loan Agreement (the
“Agreement”), dated September 25, 2008, between the
Company and the Bank, as amended by that certain First Amendment to Loan
Agreement dated May 29, 2009 (the “First Amendment”) and that certain Second Amendment to Loan Agreement dated June 25,
2010 (the “Second Amendment”).
Among other things,
the Third Amendment (1) increases the amount of proceeds from equity issuances
that the Company may use to make payments in respect of the Company’s existing
indebtedness owed to Mr. Risser, a director of the Company and its CFO and Mr.
Williamson, the Company’s CTO, in connection with the Company’s acquisition of
Messrs. Risser’s and Williamson’s equity interests in Picometrix, Inc. in 2005
(the “Picometrix Notes”) and (2) extends the deadline set forth
in the Second Amendment for amending the Picometrix Notes from August 25, 2010
to December 1, 2010.
The description of
the Amendment is qualified in its entirety by reference to the copy of the
document filed herewith as Exhibit 10.1, which is incorporated herein by
reference.
Item 9.01 - Financial Statements and
Exhibits.
(d)
Exhibits
| Exhibit |
|
|
| Number |
|
Exhibit |
| 10.1 |
|
Third Amendment dated August 27,
2010 to the Loan Agreement between Advanced Photonix, Inc. and The
PrivateBank and Trust Company |
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.
| |
ADVANCED PHOTONIX,
INC. |
|
|
|
|
|
|
| |
By: |
/s/ Richard D. Kurtz
|
|
|
|
|
Richard Kurtz, Chief Executive Officer |
|
Dated: August 27,
2010
EXHIBIT INDEX
| Exhibit |
|
|
| Number |
|
Exhibit |
| 10.1 |
|
Third Amendment dated August 27,
2010 to the Loan Agreement between Advanced Photonix, Inc. and The
PrivateBank and Trust Company |