SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 3, 2004
TRANS-LUX CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 1-2257 13-1394750
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
110 Richards Avenue, Norwalk, CT 06856-5090
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (203) 853-4321
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(Former name or former address, if changed since last report.)
Item 5. Other Events
On June 3, 2004 Trans-Lux Corporation entered into a sale/leaseback of its
Norwalk, Connecticut headquarters to a third party investor. The sale price was
$8,080,000, of which $5,500,000 was paid at closing and $2,580,000 is payable
four years from closing. Trans-Lux leased back the entire property for four
years, after which a three-year lease for part of the building will take effect.
The balance of the purchase price is secured by a purchase money mortgage
subordinate to a $3,500,000 first mortgage in favor of the purchaser's lender.
In conjunction with the sale, Trans-Lux prepaid $4,900,000 of its long-term debt
with its senior lenders. The transaction will result in a significant gain,
which will be recognized over the term of the leases. The financial results of
the transaction will be disclosed in the quarter ending June 30, 2004.
Item 7. Financial Statements and Exhibits
(c) Exhibits.
14(a) Second Amendment to the Commercial Loan and Security Agreement
among Trans-Lux Corporation, People's Bank, The Bank of New
York and People's Bank, as agent.
14(b) Four Year Lease Agreement between Trans-Lux Corporation and 110
Richards Avenue, LLC.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
TRANS-LUX CORPORATION
By: /s/ Angela D. Toppi
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Angela D. Toppi
Executive Vice President
and Chief Financial Officer
Date: June 10, 2004