Attached files
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| EX-10.1 - Inotiv, Inc. | v204501_ex10-1.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): November 29, 2010
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BIOANALYTICAL
SYSTEMS, INC.
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(Exact
name of registrant as specified in its
charter)
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Indiana
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0-23357
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35-1345024
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(State
or other
jurisdiction
of
incorporation
or
organization)
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(Commission
File Number)
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(I.R.S.
Employer Identification
No.)
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2701
KENT AVENUE
WEST
LAFAYETTE, INDIANA
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47906-1382
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant's
telephone number, including area code: (765) 463-4527
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:
¨ 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(17CFR240.14a-12)
¨ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange
Act(17CFR240.14d-2(b))
¨ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange
Act(17CFR240.13e-4(c))
Item
1.01 Entry in a Material Definitive Agreement
On November 29, 2010, Bioanalytical
Systems, Inc. (the "Company") and Regions Bank (“Regions”) executed a Fourth
Amendment (“Amendment”) to its loan agreement with Regions. Regions
agreed to accept a $500,000 principal payment on a note with $1.1 million of
principal maturing on December 18, 2010 and a $500,000 principal payment on
another note with $1.3 million of principal maturing on February 11,
2011. The principal payments are to be made on or
before December 18, 2010 and February 11, 2011,
respectively. The unpaid principal on the notes will be incorporated
into a replacement note maturing in November, 2012. The replacement
note will bear interest at LIBOR plus 300 basis points (minimum of 4.5%) with
monthly principal amortization. Regions also agreed to amend the loan
covenants on all of the Company’s debt with Regions. The Amendment
revises the Fixed Charge Coverage and Debt-to-Equity covenants and removes
limitations on the Company’s purchase of fixed assets, so long as the Company
complies with the revised Fixed Charge Coverage and Debt-to-Equity ratio
requirements.
The foregoing discussion of the
Amendment is entirely qualified by reference to the text of the Amendment, which
is attached as Exhibit 10.1, and incorporated herein by this
reference.
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Item
9.01.
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Exhibits.
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(d)
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Exhibits
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10.1
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Fourth
Amendment to Loan Agreement between Bioanalytical Systems, Inc. and
Regions Bank, executed November 29,
2010.
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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.
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BIOANALYTICAL
SYSTEMS, INC.
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Date:
December 2, 2010
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By:
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/s/ Michael R. Cox
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Michael
R. Cox
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VP-Finance
and Administration
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Exhibit
Index
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Exhibit No.
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Description
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10.1
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Fourth
Amendment to Loan Agreement between Bioanalytical Systems, Inc. and
Regions Bank, executed November 29,
2010.
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