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): March 31, 2011
SATCON TECHNOLOGY CORPORATION
(Exact Name of Registrant as Specified in Charter)
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Delaware |
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1-11512 |
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04-2857552 |
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(State or Other Jurisdiction |
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(Commission |
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(I.R.S. Employer |
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of Incorporation) |
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File Number) |
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Identification No.) |
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27 Drydock Avenue, Boston, Massachusetts |
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02210-2377 |
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(Address of Principal Executive Offices) |
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(Zip Code) |
(617) 897-2400
(Registrant’s telephone number, including area code)
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):
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))
Item 1.01. Entry into a Material Definitive Agreement.
On March 31, 2011, the Company entered into a Ninth Loan Modification Agreement to its existing Loan Agreement (the “SVB Loan Agreement”) with Silicon Valley Bank that increases the maximum amount available to be borrowed under the SVB Loan Agreement from $15,000,000 to $30,000,000 on a formula basis. This increase will be in effect through May 31, 2011.
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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SATCON TECHNOLOGY CORPORATION | |
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Date: April 5, 2011 |
By: |
/s/ John W. Peacock |
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John W. Peacock |
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Chief Accounting Officer |