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EX-10.1 - AMENDMENT NUMBER THREE TO CREDIT AGREEMENT - DAEGIS INC.exhibit10-1.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):
August 5, 2013

Daegis Inc.

(Exact name of registrant as specified in its charter)

Delaware 001-11807 94-2710559
(State or other jurisdiction (Commission File No.) (I.R.S. Employer
of incorporation) Identification No.)

1420 Rocky Ridge Drive
Roseville, California 95661
(Address of principal executive offices)

Registrant’s telephone number, including area code:
(916) 865-3300

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):

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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

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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 July 31, 2013, Daegis Inc. (the “Company” or “Daegis”) entered into an Amendment No. 3 to its Loan and Security Agreement dated as of June 30, 2011, by and among the Company, the Guarantors thereto, and Wells Fargo Capital Finance, LLC. Amendment No. 3 decreased the total maximum credit line to $18.2 million, converted $3 million of outstanding principal balance from the revolver to the Term A Loan, converted $3 million of outstanding principal balance from the Term B Loan to the Term A Loan, and modified certain financial covenants.

The foregoing is intended only to be a summary of Amendment No. 3 and is qualified by reference to Amendment No. 3 which is filed as Exhibit 10.1 hereto.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

(a) The disclosure in Item 1.01 hereof is incorporated by reference into this Item 2.03 in its entirety.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibit
             
  10.1   Amendment Number Three to Credit Agreement, dated as of July 31, 2013



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.

Date: August 5, 2013

By: /s/ Susan K. Conner  
     Susan K. Conner
     Chief Financial Officer