Attached files
| file | filename |
|---|---|
| EX-10.1 - LOAN CONFIRMATION - ASPIRITY HOLDINGS LLC | twincities_8k-ex1001.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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) | May 12, 2014 |
| TWIN CITIES POWER HOLDINGS, LLC |
| (Exact Name of Registrant as Specified in Charter) |
| Minnesota | 333-179460 | 27-1658449 |
|
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
| 16233 Kenyon Ave., Suite 210, Lakeville, Minnesota | 55044 |
| (Address of Principal Executive Offices) | (Zip Code) |
| Registrant’s telephone number, including area code | (952) 241-3103 |
| n/a |
| (Former Name or Former Address, if Changed Since Last Report) |
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 communication 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 May 12, 2014, Twin Cities Power Holdings, LLC (the “Company”) entered into a banking relationship with Royal Bank of Canada (“RBC”), through its RBC Wealth Management Banking segment, wherein RBC has agreed to provide the Company with an uncommitted line of credit collateralized by the Company’s investment account in the amount of $700,000 (the “Facility”). The interest rate on the Facility is 2.40%, and availability of funds may be increased or decreased by RBC in its sole and absolute discretion. RBC is not committed or otherwise obligated to make any extensions of credit under the Facility, and repayment of principal under the Facility may subject the Company to break funding costs.
The foregoing description of the Facility is qualified in its entirety by reference to the full text of the Facility, which is attached to this Current Report on Form 8-K as Exhibit 10.1 and is incorporated herein by reference.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
The information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
| 10.1 | Loan Confirmation from Royal Bank of Canada to Twin Cities Power Holdings, LLC, dated May 12, 2014, and related correspondence. |
| 2 |
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: May 28, 2014 |
By |
/s/ Wiley H. Sharp III |
| Wiley H. Sharp III | ||
| Its | Vice President – Finance and Chief Financial Officer | |
| 3 |