Attached files

file filename
EX-10.73 - SECURITY AGREEMENT - Mecklermedia Corpmeckler_ex1073.htm
EX-10.72 - SECURED PROMISSORY NOTE - Mecklermedia Corpmeckler_ex1072.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) March 16, 2015

 

MECKLERMEDIA CORPORATION

(Exact name of registrant as specified in its charter)

 

Delaware

(State or other jurisdiction of incorporation)

 

000-26393   06-1542480
(Commission File Number)   (IRS Employer ID Number)

 

50 Washington Street, Suite 912, Norwalk, CT 06854

(Address of principal executive offices) (Zip Code)

 

Registrant's telephone number, including area code (203) 662-2800

__________________

 

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:

 

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

 

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

 

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

 

oPre-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 16, 2015, Mecklermedia Corporation (the “Company”) and its wholly owned subsidiaries, Mecklermedia.com Subsidiary Inc. and Inside Network, Inc., entered into a Secured Promissory Note and a Security Agreement with Drew Lane Holdings, LLC, a Delaware limited liability company. Pursuant to the promissory note, Drew Lane Holdings agreed to lend to the Company up to $500,000 in one or more advances. Interest accrues on the outstanding amount of all advances at an annual rate of 8.00%. Interest only is due and payable on the last day of each month beginning April 30, 2015, and continuing on the last day of each month thereafter; and one final installment of all unpaid principal and all accrued but unpaid interest will be due and payable on March 31, 2018. The Company may prepay the note without prepayment penalty or premium.

 

The note will immediately become due and payable, at the option of Drew Lane Holdings, upon the occurrence of an event of default, including the failure to pay any amount payable under the note, an uncured failure to observe or perform any of the provisions under the note, the Company’s uncured default in the performance of its obligations under the Security Agreement, or specified events in respect of the Company’s dissolution, liquidation, or bankruptcy.

 

To induce Drew Lane Holdings to make the loan, and to secure the Company’s obligations under the promissory note, the Company and its subsidiaries granted Drew Lane Holdings a security interest in the Company’s assets.

 

The description of the transactions described in this Item 1.01 does not purport to be complete and is qualified in its entirety by the terms of the Secured Promissory Note and Security Agreement.

 

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

 

The disclosure provided under Item 1.01 above is hereby incorporated by reference.

 

Item 9.01. Financial Statements and Exhibits.

 

  (d) Exhibits
     
  Exhibit No.   Description
       
  10.72   Secured Promissory Note dated as of March 16, 2015, by Mecklermedia Corporation, Mecklermedia.com Subsidiary Inc., Inside Network, Inc. made payable to Drew Lane Holdings, LLC.
       
  10.73   Security Agreement dated as of March 16, 2015, by and among Mecklermedia Corporation, Mecklermedia.com Subsidiary Inc., Inside Network, Inc. and Drew Lane Holdings, LLC.
       

 

 

 
 

 

 

SIGNATURE

 

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 thereunto duly authorized.

 

 

 

  MECKLERMEDIA CORPORATION
   
Date: March 18, 2015 By:  /s/ Alan M. Meckler
    Alan M. Meckler
Chairman and Chief Executive Officer