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
April 11, 2016
Date of Report (Date of earliest event reported)
SPEED COMMERCE, INC.
(Exact name of registrant as specified in its charter)
|
Minnesota |
|
000-22982 |
|
41-1704319 |
|
(State of Incorporation) |
|
(Commission File Number) |
|
(IRS Employer Identification Number) |
1303 E. Arapaho Road,
Suite 200
Richardson, TX 75081
(Address of principal executive offices) (Zip Code)
(866) 377-3331
(Registrant’s telephone number, including area code)
_________________________________________________
(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:
|
☐ |
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 (17 CFR 240.14a-12) |
|
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
TABLE OF CONTENTS
Item 7.01 Regulation FD Disclosure
SIGNATURES
Item 7.01 Regulation FD Disclosure.
On April 11, 2016, Speed Commerce, Inc., together with certain of its subsidiaries (collectively, the “Company”), received a Protective Advance in the amount of $1 million pursuant to Section 9.9 of that certain Amended and Restated Credit and Guaranty Agreement by and among the Company and Garrison Loan Agency Services LLC, as Administrative Agent and Collateral Agent, and the lenders from time to time party thereto (collectively, the “Lenders”), dated as of November 21, 2014, and that was attached as Exhibit 10.1 to that certain current report on Form 8-K filed by the Company on November 26, 2014, as amended (the “Credit Agreement”). Capitalized terms utilized herein are defined in the Credit Agreement.
As previously disclosed, the Company is in default of the terms of the Credit Agreement and it is unable to cure the existing defaults under its Credit Agreement. Further, the Company anticipates that the Lenders will exercise their rights and remedies under the Credit Agreement, including, but not limited to, a foreclosure on the Company’s assets, in the immediate future.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
Date: April 12, 2016 |
SPEED COMMERCE, INC. |
| |
|
|
|
|
|
|
|
By: |
/s/ Ryan F. Urness |
|
|
|
Name: |
Ryan F. Urness |
|
|
|
Title: |
Secretary and General Counsel |
|