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)
November 28, 2018
 

PHOTRONICS, INC.
(Exact name of registrant as specified in its charter)

Connecticut
 0-15451
06-0854886
(State or Other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)

15 Secor Road, Brookfield, CT
 
06804
(Address of principal executive offices)
 
(Zip Code)

Registrant's Telephone Number, including area code
(203) 775-9000

 (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))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.



Item 1.01
Entry into Material Definitive Agreement.

Xiamen American Japan Photronics Mask Co., Ltd. (“PDMCX”), an indirect majority owned joint venture subsidiary of Photronics, Inc., entered into a twenty-five million dollar ($25,000,000) working capital loan agreement, effective as of November 7, 2018 (the “Working Capital Loan”). PDMCX will use the Working Capital Loan for general financing purposes including for the payment of import and VAT related taxes. The term of the Working Capital Loan will not exceed three years and no guarantees were required as part of the Working Capital Loan.


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 hereunto duly authorized.

 
PHOTRONICS, INC.
 
(Registrant)
       
 
By:
/s/ Richelle E. Burr
   
Name:
Richelle E. Burr
   
Title:
Vice President, General Counsel and Secretary
     

Date: November 28, 2018