Current Report Filing (8-k)
September 14 2017 - 4:18PM
Edgar (US Regulatory)
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):
September
14, 2017 (September 13, 2017)
Majesco
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(Exact Name of Registrant as Specified in its Charter)
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California
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001-37466
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77-0309142
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(State or Other Jurisdiction
of Incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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412 Mount Kemble Ave, Suite 110C, Morristown, NJ 07960
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(Address of Principal Executive Offices)
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Registrant's telephone number, including area code
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(973) 461-5200
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N/A
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(Former Name or Former Address, if Changed Since Last Report)
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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
x
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 A MATERIAL DEFINITIVE AGREEMENT.
On September 13, 2017, Majesco’s
subsidiary, Majesco Software and Solutions India Pvt. Ltd. (“MSSIPL”) entered into an addendum facility letter (the
“2017 Addendum”) to its addendum facility letter dated September 27, 2016 with respect to its secured Pre Shipment
in Foreign Currency and Post Shipment in Foreign Currency (“PCFC”) facility with Yes Bank dated June 30, 2015. The
2017 Addendum extends the maturity date of the PCFC facility to May 22, 2018 and reduces the maximum borrowing limit from 300 million
Indian rupees to 130 million Indian rupees, or approximately $2,028 based upon the exchange rate on September 13, 2017.
In addition, on September 13, 2017 MSSIPL
entered into a facility letter (the “2017 Facility Letter”) with respect to the PCFC facility with Yes Bank pursuant
to which the interest rate of the PCFC facility was amended from LIBOR plus 150 basis points to LIBOR plus 150 basis points plus
2%. The interest rate on the PCFC facility is determined at the time of each advance.
The foregoing description is a summary only, does not purport
to set forth the complete terms of the 2017 Addendum and 2017 Facility Letter, and is qualified in its entirety by reference to
the 2017 Addendum and 2017 Facility Letter filed as Exhibits 10.1 and 10.2, respectively, each of which are hereby incorporated
herein by reference.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits.
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.
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Majesco
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By:
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/s/ Ketan Mehta
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Ketan Mehta, President and Chief Executive Officer
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Date: September 14, 2017
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