Current Report Filing (8-k)
0001158114 false 0001158114 2020-10-07
2020-10-07 iso4217:USD xbrli:shares iso4217:USD xbrli:shares
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of
Date of Report (Date of earliest event reported):
October 7, 2020
Applied Optoelectronics, Inc.
(Exact name of Registrant as specified in its charter)
13139 Jess Pirtle Blvd.
(address of principal executive offices and zip code)
(Registrant’s telephone number, including area code)
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:
communications pursuant to Rule 425 under the Securities Act (17
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
Securities registered pursuant to Section 12(b) of the
each exchange on which registered
Common Stock, Par value $0.001
NASDAQ Global Market
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.
||Entry into a Material
On October 7, 2020, Prime World International Holdings, Ltd.
(“Prime World”), a wholly owned subsidiary of Applied
Optoelectronics, Inc., entered into a revolving credit facility
totaling 100,000,000 NTD (the “NT$100M Credit Line”) and 1,000,000
USD (the “US$1M Credit Line”) with Taishin International Bank in
Taiwan (the “Bank”). Borrowing under the NT$100M Credit Line will
be used for short-term working capital; borrowing under the US$1M
Credit Line will be strictly used for spot transactions in the
foreign exchange market. The NT$100M Credit Line and US$1M Credit
Line are collectively referred to as the “Credit Facility”.
Prime World may draw upon the Credit Facility from October 7, 2020
through January 31, 2021. The term of each draw under the NT$100M
Credit Line shall be either 90 or 120 days and will bear interest
at a rate of 2.15% for each draw; borrowings under the US$1M Credit
Line will bear interest equal to the Bank’s foreign exchange rate
effective on the day of the applicable draw. At the end of the draw
term Prime World will make payment for all principal and accrued
Prime World’s obligations under the Credit Facility will be secured
by a promissory note between Prime World and the Bank. The
agreements for the Credit Facility contain representations and
warranties, and events of default applicable to Prime World that
are customary for agreements of this type.
The foregoing description of the Credit Facility does not purport
to be a complete statement of the parties’ rights and obligations
under the Credit Facility and is qualified in its entirety by
reference to the translation of the full text of the Credit
Facility Agreement and Notice of Credit Line Approval, which are
attached as Exhibit 10.1 through 10.2 to this Current Report on
Form 8-K and are incorporated by reference herein.
Creation of a Direct Financial Obligation or an Obligation under
an Off-Balance Sheet Arrangement of a Registrant.
The information contained in Item 1.01 of this Current Report on
Form 8-K with respect to the Amendment is incorporated by reference
herein and made a part hereof.
||Financial Statements and
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
||/s/ DAVID C. KUO
David C. Kuo
General Counsel and Vice President
Date: October 13, 2020