Current Report Filing (8-k)
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2021-01-06 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):
January 6, 2021
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 Definitive Agreement.
On January 6, 2021, Global Technology, Inc. (“Global Technology”),
a wholly owned subsidiary of Applied Optoelectronics, Inc. entered
into a security agreement and a three-year credit line agreement,
totaling 150,000,000 RMB (collectively, the “Credit Line”) with
China Zheshang Bank Co., Ltd., in Ningbo City, China (the “Bank”).
The Credit Line terminates and replaces the credit facilities
between Global Technology and the Bank previously executed on June
21, 2019. Borrowing under the Credit Line will be used by Global
Technology for general corporate and capital investment
Global Technology may draw upon the Credit Line between January 6,
2021 and January 5, 2024 (the “Credit Period”). During the Credit
Period, Global Technology may request to draw upon the Credit Line
on an as-needed basis; however, draws under the Credit Line may
become due and repayable to the Bank at the Bank’s discretion due
to changes in Chinese government regulations and/or changes in
Global Technology’s financial and operational condition. Each draw
will bear interest equal to the Bank’s commercial banking interest
rate effective on the day of the applicable draw.
Global Technology’s obligations under the Credit Line will be
secured by real property owned by Global Technology and mortgaged
to the Bank under the terms of the Maximum Mortgage Contract. The
Credit Line contains rights and obligations, representations and
warranties, and events of default applicable to Global Technology
that are customary for agreements of this type.
The foregoing description of the Credit Line does not purport to be
a complete statement of the parties’ rights and obligations under
the agreements and is qualified in its entirety by reference to the
full text of the English translations of the Maximum Loan Contract
and Maximum Mortgage Contract which are attached as Exhibit 10.1
and 10.2 to this Current Report on Form 8-K and are incorporated by
||Termination of a
Material Definitive Agreement.
The information as set forth
in Item 1.01 of this Current Report on Form 8-K is
incorporated by reference into Item 1.02.
Creation of a Direct Financial Obligation or an Obligation under
an Off-Balance Sheet Arrangement of a Registrant.
The information as set forth in Item 1.01 of this Current Report on
Form 8-K is incorporated by reference into Item 2.03.
||Financial Statements and
||Translation of the Maximum Loan Contract,
between Global Technology, Inc. and China Zheshang Bank Co., Ltd,
dated January 6, 2021.
||Translation of the Maximum Mortgage
Contract, between Global Technology, Inc. and China Zheshang Bank
Co., Ltd, dated January 6, 2021.
||Cover Page Interactive File (the
cover page tags are embedded within the Inline XBRL
Pursuant to the requirements of
the Securities Exchange Act of 1934, the Company 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 Secretary
Date: January 11, 2021