- Current report filing (8-K)
December 22 2008 - 4:35PM
Edgar (US Regulatory)
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):
December 19, 2008
CROCS,
INC.
(Exact name of Registrant
as specified in its charter)
Delaware
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0-51754
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20-2164234
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(State or other
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(Commission
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(I.R.S. Employer
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jurisdiction
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File Number)
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Identification
No.)
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of
incorporation)
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6328
Monarch Park Place
Niwot, Colorado
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80503
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(Address of principal
executive offices)
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(Zip Code)
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Registrants
telephone number, including area code:
(303) 848-7000
Not
Applicable
(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:
o
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Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
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o
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Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)
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o
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Pre-commencement communications pursuant to
Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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o
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Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item
1.01. Entry into a Material
Definitive Agreement
On May 8,
2007, Crocs, Inc. (the Company) entered into a credit agreement (Revolving
Credit Facility) with Union Bank of California, N.A. (the bank). On December 19, 2008, the Company
entered into a seventh amendment of the Revolving Credit Facility. The seventh
amendment modifies the Revolving Credit Facility by extending the maturity date
to February 16, 2009. The seventh
amendment, among other things, limits borrowings to $22.4 million, modifies the
interest rate on the loan to 9% above the banks reference rate and requires
the Company to perform certain covenants and pay certain fees.
In connection with
the seventh amendment, the Company entered into an Intellectual Property
Security Agreement (the IP Security Agreement) in favor of the bank. Pursuant to the IP Security Agreement, the
Company pledged to the bank substantially all of the Companys intellectual
property. The IP Security Agreement
specifies that the collateral includes all after-acquired assets, damage claims,
license fees, royalties and all proceeds and products generated from these
assets.
SIGNATURES
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.
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CROCS, INC.
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Date:
December 22, 2008
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By:
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/s/ Russell C.
Hammer
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Russell C.
Hammer,
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Chief
Financial Officer, Senior Vice
President - Finance and Treasurer
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2
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