Current Report Filing (8-k)
May 21 2020 - 4:17PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
May 14, 2020
Date of report (date of earliest event reported)
MusclePharm Corporation
(Exact name of registrant as specified in its charter)
Nevada
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000-53166
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77-0664193
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(State or other jurisdictions of incorporation
or organization)
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(Commission File
Number)
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(I.R.S. Employer Identification
No.)
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4400 Vanowen Street, Burbank, CA 91505
(Address of principal executive offices) (Zip
Code)
(800) 292-3909
(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 registrants
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))
Securities registered pursuant to Section 12(b) of the
Act:
Title
of each class
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Trading
Symbol(s)
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Name of
each exchange on which registered
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N/A
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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 a Material Definitive Agreement.
On
May 14, 2020, MusclePharm Corporation (the “Company”)
received an aggregate principal amount of $964,910 pursuant to the
borrowing arrangement (“Note”) with Harvest Small
Business Finance, LLC (“HSBF”) and agreed to pay the
principal amount plus interest at a 1% fixed interest rate per
year, on the unpaid principal balance. No payments are due on the
Note until November 16, 2020 (the “Deferment Period”).
However, interest will continue to accrue during the Deferment
Period. The Note will mature on May 16, 2022. The Note includes
forgiveness provisions in accordance with the requirements of the
Paycheck Protection Program, Section 1106 of the Coronavirus Aid,
Relief, and Economic Security Act (CARES Act).
The
Company will file a copy of the Note as an exhibit to its Quarterly
Report on Form 10-Q for the quarter ended June 30,
2020.
Item
2.03
Creation
of a Direct Financial Obligation or an Obligation under an
Off-Balance
Sheet Arrangement of a Registrant.
Reference
is made to the disclosure under Item 1.01 above, which is hereby
incorporated in this Item 2.03 by reference.
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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MUSCLEPHARM CORPORATION
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Date:
May 21, 2020
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By:
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/s/
Ryan Drexler
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Name:
Ryan DrexlerTitle: Chief Executive Officer
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Muscle Pharm (CE) (USOTC:MSLP)
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