Current Report Filing (8-k)
July 02 2019 - 11:36AM
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
Date
of Report (Date of earliest event reported):
July 1, 2019
FTE
NETWORKS, INC.
(Exact
name of registrant as specified in its charter)
Nevada
|
|
001-38322
|
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81-0438093
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(State
or other jurisdiction
of
incorporation)
|
|
(Commission
File
Number)
|
|
(I.R.S.
Employer
Identification
No.)
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237
West 35
th
Street, Suite 806
New
York, NY
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|
10001
|
(Address
of principal executive offices)
|
|
(Zip
Code)
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877-878-8136
(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:
[ ]
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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[ ]
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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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[ ]
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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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Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
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Trading
Symbol
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Name
of each exchange on which registered
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Common
stock ($0.001 par value)
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FTNW
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NYSE
American
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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
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Entry
into a Material Definitive Agreement
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On
July 1, 2019, FTE Networks, Inc. (“
FTE
”) and certain of its wholly-owned subsidiaries (collectively,
the “
Company
”) obtained and entered into a Consent and Waiver No. 11 (the “
Eleventh Consent and Waiver
”)
to that certain Forbearance Agreement dated March 30, 2019 (the “
Forbearance Agreement
”) (as amended) to that
certain credit agreement, by and among with Jus-Com, Inc., an Indiana corporation and subsidiary of FTE, Benchmark Builders, Inc.,
a New York corporation and subsidiary of FTE (“
Benchmark
”), certain Credit Parties (as defined therein), Lateral
Juscom Feeder LLC (“
Lateral
”) and several lenders party thereto (together with Lateral, the “
Lenders
”)
dated October 28, 2015 (as amended, the “
Credit Agreement
”).
Pursuant
to the Eleventh Consent and Waiver, the Lenders have agreed to extend the Forbearance Period, as defined in the Forbearance Agreement,
through and including July 2, 2019.
In
connection with the Eleventh Consent and Waiver, on July 1, 2019, Brian McMahon and Fred Sacramone each entered into an eighth
amendment to their respective Series A convertible promissory notes dated April 20, 2017 (the “Series A Notes”), as
amended, to extend the maturity date on the Series A Notes to July 2, 2019.
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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FTE
NETWORKS, INC.
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By:
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/s/
Fred Sacramone
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Fred
Sacramone
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Interim
Chief Executive Officer
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Date:
July 2, 2019
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