Current Report Filing (8-k)

Date : 01/06/2020 @ 11:02AM
Source : Edgar (US Regulatory)
Stock : Yunhong CTI Ltd (CTIB)
Quote : 0.8  -0.145 (-15.34%) @ 9:29PM

Current Report Filing (8-k)

 



 

UNITED STATES

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 5, 2019

  

CTI INDUSTRIES CORPORATION

(Exact name of registrant as specified in its charter)

 

Illinois

(State or other jurisdiction of incorporation)

  

000-23115

36-2848943

(Commission File Number)

(IRS Employer Identification No.)

 

 

22160 N. Pepper Road Lake Barrington, Illinois

60010

(Address of principal executive offices)

(Zip Code)

 

Registrant's telephone number, including area code: (847) 382-1000

 

Not applicable

(Former name or former address, if changed since last report)

 

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common

CTIB

NasdaqCM

 

 

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 (see General Instruction A.2. below):

 

 

Written communications pursuant to Rule 425 under the Securities Act (l7 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-1 2)

 

Pre-commencement communications pursuant to Rule l4d-2(b) under the Exchange Act (17 CFR 240. l 4d-2 (b))

 

Pre-commencement communications pursuant to Rule 13c-4(c) under the Exchange Act (17 CFR 240. l 3c-4 (c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

 

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

 

 

CTI Industries Corporation (“CTI” or the “Company”) has executed a non-binding letter of intent to divest its subsidiary in Guadalajara, Mexico (Flexo Universal S. A. de R.L de C.V.) for approximately $4 million in total consideration. This transaction is subject to several contingencies, including a financing contingency and lender approval.     

 

Information contained in the Press Release dated December 11, 2019 and included with this Report as Exhibit 99.1 The information in Exhibit 99.1 shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

 

 

Item No. 9.01 – Financial Statements and Exhibits

 

 

(d)

Exhibits:

 

 

Exhibit No.

Exhibit

 

 

10.1*

Letter of Intent dated December 5, 2019

 

99.1*

Press Release dated December 11, 2019

 

*Filed Herewith

 

 

 SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, CTI Industries Corporation has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized, in the Village of Lake Barrington, Illinois, January 6, 2020.

 

 

 

CTI INDUSTRIES CORPORATION

 

 

 

 

 

By: 

/s/ Frank J. Cesario

 

 

Frank J. Cesario, President and CEO 

 

 

 

 

EXHIBIT INDEX

 

Exhibit Number

Description

 

 

10.1

Letter of Intent dated December 5, 2019

99.1

Press Release dated December 11, 2019

 

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