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: |
December 27, 2007 | |||
| (Date of earliest event reported) |
(December 20, 2007) |
Multimedia Games, Inc.
(Exact Name of Registrant as Specified in Its Charter)
001-14551
(Commission File Number)
| Texas | 74-2611034 | |
| (State or Other Jurisdiction of Incorporation) |
(IRS Employer Identification No.) | |
| 206 Wild Basin Rd., Bldg. B, Suite 400, Austin, Texas |
78746 | |
| (Address of Principal Executive Offices) | (Zip Code) | |
Registrant’s Telephone Number, Including Area Code: (512) 334-7500
(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 (see General Instruction A.2. below):
| ¨ | 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)) |
| Item 1.01 | Entry into a Material Definitive Agreement. |
On December 20, 2007, MGAM Systems, Inc. and Megabingo, Inc. (together, the “Subsidiaries”), each a Delaware corporation and wholly-owned subsidiary of Multimedia Games, Inc., a Texas corporation (“Multimedia Games”), entered into a Second Amendment to Credit Agreement, dated as of such date, with Comerica Bank, in its capacity as agent (the “Amendment”), amending the Credit Agreement dated as of April 27, 2007 by and among the Subsidiaries, certain financial institutions and Comerica Bank, as agent for such financial institutions, as amended by that certain letter amendment dated as of June 6, 2007 by and among the Subsidiaries, such financial institutions and Comerica Bank and that certain Amendment to Credit Agreement dated as of October 26, 2007 by and among the Subsidiaries and Comerica Bank (as amended, the “Existing Agreement”). The Amendment amends the Existing Agreement by, among other things, (i) extending the date by which the Subsidiaries must enter into hedging arrangements covering at least $50 million of the Term Loan to June 1, 2008 and (ii) modifying certain of the interest rate margins (which are based on Multimedia Games’ and its subsidiaries’ consolidated total leverage ratio) applicable to the revolving credit and term loan. The credit facilities under the Existing Agreement, as amended by the Amendment, have now been fully syndicated.
The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated into this report by reference.
| Item 2.03 | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The disclosure required by this item is included in Item 1.01 of this Current Report on Form 8-K and is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit Number |
Description | |
| 10.1 | Second Amendment to Credit Agreement by and among MGAM Systems, Inc., Megabingo, Inc. and Comerica Bank dated as of December 20, 2007. | |
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SIGNATURE
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.
| MULTIMEDIA GAMES, INC. | ||||||
| Dated: December 27, 2007 | By: | /s/ Clifton E. Lind | ||||
| Clifton E. Lind | ||||||
| Chief Executive Officer | ||||||
| (Principal Executive Officer) | ||||||
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EXHIBIT INDEX
| Exhibit Number |
Description | |
| 10.1 | Second Amendment to Credit Agreement by and among MGAM Systems, Inc., Megabingo, Inc. and Comerica Bank dated as of December 20, 2007. | |