Current Report Filing (8-k)
07 June 2023 - 11:16PM
Edgar (US Regulatory)
0000867840
false
0000867840
2023-06-02
2023-06-02
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
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)
June 2, 2023
PRECISION
OPTICS CORPORATION, INC.
(Exact name of registrant as specified in its charter)
| Massachusetts |
|
001-10647 |
|
04-2795294 |
| (State or other jurisdiction |
|
(Commission |
|
(IRS Employer |
| of incorporation) |
|
File Number) |
|
Identification No.) |
| |
|
|
|
|
22
East Broadway
Gardner,
Massachusetts |
|
01440 |
| (Address of principal executive offices) |
|
(Zip Code) |
(Registrant’s telephone number, including
area code) (978) 630-1800
N/A
(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))
Securities registered pursuant to
Section 12(b) of the Act: None
Securities registered pursuant to
Section 12(g) of the Act:
| Title of each class |
|
Trading symbol(s) |
|
Name of each exchange on which registered |
| Common stock, $0.01 par value |
|
POCI |
|
The Nasdaq Stock Market |
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.
On June 2, 2023, the Company entered into a Second
Amendment to Loan Agreement with Main Street Bank, which provides for an additional term loan in the original principal amount of $750,000
and an increase in the Company’s existing revolving line of credit to up to $1,250,000, from the existing limit of $500,000. The
term loan has a term of 5 years and bears interest at the fixed rate of 8.625% per annum. The revolving line of credit bears interest
at the greater of the Wall Street Journal “Prime Rate” plus 1.50% or the fixed rate of 4.75% per annum. The term loan and
the revolving line of credit are secured by all assets of the Company.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
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.
| |
PRECISION OPTICS CORPORATION, INC. |
| |
|
| |
|
| Date: June 7,
2023 |
By: |
/s/ Joseph
N. Forkey |
| |
|
Name:
Joseph N. Forkey
Title: President |
Precision Optics (QB) (USOTC:PEYE)
Historical Stock Chart
From May 2024 to Jun 2024
Precision Optics (QB) (USOTC:PEYE)
Historical Stock Chart
From Jun 2023 to Jun 2024
