- Current report filing (8-K)

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

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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):   April 22, 2010

 

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SATCON TECHNOLOGY CORPORATION

(Exact Name of Registrant as Specified in Charter)

 

Delaware

(State or Other Jurisdiction of Incorporation)

 

1-11512		04-2857552
(Commission File Number)		(I.R.S. Employer Identification No.)

 

27 Drydock Avenue
Boston, Massachusetts		02210-2377
(Address of Principal Executive Offices)		(Zip Code)

 

[phone]

(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 ( see General Instruction A.2. below):

 

o             Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

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

 

o             Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o             Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

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Item 1.01.        Entry into a Material Definitive Agreement

 

On April 22, 2010, the Company entered into an amendment to its Credit Facility with Silicon Valley Bank providing for a new $5,000,000 sublimit within its overall $10,000,000 borrowing facility.  This new sublimit provides the Company with working capital borrowing capacity in excess of the amount that would otherwise be available under its existing formula based on accounts receivable.  The availability of the new sublimit will be reduced by $2,500,000 on June 29, 2010 and will be subject to the Company meeting prescribed liquidity, tangible net worth and other covenants.

 

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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.

 

	SATCON TECHNOLOGY CORPORATION
Date: April 28, 2010	By:	/s/ John W. Peacock
		John W. Peacock
		Chief Accounting Officer

 

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