Current Report Filing (8-k)

 

 

 

 

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 e ven t reported):

May 5, 2023

 

Commission F ile Number

000-31380

 

APPLIED MINERALS, INC.

(Exact name of registrant as specified in its charter)

 

Delaware		82-0096527
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

 

1200 Silver City Road, PO Box 432, Eureka, UT		84628
(Address of principal executive offices)		(Zip Code)

 

	[phone]
	(Issuer’s Telephone Number, Including Area Code)

 

 

(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 2.04 Triggering Events that Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement

 

On May 5, 2023, the Company received a Notice of Default from holders of its 10% PIK-Election Convertible Notes due May 1, 2023 (“Series A Notes”). The Company failed to make payment of principal and interest under the terms of the Series A Notes, which have a Stated Maturity Date of May 1, 2023, thereby causing an Event of Default under section 7(a) of the Series A Notes. Under the Event of Default, all outstanding principal and interest of the Series A Notes, totaling approximately $31.3 million, are immediately due.

 

SIGNATURES

 

In accordance with 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 thereunto duly authorized.

 

			APPLIED MINERALS, INC.
Dated:	May 11, 2023		/s/ CHRISTOPHER T. CARNEY
			By:  Christopher T. Carney
			President and Chief Executive Officer