Applied Optoelectronics Enters Material Definitive Agreement
Ticker: AAOI · Form: 8-K · Filed: May 30, 2024 · CIK: 1158114
| Field | Detail |
|---|---|
| Company | Applied Optoelectronics, INC. (AAOI) |
| Form Type | 8-K |
| Filed Date | May 30, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation
Related Tickers: AAOI
TL;DR
AOI just signed a big deal, new financial obligation incoming.
AI Summary
Applied Optoelectronics, Inc. entered into a material definitive agreement on May 24, 2024, which involves a direct financial obligation. The company, headquartered in Sugar Land, Texas, filed this 8-K report to disclose this significant event.
Why It Matters
This filing indicates a new financial commitment or obligation for Applied Optoelectronics, Inc., which could impact its financial standing and future operations.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements can introduce new financial obligations or strategic shifts that carry inherent risks.
Key Players & Entities
- Applied Optoelectronics, Inc. (company) — Registrant
- May 24, 2024 (date) — Date of earliest event reported
- Sugar Land, Texas (location) — Principal executive offices
FAQ
What type of material definitive agreement did Applied Optoelectronics, Inc. enter into?
The filing states that the agreement involves the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement of a registrant.
On what date was the earliest event reported in this 8-K filing?
The earliest event reported was on May 24, 2024.
What is the principal executive office address for Applied Optoelectronics, Inc.?
The principal executive offices are located at 13139 Jess Pirtle Blvd., Sugar Land, Texas 77478.
What is the IRS Employer Identification Number for Applied Optoelectronics, Inc.?
The IRS Employer Identification Number is 76-0533927.
Under which section of the Securities Exchange Act is this Form 8-K filed?
This Form 8-K is filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Filing Stats: 772 words · 3 min read · ~3 pages · Grade level 10.6 · Accepted 2024-05-30 16:14:56
Key Financial Figures
- $0.001 — ch registered Common Stock, Par value $0.001 AAOI NASDAQ Global Market Indicate
Filing Documents
- appliedopto_8k.htm (8-K) — 32KB
- appliedopto_ex1001.htm (EX-10.1) — 142KB
- image_001.jpg (GRAPHIC) — 6KB
- image_003.jpg (GRAPHIC) — 153KB
- image_004.jpg (GRAPHIC) — 108KB
- appliedopto_ex1002.htm (EX-10.2) — 128KB
- image_005.jpg (GRAPHIC) — 8KB
- image_006.jpg (GRAPHIC) — 8KB
- 0001683168-24-003885.txt ( ) — 908KB
- aaoi-20240524.xsd (EX-101.SCH) — 3KB
- aaoi-20240524_lab.xml (EX-101.LAB) — 33KB
- aaoi-20240524_pre.xml (EX-101.PRE) — 22KB
- appliedopto_8k_htm.xml (XML) — 3KB
01
Item 1.01 Entry into a Material Definitive Agreement. On May 24, 2024, Global Technology, Inc. ( "Global Technology"), a wholly owned subsidiary of Applied Optoelectronics, Inc., entered into a five-year revolving credit line agreement, totaling 170,000,000 RMB (the "Credit Line") and a mortgage contract security agreement (the "Security Agreement"), with Shanghai Pudong Development Bank Co., Ltd., in Ningbo City, China ( the "Bank"). Borrowing under the Credit Line will be used for general corporate and capital investment purposes. Global Technology may draw upon the Credit Line on an as-needed basis between May 24, 2024 and May 24, 2029. However, the Bank has the right to unilaterally revoke the Credit Line, at any time, without prior notice, based on changes in law, regulations, policies, or restrictions imposed by the government; or market conditions, including the Bank's own business needs, or changes in Global Technology's credit status or financial and operational condition. Interest on each draw will be negotiated by the Bank and Global Technology, and stated in the specific loan documents executed at the time of each draw. Global Technology's obligations under the Credit Line will be secured by real property owned by Global Technology and mortgaged to the Bank under the terms of the Security Agreement. The Credit Line and Security Agreement also contain rights and obligations, representations and warranties, and events of default applicable to Global Technology that are customary for agreements of this type. The foregoing description of the Credit Line and Security Agreement do not purport to be a complete statement of the parties' rights and obligations under the agreements and is qualified in its entirety by reference to the full text of the Financing Credit Line Agreement and Maximum Mortgage Contract (Security Agreement), English translations of which are attached as Exhibit 10.1 and 10.2 to this Current Report on Form 8-K and are incorporated by
03
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information as set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into Item 2.03.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Translation of the Financing Credit Line Agreement, dated May 24, 2024, between Global Technology, Inc. and Shanghai Pudong Development Bank Co., Ltd. 10.2 Translation of the Maximum Mortgage Contract (Security Agreement), dated May 24, 2024, between Global Technology, Inc. and Shanghai Pudong Development Bank Co., Ltd. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: May 30, 2024 APPLIED OPTOELECTRONICS, INC. By: /s/ David C. Kuo Name David C. Kuo Title: Senior Vice President and Chief Legal Officer 3