SemiLEDs Corp Files 8-K for Material Definitive Agreement

TL;DR

SemiLEDs signed a big deal, details TBD.

AI Summary

On January 15, 2025, SemiLEDs Corporation entered into a material definitive agreement. The company, incorporated in Delaware with its principal executive offices in Taiwan, filed a Form 8-K to report this event. The filing does not provide specific details about the agreement or any associated financial figures.

Why It Matters

This filing indicates a significant new contract or partnership for SemiLEDs, which could impact its future business operations and financial performance.

Risk Assessment

Risk Level: medium — The lack of specific details in the filing creates uncertainty about the nature and impact of the material definitive agreement.

Key Players & Entities

• SemiLEDs Corporation (company) — Registrant
• January 15, 2025 (date) — Date of Report
• Delaware (jurisdiction) — State of incorporation
• Taiwan (location) — Principal executive offices location

FAQ

Key Financial Figures

• $0.0000056 — ch registered Common Stock, par value $0.0000056 LEDS The Nasdaq Stock Market Chec
• $1.7 million — the Company, with aggregate amounts of $1.7 million and $1.5 million, respectively, and an
• $1.5 m — h aggregate amounts of $1.7 million and $1.5 million, respectively, and an annual inte
• $1.5 million — nitially required to repay the loans of $1.5 million on January 14, 2021 and $1.7 million on
• $400,000, b — ed interest, in an amount not to exceed $400,000, by issuing shares of the Company's common
• $800,000, b — ed interest, in an amount not to exceed $800,000, by issuing shares of the Company's common

Filing Documents

• leds-20250115.htm (8-K) — 55KB
• leds-ex10_1.htm (EX-10.1) — 22KB
• leds-ex10_2.htm (EX-10.2) — 21KB
• 0000950170-25-006018.txt ( ) — 223KB
• leds-20250115.xsd (EX-101.SCH) — 30KB
• leds-20250115_htm.xml (XML) — 5KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On January 8, 2019, the Company entered into loan agreements with each of its Chairman and Chief Executive Officer and the largest shareholder of the Company, with aggregate amounts of $1.7 million and $1.5 million, respectively, and an annual interest rate of 8% (the "Loan Agreement"). The Loan Agreement is secured by a second priority security interest on the Company's headquarters building. The Company was initially required to repay the loans of $1.5 million on January 14, 2021 and $1.7 million on January 22, 2021, respectively. On January 16, 2021, the maturity date of these loans was extended with same terms and interest rate for one year to January 15, 2022, and on January 14, 2022, the maturity date of these loans was extended again with same terms and interest rate for one more year to January 15, 2023. On January 13, 2023, the maturity date of these loans was further extended with same terms and interest rate for one year to January 15, 2024. On January 7, 2024, J.R. Simplot Company assigned and transferred all of its right, title and interest in and to the loan agreement to Simplot Taiwan Inc., in accordance with and subject to the terms and conditions of the loan agreement. On January 7, 2024, the Company entered into the Fourth Amendment to the loan agreements with each of Simplot Taiwan Inc. and Trung Doan (each, a "Fourth Amendment"). The Fourth Amendment with Simplot Taiwan Inc. (i) extended the maturity date of its loan agreement to January 15, 2025, and (ii) upon mutual agreement of the Company and Simplot Taiwan Inc., permitted the Company to repay any principal amount or accrued interest, in an amount not to exceed $400,000, by issuing shares of the Company's common stock in the name of Simplot Taiwan Inc. as partial repayment of the loan agreement at a price per share equal to the closing price of the Company's common stock immediately preceding the business day of the payment notice

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Fifth Amendment to Loan Agreement dated January 15, 2025 between SemiLEDs Corporation and Simplot Taiwan Inc. 10.2 Seventh Amendment to Loan Agreement dated January 15, 2025 between SemiLEDs Corporation and Trung Doan 104 Cover Page Interactive Data File - the cover page iXBRL tags are embedded within the Inline XBRL document. 3 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 thereunto duly authorized. Date: January 16, 2025 SemiLEDs Corporation By: /s/ Christopher Lee Name: Christopher Lee Title: Chief Financial Officer 4

View Full Filing

View this 8-K filing on SEC EDGAR