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: June 30, 2005
(Date of earliest event reported) (June 28, 2005)
Multimedia Games, Inc.
(Exact name of registrant as specified in its charter)
001-14551
(Commission File Number)
Texas 74-2611034
(State or other jurisdiction (IRS Employer
of incorporation) Identification No.)
206 Wild Basin Rd., Bldg. B, Suite 400, 78746
Austin, Texas (Zip Code)
(Address of principal executive offices)
Registrant's telephone number, including area code: (512) 334-7500
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))
1
Item 1.01 Entry into a Material Definitive Agreement.
On June 28, 2005, MGAM Systems, Inc. and Megabingo, Inc. (together, the
"Subsidiaries"), each a Delaware corporation and wholly-owned subsidiary of
Multimedia Games, Inc., a Texas corporation ("Multimedia Games"), entered into a
Sixth Amendment and accompanying Addendum (collectively, the "Amendment") to
that certain Loan and Security Agreement, dated as of June 25, 2003, by and
between the Subsidiaries and Comerica Bank (the "Bank"), successor by merger to
Comerica Bank-California, and as previously amended by that certain First
Amendment to Loan and Security Agreement dated as of December 22, 2003, that
certain Second Amendment to Loan and Security Agreement dated as of March 4,
2004, that certain Third Amendment to Loan and Security Agreement dated as of
October 23, 2004, that certain Fourth Amendment to Loan and Security Agreement
dated as of November 23, 2004, and that certain Fifth Amendment to Loan and
Security Agreement dated as of December 28, 2004 (as so previously amended, the
"Loan Agreement").
The Amendment amends the Loan Agreement to, among other things: (i) increase the
aggregate amount of the credit line thereunder from up to $35,000,000 to up to
$70,000,000, through the addition of a $35,000,000 reducing, revolving line of
credit; (ii) expand the types of investments permitted under the Loan Agreement
to include investments by the Subsidiaries in connection with certain agreements
to provide financing for casino developments; (iii) amend the interest rates for
credit advances thereunder to be based on LIBOR rather then Prime interest
rates; and (iv) permit the repurchase of stock from existing cash reserves, in
certain instances, without the Bank's prior written consent.
The Subsidiaries are wholly owned by Multimedia Games, and Multimedia Games and
MGAM Services, L.L.C., a Delaware limited liability company and wholly-owned
subsidiary of Multimedia Games, have entered into a guarantee agreement with the
Bank guaranteeing prompt payment of all indebtedness and obligations of the
Subsidiaries to the Bank under the Loan Agreement and prompt performance of all
other obligations of the Subsidiaries to the Bank under the Loan Agreement.
Other than in respect of the Loan Agreement and related agreements and
amendments thereto, there are no material relationships among the parties to the
Loan Agreement.
2
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.
MULTIMEDIA GAMES, INC.
Dated: June 30, 2005 By: /s/ Craig S. Nouis
----------------------------------
Craig S. Nouis
Chief Financial Officer and
Principal Accounting Officer
3