10 Forest Avenue, Suite 220, Paramus, NJ 07652
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code - (201) 342-0900
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(Former Name or Former Address, if changed since last report)
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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):
Item 1.01 Extension of Material Definitive Agreement
As of November 4, 2010, Caprius, Inc. ("Caprius" or us) and our subsidiaries (collectively, the "Company"), entered into Amendment No. 2 (the "Amendment") to the Securities Purchase and Sale Agreement, dated as of September 16, 2009 with Vintage Capital Group, LLC ("Vintage"), whereby the maximum availability thereunder was increased up to $4.5 million. There were no other material changes to the terms of Securities Purchase and Sale Agreement, dated September 16, 2009 as amended in Amendment No. 1 dated September 8, 2010.
Vintage had advanced approximately $4.0 million in cash to the Company, exclusive of amounts related to capitalized obligations. The Company will use the proceeds of the funding under the Amendment for working capital, production and further marketing of the SteriMed Systems, as well as the settlement of certain outstanding obligations.
The foregoing is a summary of the Amendment. For complete information, see the Amendment which is filed as Exhibit 10.1 to this Report and the initial Securities Purchase and Sale Agreement which was filed as Exhibit 10.1 to Caprius’ Form 8-K for an event of September 16, 2009, and Amendment No. 1, which was filed as Exhibit 10.1 to Caprius’ Form 8-K for an event of September 8, 2010.
Item 9.01 Financial Statements and Exhibits
Exhibit
10.1
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Amendment No. 2 to the Securities Purchase and Sale Agreement, dated as of November 4, 2010, by and among Caprius, M.C.M. Environmental Technologies, Inc., M.C.M. Environmental Technologies Ltd., and Vintage.
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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.