(Registrant’s
telephone number, including area code)
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:
[
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act
(17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
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Item
2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
Through
a
series of transactions, the Company’s credit facility (the “Credit Facility”)
for its trading operations will shortly be increased from $50,000,000 to a
total
of $62,500,000. The facility provides credit to the Company’s subsidiary, A-Mark
Precious Metals, Inc. (“A-Mark”). Under the facility, four lending institutions
provide credit to A-Mark on an individual basis, but participate jointly through
a Collateral Agency Agreement, which is administered by Brown Brothers Harriman
& Co., as collateral agent. Amounts outstanding under the Credit Facility
bear interest based on London Interbank Offered Rate ("LIBOR") plus a margin.
Borrowings are secured by A-Mark’s receivables and inventories and are repayable
on demand. A-Mark has executed documents with two of the lending institutions
increasing the line to a total of $60,000,000, and has received approval from
one other institution for an additional $2,500,000.
The
documents reflecting the increase in the amount of the credit line did not
effect a material change in any of the other terms and conditions of the Credit
Facility.
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.
