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 (Date of earliest event reported): February 28, 2014
BROADWAY FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
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Delaware |
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000-27464 |
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95-4547287 |
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(State of Incorporation) |
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(Commission File Number) |
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(IRS Employer Identification No.) |
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5055 Wilshire Boulevard, Suite 500, Los Angeles, California |
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90036 |
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(Address of Principal Executive Offices) |
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(Zip Code) |
Registrant’s telephone number, including area code: (323) 634-1700
NOT APPLICABLE
(Former name or former address, if changed since last report)
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:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events.
On March 4, 2014, the Company issued a press release announcing that the holders of the senior securities of the trust that holds the Company’s Floating Rate Junior Subordinated Debentures due March 17, 2014 (the “Debentures”) approved the Company’s proposal to extend the maturity of the Debentures. Under the terms of the proposal, the Company offered to pay all accrued interest on the Debentures through to the closing of the modification of the indenture for the Debentures, plus up to $900,000, or 15%, of the principal amount of the Debentures at face value in consideration for extending the final maturity of the Debentures for ten years until March 17, 2024. The approval is conditioned upon various matters, including raising a minimum of $6 million of new equity capital, plus approvals by the Company’s regulators and senior lender. A copy of the press release is attached as Exhibit 99.1 to this report on Form 8-K.
Item 9.01 Financial Statements and Exhibits.
99.1 Press release dated March 4, 2014
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.
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BROADWAY FINANCIAL CORPORATION | ||
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Date: March 4, 2014 |
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By |
/s/ Brenda J. Battey |
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Brenda J. Battey |
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Chief Financial Officer |