Unassociated Document
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) January
16, 2008
Shells
Seafood Restaurants, Inc.
(Exact
Name of Registrant as Specified in its Charter)
Delaware
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0-28258
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65-0427966
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(State
or Other Jurisdiction
of
Incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification
No.)
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16313
N. Dale Mabry Hwy, Suite 100, Tampa,
FL
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33618
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(Address
of Principal Executive
Offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code: (813)
961-0944
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 (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))
Item
1.01 Entry Into A Material Definitive Agreement.
On
January 16, 2008, Shells Seafood Restaurants, Inc. (the “Company”) entered into
a line of credit loan facility with Colonial Bank, N.A. in the amount of
$350,000. The loan carries a variable interest rate of 1% above prime bank
rate.
The initial rate is 8.25%. The line of credit facility matures on September
19,
2008 and is secured by the $1,050,000 letter of credit with Food and
Entertainment Co. The Company will use the funds for working capital
purposes. The preceding description of the terms of the line of credit
facility are qualified by reference to Exhibit 10.1 to this Report.
Item
9.01 Financial Statements and Exhibits.
(d) Exhibits.
10.1 |
Line
of Credit Agreement with Colonial Bank, dated January 16,
2008.
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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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SHELLS SEAFOOD RESTAURANTS, INC. |
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Date:
January 22, 2008
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By:
____________________________________ |
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Name:
Leslie
J. Christon
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Title:
President
and Chief Executive Officer
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Exhibit
Index
10.1 |
Line
of Credit Agreement with Colonial Bank, dated January 16,
2008.
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