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) July 2, 2009
MEDIFAST,
INC.
(Exact
name of registrant as specified in its charter)
Delaware
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000-23016
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13-3714405
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(State
or other jurisdiction
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(Commission
File Number)
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(IRS
Employer
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of
incorporation or organization)
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Ident.
No.) |
11445 Cronhill Drive, Owing Mills,
Maryland
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21117
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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 (410)-581-8042
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
2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
On July 2, 2009, Medifast, Inc., a
Delaware corporation, established a $5 million unsecured line of credit with
Bank of America. Borrowings under the line of credit facility will
bear interest at LIBOR + 175 basis points and credit is available for a period
of one year. The line of credit may be used for general working
capital requirements and for general corporate needs of Medifast,
Inc.
On July 2, 2009, Medifast, Inc. also
received a 3 year unsecured term loan with a 5 year amortization from Bank of
America to repay the $2.7 million balance on its Merrill Lynch line of credit
that expired on July 1, 2009. The interest rate is at LIBOR + 200
basis points.
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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MEDIFAST,
INC. |
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Dated: July
6, 2009
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/s/ Michael
S. McDevitt |
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Michael
S. McDevitt |
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Chief
Executive Officer |
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