Seawright Holdings, Inc.
_________________________________________________
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)
June
9,
2006
Seawright
Holdings,
Inc.
(Exact
Name of Registrant as Specified in its Charter)
|
Delaware
|
333-56848
|
54-1965220
|
|
(State
or Other Jurisdiction
Of
Incorporation)
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(Commission
File
Number)
|
(I.R.S.
Employer
Identification
No.)
|
|
600
Cameron Street
Alexandria,
Virginia
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22134
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|
(Address
of Principal Executive Offices)
|
|
(Zip
Code)
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Registrant’s
telephone number, including area code: (703) 340-1269
None
(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:
[
]
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.
The
information set forth in Item 2.03 hereof is incorporated by reference in
response to Item 1.01.
Item
2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
On
June
9, 2006, in connection with its Mt. Sidney property (the “Property”), the
Registrant obtained a $350,000 interest-only mortgage loan (the “Loan”) from
Charter House, LLC. The Loan matures in six months, bears interest at a fixed
rate of 15.00% per annum, requires monthly installments of interest throughout
its term with a balloon payment, equal to the principal balance of the Loan,
due
on December 8, 2006. The Registrant also has the option to extend the Loan
by a
period of six months by payment of a fee equal to 3.00% of the principal balance
of the Loan. The Loan will be secured by a first lien on the
Property.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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SEAWRIGHT
HOLDINGS, INC. |
|
|
|
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By: |
/s/ Joel
P.
Sens |
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|
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Name:
Joel P. Sens
Title: Chief Executive
Officer
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Dated:
June 15, 2006