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January 25, 2013
08:41 EDTIECIEC Electronics amends, extends bank agreement
IEC Electronics announced that it has amended its credit facility with Manufacturers and Traders Trust to, among other changes, convert a portion of its long term and revolving debt to term loans with fixed or effectively fixed rates, lower the interest rate range on certain existing and new advances, extend certain maturity dates, lower the range of unused line fees, and eliminate excess cash flow prepayment requirements. Additionally, the revolving credit facility will continue to provide for maximum borrowings of $20M.
News For IEC From The Last 14 Days
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February 17, 2015
08:23 EDTIECIEC Electronics announces notification of NYSE listing deficiency
IEC Electronics announced that on February 10, the company received a deficiency letter from the NYSE MKT indicating that the IEC is not in compliance with Sections 134 and 1101 of the NYSE MKT's Company Guide as a result of the company's failure to file its quarterly report on Form 10-Q for the quarter ended December 26, 2014 by the requisite deadline of the SEC. The company previously disclosed its inability to file the Quarterly Report with the SEC due to its pending restatement of its previously issued consolidated financial statements covering the company's fiscal year ended September 30, 2014 and for the fiscal quarters ended March 28, 2014 and June 27, 2014 as described in the company's Current Report on Form 8-K filed with the SEC on February 9. Additionally, the NYSE MKT asserted that the company's failure to timely file the Quarterly Report is a material violation of its listing agreement with the NYSE MKT. Therefore, the company has become subject to the procedures and requirements of Section 1009 of the Company Guide. Such procedures required the company to communicate with the NYSE MKT by February 17 to confirm receipt of the Deficiency Letter and indicate whether or not it intended to submit a plan of compliance, which it did on February 16. The company intends to submit a plan of compliance to the NYSE MKT by February 24 which will provide the NYSE MKT with the actions that the company has taken or intends to take to bring the company into compliance with Sections 134 and 1101 of the Company Guide by no later than May 11. If NYSE MKT accepts the plan but the company is not in compliance with the continued listing standards of the Company Guide by May 11, 2015, or if the company is not making progress consistent with the plan, the company may be subject to delisting procedures.

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