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WYY Widepoint

 

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): April 29, 2020
_________________
 
WIDEPOINT CORPORATION
(Exact Name of Registrant as Specified in Charter)
 
 
Delaware001-3303552-2040275
(State or Other Jurisdiction of Incorporation)(Commission File Number)(I.R.S. EmployerIdentification No.)
 
 11250 Waples Mill Road, South Tower 210, Fairfax, Virginia 22030
 (Address of Principal Executive Office) (Zip Code)

Registrant’s telephone number, including area code: (703) 349-2577
______________________________________________________________________________
 
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))
 
Securities Registered pursuant to Section 12(b) of the Act:
Title of Each ClassTrading SymbolName of Exchange on Which Registered
Common Stock, $0.001 par value per shareWYYNYSE American
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company    
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.     
 


 
 
Item 1.01.
Entry into a Material Definitive Agreement.
 
The information set forth under Item 2.03, “Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant,” is incorporated herein by reference.
 
Item 2.03.
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
 
On April 29, 2020, WidePoint Corporation and its subsidiaries (the “Company”) entered into a Fifth Modification Agreement (the “Modification Agreement”) with Access National Bank to amend its existing $5.0 million working capital credit facility. The Modification Agreement (i) extends the maturity date of the facility for one year to April 30, 2021 and (ii) lowers the variable interest rate to the Wall Street Journal prime rate plus 0.25% from the Wall Street Journal prime rate plus 0.50%.
 
The description of the Modification Agreement set forth above is qualified by reference to Exhibit 10.1, which is incorporated herein by reference.
 
Item 9.01(d)
Financial Statements and Exhibits.
 
Exhibit 10.1                                Fifth Modification Agreement with Access National Bank
 

 
 
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.
 
 WIDEPOINT CORPORATION 
    
Date: April 30, 2020 
By:  
/s/ Jin Kang
 
  Jin Kang 
  Chief Executive Officer