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 18, 2002
eMagin Corporation
------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 000-24757 56-1764501
-------------------------------------- ------------------------------------- ----------------------------------
(State or Other Jurisdiction of (Commission File Number) (I.R.S. Employer Identification
Incorporation) Number)
2070 Route 52, Hopewell Junction, New York 12533
---------------------------------------------------
(Address of principal executive offices) (zip code)
(845) 892-1900
----------------------------------------------------
(Registrant's telephone number, including area code)
ITEM 5. OTHER EVENTS.
eMagin Corporation ("eMagin" or the "Company") and The Travelers Insurance
Company ("Travelers") entered into a sixth amendment agreement to amend and
extend the maturity date of the Convertible Promissory Note (the "Note") dated
August 20, 2001, issued under the Note Purchase Agreement entered into as of
August 20, 2001 by and between eMagin and Travelers. The amendment agreement
extends the maturity date of the Note from June 21, 2002 to August 30, 2002. The
Note will be convertible into common stock of eMagin ("Common Stock") on terms
set forth in the Note at the option of the holder. eMagin also agreed to issue
to Travelers (i) three year warrants covering the number of shares of Common
Stock, having the exercise prices, as indicated in the memorandum of
understanding ("MOU") dated as of June 17, 2002, the Stock such warrants
representing unissued warrants required to be issued pursuant to the terms of
the Note Purchase Agreement entered into in connection with the Note, and (ii)
warrants to purchase 1,200,000 shares of Common Stock, having an exercise price
of $0.5264 per share and expiring on the fifth anniversary of such issuance.
The foregoing description is only a summary of the transaction described
and is qualified in its entirety by the Amendment No. 6 to Convertible
Promissory Note attached as an exhibit to this Form 8-K, which exhibit is
incorporated herein by reference.
ITEM 7. EXHIBITS.
Exhibit
Number Description
10.1 Amendment No. 6 to Convertible Promissory Note dated as of
June 18, 2002.
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
EMAGIN CORPORATION
By:/s/ Susan Jones
-------------------------------------
Name: Susan Jones
Title: Executive Vice President
Dated June 21, 2002.