-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Vb1+tsRmG0A87BtJGlhldrA81/EUqZKAij/XBmgO7qzCiiHK5Q0F39lv/LYRKcxS +838CMP0tKkWvdcqYYT/RQ== 0001104659-08-026148.txt : 20080423 0001104659-08-026148.hdr.sgml : 20080423 20080423165618 ACCESSION NUMBER: 0001104659-08-026148 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20080417 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers FILED AS OF DATE: 20080423 DATE AS OF CHANGE: 20080423 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NOVA BIOSOURCE FUELS, INC. CENTRAL INDEX KEY: 0001137469 STANDARD INDUSTRIAL CLASSIFICATION: PETROLEUM REFINING [2911] IRS NUMBER: 912028450 STATE OF INCORPORATION: NV FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33455 FILM NUMBER: 08772277 BUSINESS ADDRESS: STREET 1: 363 NORTH SAM HOUSTON PARKWAY EAST STREET 2: SUITE 630 CITY: HOUSTON STATE: TX ZIP: 77060 BUSINESS PHONE: 7138696682 MAIL ADDRESS: STREET 1: 363 NORTH SAM HOUSTON PARKWAY EAST STREET 2: SUITE 630 CITY: HOUSTON STATE: TX ZIP: 77060 FORMER COMPANY: FORMER CONFORMED NAME: NOVA OIL INC DATE OF NAME CHANGE: 20010402 8-K 1 a08-12282_18k.htm CURRENT REPORT OF MATERIAL EVENTS OR CORPORATE CHANGES

 

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 17, 2008

 

NOVA BIOSOURCE FUELS, INC.

(Exact name of registrant as specified in its charter)

 

Nevada

 

000-32531

 

91-2028450

(State or other

 

(Commission File Number)

 

(I.R.S. Employer

Jurisdiction

 

 

 

Identification Number)

of incorporation)

 

 

 

 

 

363 North Sam Houston Parkway East, Suite 630, Houston, Texas 77060

(Address of Principal Executive Offices)

 

713-869-6682

(Registrant’s telephone number, including area code)

 

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 (see General Instruction A.2. below):

 

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 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

 

On April 17, 2008, Nova Biofuels Seneca, LLC (“Nova Biofuels Seneca”), a subsidiary of Nova Biosource Fuels, Inc. (the “Company”), entered into an amendment (the “Amendment”) to the $41 million senior secured construction, term and working capital credit facility (the “Credit Facility”) among Nova Biofuels Seneca, the Lenders party thereto, WestLB AG, New York Branch, as administrative agent for the Lenders, WestLB AG, New York Branch, as Issuing Bank with respect to the Letters of Credit, WestLB AG, New York Branch, as collateral agent for the Senior Secured Parties, WestLB AG, New York Branch, as lead arranger and sole bookrunner, and Sterling Bank, a Texas banking corporation, as accounts bank.  The Amendment provides that Nova Biofuels Seneca will not be obligated to deliver monthly borrowing base certificates to the administrative agent until after the business day on which all the conditions to the term loan funding have been satisfied and the construction loans are converted into term loans (the “Conversion Date”). Additionally, the Amendment changes the definition of “Working Capital Available Amount” to mean five million Dollars ($5,000,000); provided that the Working Capital Available Amount shall at no time exceed the Aggregate Working Capital Loan Commitment (as defined in the Credit Facility) nor (after the Conversion Date) the then-effective Borrowing Base Commitment (as defined in the Credit Facility), as certified from time to time by Nova Biofuels Seneca.

 

ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.

 

On April 18, 2008, the Compensation Committee of the Board of Directors of the Company approved an increase in the monthly salary of Interim President Fred Zeidman from $10,416 to $15,000.

 

2


 

Signature

 

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 thereunto duly authorized.

 

 

 

NOVA BIOSOURCE FUELS, INC.

 

 

 

 

 

 

 

By:

/s/ Kenneth T. Hern

 

 

Kenneth T. Hern

 

 

Chairman and Chief Executive Officer

 

 

 

 

Date: April 22, 2008

 

 

3

 -----END PRIVACY-ENHANCED MESSAGE-----