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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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): February 6, 1998
MOLTEN METAL TECHNOLOGY, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 0-21042 52-1659959
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(State or Other Jurisdiction (Commission File Number) (I.R.S. Employer
of Incorporation) Identification No.)
400-2 TOTTEN POND ROAD, WALTHAM, MASSACHUSETTS 02154
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Address of principal executive offices
Registrant's telephone number, including area code: (781) 487-9700
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ITEM 5. OTHER EVENTS
EXTENSION OF DUE DATE FOR LOAN
On December 3, 1997, Molten Metal Technology, Inc. (the "Company") and
its subsidiaries filed a voluntary petition for reorganization under Chapter 11
of the U.S. Bankruptcy Code. The petition was filed in the U.S. Bankruptcy Court
for the District of Massachusetts (Eastern Division). On December 22, 1997, the
Company secured a short-term loan of $7.7 million from a lender (the "Lender")
to fund continued operations and to allow the Company time to secure medium-term
financing from various potential financing sources, including from the Lender.
The short-term loan was approved by a final Order of the Bankruptcy Court on
January 6, 1998. The short-term loan, which was originally due on January 30,
1998, is secured with a lien on substantially all of the assets of the Company
and its subsidiaries.
On January 30, 1998, the Lender agreed in writing to extend the term of
the short-term loan for an additional week, to February 6, 1998, so that the
Lender could complete its due diligence with respect to offering a $20
medium-term loan. On February 3, 1998, the Lender provided a proposed commitment
to make a medium-term loan of $20 million to the Company, subject to agreement
on terms and conditions of the financing. Additional time is needed to negotiate
the proposed financing transaction. Accordingly, on February 6, 1998, the Lender
agreed in writing to extend the term of the short-term loan for an additional
week, to February 13, 1998, so that the Company and the Lender can complete
negotiations with respect to the proposed financing transaction.
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.
MOLTEN METAL TECHNOLOGY, INC.
Dated: February 6, 1998 By: /s/ F. GORDON BITTER
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F. Gordon Bitter
Chief Executive Officer and
Chief Financial Officer
