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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 13, 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
FILING OF MOTION FOR ORDER APPROVING FINANCING AND 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 originally due on January 30, 1998.
The Company has now executed a commitment letter from the Lender for a
$20 million term loan due December 31, 1999. The proceeds from this loan would
be used to repay the short term loan from the Lender, and the balance would be
used primarily to enhance the operations of the Company's two facilities in a
Oak Ridge, Tennessee. The closing of this financing is subject to execution of
definitive documents agreeable to the Company and the Lender, and approval by
the Bankruptcy Court. On February 13, 1998, the Company filed a motion with the
Bankruptcy Court seeking a final order approving the proposed financing. The
Company has requested that the Court schedule a hearing on March 3 or 4, 1998
for the purpose of approving the proposed financing. Concurrently, the Lender
has agreed in writing to extend the term of the short-term loan to March 4, 1998
so that the proposed financing transaction can be completed and the Court can
enter a final order approving the medium-term loan.
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 17, 1998 By: /s/ F. Gordon Bitter
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F. Gordon Bitter
Chief Executive Officer and
Chief Financial Officer
