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)
June 1,
2009 (May 27, 2009)
Commission
File No. 000-22390
SHARPS COMPLIANCE
CORP.
(Exact
Name Of Registrant As Specified In Its Charter)
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Delaware
(State
Or Other Jurisdiction Of
Incorporation
Or Organization)
|
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74-2657168
(IRS
Employer
Identification
No.)
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9220
Kirby Drive, Suite 500
Houston,
Texas 77054
(Address
Of Principal Executive Offices)
(Registrant’s
Telephone Number, Including Area Code)
713-432-0300
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:
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
CFR240.14d-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 Material Definitive Agreements.
On May
27, 2009, the Company executed a first amendment to
the Lease Agreement with Park Industrial, LLC, a Texas limited
liability company (the "Texas Lease") originally dated January 30, 2009 (the
“Amendment”). The Amendment (combination office/warehouse) provides for an
additional of combination office and warehouse leased space by 66,035 square
feet for a total of 131,406 square feet of the entire facility. This expansion
will facilitate the Company’s continued expansion and growth as well as the move
of its Operations center from the current corporate office.
The Texas
Lease commencement date will be upon substantial completion of
facility construction build-out which the Company estimates to be August to
September of 2009.
The term
of the Texas Lease is sixty-four (64) months from commencement
date.
The base
rent for the Texas Lease expansion is $0 for the first
four (4) months after commencement, $25,093.30 per month for months five (5)
through fifteen (15), $25,753.65 per month for months sixteen (16) through
thirty-seven (37), and $26,414.00 thereafter. In addition to the base
rent, the Company is also responsible for its share of operating expenses
(common area maintenance, taxes, insurance, etc..) that are estimated at $0.12
per square foot (or approximately $8,100 per month).
There is
no material relationship between the Company, or any of its affiliates, and the
landlord, or any of its affiliates, other than the contractual relationship
under the corresponding lease agreements.
The
description of the above noted leases is qualified in its entirety by
reference to the agreements filed as Exhibit 10.1 to this Form 8-K.
Item
9.01. Financial Statements and Exhibits.
(c)
Exhibits
| 10.1 |
First
Amendment to Lease Agreement dated as of May 27, 2009, between Sharps
Compliance, Inc. and Park 288 Industrial,
LLC.
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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.
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Date: June
1, 2009
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SHARPS
COMPLIANCE CORP.
By: /s/ David P.
Tusa
Executive
Vice President, Chief Financial
Officer
and Business Development
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