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): August 22, 2006
|
JACLYN, INC.
|
| (Exact Name of Registrant as Specified in its Charter) |
|
|
|
| Delaware |
1-5863 |
22-1432053 |
| (State or Other Jurisdiction |
(Commission |
(IRS Employer |
| of Incorporation) |
File No.) |
Identification No.) |
|
|
| 635 59TH Street |
|
|
| West New York, New Jersey |
|
07093 |
|
|
|
| (Address of Principal Executive Offices) |
|
(Zip Code) |
|
Registrant’s
telephone number, including area code: (201) 868-9400
|
Not Applicable
|
| (Former Name or Former Address, if Changed Since Last Report) |
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:
 |
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| |
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| |
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b)) |
|
|
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. |
Jaclyn,
Inc. (the “Company”) entered into an Agreement of Lease dated as of
September 1, 2006 (the “Lease”) with 195 Spring Valley Associates, LLC
(“Spring Valley”), under which the Company has leased an office building
(including the underlying land and other improvements) located in Maywood, New Jersey (the
“Leased Premises”), to which the Company intends to relocate its
executive offices later this year. The lease has a 10-year term, and grants to the Company
an option to purchase the Leased Premises at any time during the term of the Lease at a
purchase price not to exceed $3,075,000, plus increases based on a multiple of the
consumer price index.
Spring
Valley is the prospective purchaser of the Leased Premises, with the closing of the
purchase expected to take place by the end of August, or shortly thereafter. The Company
intends to provide Spring Valley with $2,200,000 in mortgage financing, to be secured by a
first priority mortgage in favor of the Company on the land, office building, and other
customary rights of the mortgagor.
On
August 22, 2006, the Company issued a press release relating to, among other things, the
matters disclosed above in Item 1.01 of this Current Report on Form 8-K. A copy of that
press release is attached to this Current Report on Form 8-K as Exhibit 99.01 and is
incorporated by reference herein.
| Item 9.01. |
|
Financial Statements and Exhibits. |
| |
(a) |
|
Financial
Statements of Businesses Acquired. Not Applicable. |
| |
(b) |
|
Pro
Forma Financial Information. Not Applicable. |
| |
|
10.01 |
|
Agreement of Lease dated as of
September 1, 2006 between the Company and 195 Spring Valley Associates, LLC. |
| |
|
99.01 |
|
Press Release of the Company dated August 22, 2006. |
SIGNATURES
Pursuant
to the requirements of Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
|
| Date: August 23, 2006 |
JACLYN, INC. |
|
|
| |
By: /s/ Robert Chestnov |
| |
Robert Chestnov, President |
|
EXHIBIT INDEX
| |
|
10.01 |
|
Agreement of Lease dated as of
September 1, 2006 between the Company and 195 Spring Valley Associates, LLC. |
| |
|
99.01 |
|
Press Release of the Company dated August 22, 2006. |