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Date of Report (Date of earliest event reported): August 31, 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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Jaclyn, Inc. (the “Company”) previously announced it had entered into an Agreement of Lease dated as of September 1, 2006 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.
On August 31, 2006, Spring Valley purchased the Leased Premises. At the closing of the purchase, the Company provided Spring Valley with $2,200,000 in mortgage financing, which is secured by a first priority mortgage in favor of the Company on the land, office building, and other customary rights of the mortgagor. A copy of the mortgage note of Spring Valley and the mortgage granted by Spring Valley in favor of the Company are attached to this Current Report on Form 8-K as Exhibits 10.01 and 10.02, respectively.
(a) Financial Statements of Businesses Acquired. Not Applicable.
(b) Pro Forma Financial Information. Not Applicable.
(c) Exhibits.
| Exhibit No. | Description | |
| 10.01 | Mortgage dated as of August 31, 2006 of Landlord in favor of the Company. | |
| 10.02 | Promissory Note dated as of August 31, 2006 of Landlord in favor of the Company. | |
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: September 1, 2006 | JACLYN, INC. |
By: /s/ Robert Chestnov Robert Chestnov, President |
EXHIBIT INDEX
| Exhibit No. | Description | |
| 10.01 | Mortgage dated as of August 31, 2006 of Landlord in favor of the Company. | |
| 10.02 | Promissory Note dated as of August 31, 2006 of Landlord in favor of the Company. | |