UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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 30, 2005
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Hydromer, Inc.
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(Exact name of registrant as specified in its chapter)
New Jersey 0-10683 22-2303576
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
35 Industrial Parkway
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Branchburg, N.J. 08876
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (908) 722-5000
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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 (see General Instruction A.2. below):
( ) 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 14-2(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.
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On June 30, 2005, the Company closed on a long term financing facility of
$1,990,000 in the form of a second mortgage on its property. This facility has a
ten year term with a 6.38% fixed rate. $886,414 will be used to pay off a
construction loan/continuing loan provided by New Millennium Bank and the
remainder will be put in short term securities to be used for working capital
and possible acquisitions. The facility was financed through Wachovia Bank, NA
which also holds a $555,000 first Mortgage on the Company's property.
EXHIBIT INDEX
Exhibit No. Description of Exhibit
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10.ch Loan Agreement dated June 30, 2005 between Wachovia
Bank, N.A. and the Company
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.
Hydromer, Inc.
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Registrant
/s/ Robert Y. Lee
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Robert Y. Lee
Chief Financial Officer
Date July 5, 2005
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