U.S. 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): December 30, 2003
CTI INDUSTRIES CORPORATION
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(Exact Name of Registrant as Specified in its Charter)
Illinois 0-23115 36-2848943
(State or Other (Commission File Number) (IRS Employer
Jurisdiction Identification No.)
Incorporation)
22160 North Pepper Road, Barrington, Illinois 60010
(Address of Principal Executive Offices) (Zip Code)
(847) - 382-1000
(Registrant's Telephone Number, including Area Code)
Item 5 Other Events
On December 30, 2003, CTI Industries Corporation (the "Registrant") announced
that it completed a senior loan facility with Cole Taylor Bank of Chicago,
Illinois. Under an agreement concluded on December 30, 2003, Cole Taylor has
agreed to provide to the Registrant term and revolving loans in the aggregate
maximum amount of $11 million, secured by equipment, inventory, receivables and
other assets of the Registrant. The line includes a term loan of $3.5 million
based on the appraised value of equipment of the Registrant and a revolving line
of credit, up to a maximum amount of $7.5 million, based on advances of up to
85% of eligible receivables and up to 50% of the value of the Registrant's
inventory. The term of the facility is for a period of two years and then is
automatically extended on a year to year basis unless terminated by either party
at the expiration of the initial or any extended term.
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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.
CTI Industries Corporation.
(Registrant)
Date: December 30, 2003 By: /s/ Howard W. Schwan
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Howard W. Schwan, President
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EXHIBIT INDEX
Sequential Exhibit
Page Number Number Document
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5 99.1 Release dated December 30, 2003 -"CTI
Industries Corporation Completes
Financing"
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