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):
May 20, 2002
eMagin Corporation
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(Exact name of registrant as specified in its charter)
Delaware 000-24757 56-1764501
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(State or Other Jurisdiction (Commission File Number) (I.R.S. Employer
of Incorporation Identification
Number)
2070 Route 52, Hopewell Junction, New York 12533
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(Address of principal executive offices) (zip code)
(845) 892-1900
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(Registrant's telephone number, including area code)
ITEM 5. OTHER EVENTS.
eMagin Corporation ("eMagin" or the "Company") and The Travelers Insurance
Company ("Travelers") entered into an amendment agreement to extend the maturity
date of the Convertible Promissory Note (the "Note") dated August 20, 2001,
issued under the Note Purchase Agreement entered into as of August 20, 2001 by
and between eMagin and Travelers. The amendment agreement extends the maturity
date of the Note from May 20, 2002 to May 31, 2002 and also deletes the
mandatory conversion provisions contained in Section 4 of the Note. eMagin and
Travelers are currently engaging in discussions in respect of the restructuring
of the Note. There can be no assurance that eMagin will be able to arrange a
restructuring of the Note on terms acceptable to eMagin, if at all.
The foregoing description is only a summary of the transaction described
and is qualified in its entirety by the Amendment No. 1 to Convertible
Promissory Note attached as an exhibit to this Form 8-K, which exhibit is
incorporated herein by reference.
ITEM 7. EXHIBITS.
Exhibit
Number Description
10.1 Amendment No. 1 to Convertible Promissory Note dated as of
May 20, 2002.
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
EMAGIN CORPORATION
By: /s/ Edward V. Flynn
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Name: Edward V. Flynn
Title: Chief Financial Officer
Dated May 20, 2002.