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) December 19, 2008
MGP
Ingredients, Inc.
(Exact
name of registrant as specified in its charter)
|
KANSAS
|
0-17196
|
48-0531200
|
|
(State
or other jurisdiction
of
incorporation)
|
(Commission
File
Number)
|
(IRS
Employer
Identification
No.)
|
100
Commercial Street
Box
130
Atchison,
Kansas 66002
(Address
of principal executive offices) (Zip Code)
(913)
367-1480
(Registrant's
telephone number, including area code)
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 (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 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
Reference is made to Note 4 of our
Consolidated Financial Statements in our Annual Report on Form 10-K for the
fiscal year ended June 30, 2008, to Note 2 of our Notes to Condensed
Consolidated Financial Statements in our Quarterly Report on Form 10-Q for the
period ended September 30, 2008 and to Item 1.01 of our Current
Report on Form 8-K dated November 7, 2008 for a description of our Credit
Agreement. On December 19, 2008, our lenders agreed to a Third
Amendment to the Credit Agreement which permits us, on a temporary basis, to
obtain loans and other credit extensions under the Credit Agreement in amounts
in excess of the borrowing base. Until January 30, 2009, we may obtain credit
extensions of $3 million over the borrowing base; thereafter, until
February 26, 2009, we may obtain credit extensions of $1.5 million over the
borrowing base; and thereafter we may obtain credit extensions of $500,000 over
the borrowing base. The Third Amendment does not affect the
standstill period to which we are presently subject or otherwise impose any duty
on any lender to extend credit to us beyond any date after which such lender is
not obligated to extend credit pursuant to the Credit Agreement as in effect
immediately prior to the Third Amendment. As of December 17,
2008, after giving effect to the Third Amendment, the amount
available to us under our Credit Agreement was $44,737,480 and the amount of our
outstanding borrowings under the Credit Agreement was $42,902,983.
Item
9.01 Financial
Statements and Exhibits
(d) Exhibits
4.1 Third
Amendment to Credit Agreement dated as of December 19, 2008.
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.
MGP INGREDIENTS,
INC.
Date: December
19,
2008 By : /s/ Timothy W.
Newkirk
President
and Chief Executive Officer