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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) September 27, 2010
QUIDEL CORPORATION
(Exact Name of Registrant as Specified in Charter)
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Delaware
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0-10961
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94-2573850 |
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(State or Other Jurisdiction
of Incorporation)
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(Commission File
Number)
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(IRS Employer
Identification No.) |
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10165 McKellar Court, San Diego CA
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92121 |
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(Address of Principal Executive Offices)
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(Zip Code) |
(858) 552-1100
(Registrants telephone number, including area code)
(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):
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o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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ITEM 1.01 |
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Entry into a Material Definitive Agreement. |
On September 27, 2010, Quidel entered into an amendment (the Amendment) to its Credit
Agreement, dated as of October 8, 2008, by and among Quidel, certain lenders from time to time a
party thereto, and Bank of America, N.A., as Agent, Swing Line Lender and L/C Issuer (the Credit
Agreement). The Amendment waives Quidels compliance with the Funded Debt to EBITDA Ratio and
Interest Coverage Ratio (as those terms are defined in the Credit Agreement) for the measurement
date occurring on December 31, 2010. The Amendment also increases the applicable interest rate
under the Credit Agreement by 50 basis points commencing on the date of the Amendment until Quidel
delivers its compliance certificate for the first quarter of 2011 showing compliance with both
covenants. As of the date of the Amendment, Quidel was in compliance with both the Funded Debt to
EBITDA Ratio and Interest Coverage Ratio and Quidel anticipates being in compliance with both
covenants as of the next measurement date occurring on September 30, 2010.
The foregoing description of the Amendment does not purport to be complete and is qualified in
its entirety by reference to the terms and conditions of the Amendment, a copy of which is filed as
Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by this reference.
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ITEM 9.01 |
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Financial Statements and Exhibits. |
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10.1 |
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Second Amendment to Credit Agreement, dated as of September 27, 2010, by and
among Quidel Corporation, the financial institutions listed on the signature pages
thereof and Bank of America, N.A., as agent for the lenders, and each of the guarantors
listed on the signature pages thereof. |
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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.
Dated: September 28, 2010
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QUIDEL CORPORATION
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/s/ John M. Radak
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By: John M. Radak |
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Its: Chief Financial Officer |
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