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
May
27, 2005
Date of
Report (Date of earliest event reported)
Commission
File Number: 000-27743
PAC-WEST
TELECOMM, INC.
(Exact
name of registrant as specified in its charter)
|
California |
68-0383568 |
|
(State
or other jurisdiction of |
(I.R.S.
Employer Identification No.) |
|
incorporation
or organization) |
|
|
1776
W. March Lane, Suite 250 |
|
|
Stockton,
California |
95207 |
|
(Address
of principal executive offices) |
(Zip
Code) |
(209)
926-3300
(Registrant’s
telephone number, including area code)
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:
|
¨ |
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
2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
On May
27, 2005, Pac-West Telecomm, Inc. (“Pac-West”) entered into a secured borrowing
arrangement with Merrill Lynch Capital (“Merrill Lynch”), a division of Merrill
Lynch Business Financial Services Inc., pursuant to which Pac-West borrowed $1.9
million at a fixed rate of 8.6%. The principal and accrued interest shall be
payable in 36 consecutive monthly installments commencing July 1, 2005. Pac-West
has the option to prepay the outstanding balance after 18 months but prior to 24
months subject to a premium of 3%, and if paid thereafter, accompanied by a
premium of 1%. The borrowing arrangement is secured by telecommunications
switching and computer equipment.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.
PAC-WEST
TELECOMM, INC.
(Registrant)
Dated:
June 1, 2005
|
By:
/s/ Peggy Mc Gaw |
|
Peggy
Mc Gaw |
|
Vice
President Finance |