false0000008328UTfalse 0000008328 2023-05-05 2023-05-05
 
 
 
 
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 e
ven
t reported):
May 5, 2023
 
 
Commission F
ile
Number
000-31380
 
 
APPLIED MINERALS, INC.
(Exact name of registrant as specified in its charter)
 
Delaware
 
82-0096527
(State or
other
jurisdiction of
incorporation or organization)
 
(I.R.S. Employer Identification No.)
 
1200 Silver City Road, PO Box 432, Eureka, UT
 
84628
(Address of principal executive offices)
 
(Zip Code)
 
 
(212) 226-4256
 
 
(Issuer’s 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):
 
¨
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 2.04 Triggering Events that Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
 
On May 5, 2023, the Company received a Notice of Default from holders of its 10% PIK-Election Convertible Notes due May 1, 2023 (“Series A Notes”). The Company failed to make payment of principal and interest under the terms of the Series A Notes, which have a Stated Maturity Date of May 1, 2023, thereby causing an Event of Default under section 7(a) of the Series A Notes. Under the Event of Default, all outstanding principal and interest of the Series A Notes, totaling approximately $31.3 million, are immediately due.
 
SIGNATURES
 
In accordance with 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 thereunto duly authorized.
 
 
 
 
APPLIED MINERALS, INC.
 
 
 
 
Dated:
May 11, 2023
 
/s/ CHRISTOPHER T. CARNEY
 
 
 
By:  Christopher T. Carney
 
 
 
President and Chief Executive Officer
 
Applied Minerals (CE) (USOTC:AMNL)
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