content: 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
  
  
  
       February 13, 1997                            0-8574
       Date of Report (Date               Commission File Number
  of earliest event reported)
  
  
                          Microwave Power Devices, Inc.
            (Exact name of registrant as specified in its charter)
  
  
  
  Delaware                                          13-3622306     
  (State or other jurisdiction                      (I.R.S.)
  Employer Identification Number
  of incorporation or organization)
  
  
                          49 Wireless Boulevard
                     Hauppague, New York  11788-3935
  
                     (Address of Principal Executive                
                        Offices) (Zip Code)
  
  
  
                           (516) 231-1400
       (Registrant's telephone number, including area code)
  
  
  
  
  
  
  
  
  
  
  Item 5.   Other Events
  
       On February 13, 1997, the Registrant's operating subsidiary,
  MPD Technologies, Inc. ("MPDT"), entered into a new $13,000,000
  credit facility (the "Facility") with IBJ Schroder Bank & Trust
  Company ("IBJS").  The Facility consists of a $10,300,000
  revolving credit loan and a $2,700,000 term loan.  The Registrant
  has guaranteed all of the obligations of MPDT under the Facility. 
  MPDT used a portion of the proceeds to repay its existing bank
  line in full.
  
       The loans bear interest at a rate equal to the higher of the
  base commercial lending rate of IBJS and the Federal Funds Rate
  in effect plus 0.50% plus a) 1.25% for the term loan and b) 1.0%
  for the revolving credit loan.  Aggregate borrowings under the
  revolving credit loan are limited by a borrowing base calculation
  to the sum of 85% of eligible accounts receivable and 40% of
  eligible raw materials and work-in-process inventory (borrowings
  based on eligible inventory are limited to $6,000,000).  Payments
  of principal on the term loan are due in monthly installments of
  $50,000 on the first of each month commencing April, 1997.  The
  Facility matures February 12, 2000, and is renewable thereafter
  for one-year terms.
  
       The Facility contains certain covenants including a covenant
  to maintain a certain fixed charge coverage ratio.  The Facility
  also contains restrictions on the payment of dividends.  The
  Facility is collateralized by accounts receivable, inventory,
  equipment and certain other assets of MPDT.
  
  
  Item 7.   Exhibits
  
  10.1   Loan and Security Agreement dated as of February 13, 1997
  among IBJ Schroder Bank & Trust Company, as Lender and Agent, and
  MPD Technologies, Inc.
  
  10.2   Guaranty by Microwave Power Devices, Inc. dated as of
  February 13, 1997.
  
  
  
  
  
  
                                     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 thereunto duly authorized.
  
                                MICROWAVE POWER DEVICES, INC.
  
                                By: /s/ Paul E. Donofrio
                                        Vice President Finance and
                                        Chief Financial Officer
  February 27, 1997
  
  
  
  
  
                           EXHIBIT INDEX
  
  
  
  Exhibit                  Description              
  
  
  10.1 Loan and Security Agreement dated as 
       of February 13, 1997 among INJS Schroder 
       Bank & Trust Company, as Lender and Agent, 
       and MPD Technologies, Inc.    
  
  10.2 Guaranty by Microwave Power Devices, Inc. 
       dated as of February 13, 1997.
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metadata_filer: {"company-data": {"conformed-name": "MICROWAVE POWER DEVICES INC", "cik": "0000065781", "assigned-sic": "3663", "irs-number": "133622306", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-08574", "film-number": "97551396"}, "business-address": {"street1": "49 WIRELESS BLVD", "city": "HAUPPAUGE", "state": "NY", "zip": "11788-3935", "phone": "5162311400"}, "mail-address": {"street1": "49 WIRELESS BLVD", "street2": "49 WIRELESS BLVD", "city": "HAUPPAUGE", "state": "NY", "zip": "11788-3955"}}
text: 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
  
       February 13, 1997                            0-8574
       Date of Report (Date               Commission File Number
  of earliest event reported)
  
                          Microwave Power Devices, Inc.
            (Exact name of registrant as specified in its charter)
  
  Delaware                                          13-3622306     
  (State or other jurisdiction                      (I.R.S.)
  Employer Identification Number
  of incorporation or organization)
  
                          49 Wireless Boulevard
                     Hauppague, New York  11788-3935
  
                     (Address of Principal Executive                
                        Offices) (Zip Code)
  
                           (516) 231-1400
       (Registrant's telephone number, including area code)
  
  Item 5.   Other Events
  
       On February 13, 1997, the Registrant's operating subsidiary,
  MPD Technologies, Inc. ("MPDT"), entered into a new $13,000,000
  credit facility (the "Facility") with IBJ Schroder Bank & Trust
  Company ("IBJS").  The Facility consists of a $10,300,000
  revolving credit loan and a $2,700,000 term loan.  The Registrant
  has guaranteed all of the obligations of MPDT under the Facility. 
  MPDT used a portion of the proceeds to repay its existing bank
  line in full.
  
       The loans bear interest at a rate equal to the higher of the
  base commercial lending rate of IBJS and the Federal Funds Rate
  in effect plus 0.50% plus a) 1.25% for the term loan and b) 1.0%
  for the revolving credit loan.  Aggregate borrowings under the
  revolving credit loan are limited by a borrowing base calculation
  to the sum of 85% of eligible accounts receivable and 40% of
  eligible raw materials and work-in-process inventory (borrowings
  based on eligible inventory are limited to $6,000,000).  Payments
  of principal on the term loan are due in monthly installments of
  $50,000 on the first of each month commencing April, 1997.  The
  Facility matures February 12, 2000, and is renewable thereafter
  for one-year terms.
  
       The Facility contains certain covenants including a covenant
  to maintain a certain fixed charge coverage ratio.  The Facility
  also contains restrictions on the payment of dividends.  The
  Facility is collateralized by accounts receivable, inventory,
  equipment and certain other assets of MPDT.
  
  Item 7.   Exhibits
  
  10.1   Loan and Security Agreement dated as of February 13, 1997
  among IBJ Schroder Bank & Trust Company, as Lender and Agent, and
  MPD Technologies, Inc.
  
  10.2   Guaranty by Microwave Power Devices, Inc. dated as of
  February 13, 1997.
  
                                     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 thereunto duly authorized.
  
                                MICROWAVE POWER DEVICES, INC.
  
                                By: /s/ Paul E. Donofrio
                                        Vice President Finance and
                                        Chief Financial Officer
  February 27, 1997
  
                           EXHIBIT INDEX
  
  Exhibit                  Description              
  
  10.1 Loan and Security Agreement dated as 
       of February 13, 1997 among INJS Schroder 
       Bank & Trust Company, as Lender and Agent, 
       and MPD Technologies, Inc.    
  
  10.2 Guaranty by Microwave Power Devices, Inc. 
       dated as of February 13, 1997.