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<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-align:center;
page-break-after:avoid'><b><font style="font-size: 11.0pt">SECURITIES AND
EXCHANGE COMMISSION<br>Washington, D.C. 20549</font></b></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-align:center;
page-break-after:avoid'><b><font style="font-size: 11.0pt">FORM 8-K</font></b></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-top:12.0pt;margin-right:0in;margin-bottom:0in;
margin-left:0in;margin-bottom:.0001pt;text-align:center;page-break-after:avoid'>
<b><font style="font-size: 11.0pt">CURRENT REPORT</font></b></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-align:center;
page-break-after:avoid'><b><font style="font-size: 11.0pt">PURSUANT TO SECTION
13 OR 15(d) OF<br>THE SECURITIES EXCHANGE ACT OF 1934</font></b></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-top:12.0pt;margin-right:0in;margin-bottom:0in;margin-left:
0in;margin-bottom:.0001pt;text-align:justify'><font style="font-size: 11.0pt">&nbsp;</font></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-align:center'>
<font style="font-size: 11.0pt">Date of Report</font></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-align:center'>
<font style="font-size: 11.0pt">(Date of earliest event reported)</font></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-align:center'>
<b><font style="font-size: 11.0pt">June 30, 2009</font></b></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-align:center;
page-break-after:avoid'>&nbsp;</p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-align:center;
page-break-after:avoid'><b><u><font style="font-size: 11.0pt">Pro-Dex, Inc.</font></u></b></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Times New Roman";margin-bottom:.0001pt;text-align:center;
page-break-after:avoid; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">(Exact name of registrant
as specified in its charter)</font></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-align:justify'>
<font style="font-size: 11.0pt">&nbsp;</font></p>
<div align="left">
<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%"
 style='width:100.0%;border-collapse:collapse'>
	<tr>
		<td width=491 valign=top style='padding-top:0in; padding-bottom:0in'>
		<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-align:center'>
		<u><font style="font-size: 11.0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>Colorado&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b></font></u></p>
		<p style='margin-right:0in;margin-left:0in;font-family:"Times New Roman";margin-bottom:.0001pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(State or other jurisdiction</font></p>
		<p style='margin-right:0in;margin-left:0in;font-family:"Times New Roman";margin-bottom:.0001pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">of incorporation)</font></p></td>
		<td valign=top style='padding:0in 5.4pt 0in 5.4pt'>
		<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-align:center'>
		<b><u><font style="font-size: 11.0pt">0-14942</font></u></b></p>
		<p style='margin-right:0in;margin-left:0in;font-family:"Times New Roman";margin-bottom:.0001pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(Commission</font></p>
		<p style='margin-right:0in;margin-left:0in;font-family:"Times New Roman";margin-bottom:.0001pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">File Number)</font></p></td>
		<td valign=top style='padding:0in 5.4pt 0in 5.4pt'>
		<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-align:center'>
		<b><u><font style="font-size: 11.0pt">84-1261240</font></u></b></p>
		<p style='margin-right:0in;margin-left:0in;font-family:"Times New Roman";margin-bottom:.0001pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(IRS Employer</font></p>
		<p style='margin-right:0in;margin-left:0in;font-family:"Times New Roman";margin-bottom:.0001pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Identification No.)</font></p></td>
	</tr>
</table>
</div>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-top:12.0pt;margin-right:0in;margin-bottom:0in;
margin-left:0in;margin-bottom:.0001pt;text-align:center'><b><u>
<font style="font-size: 11.0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2361 McGaw Avenue Irvine, California,&nbsp;&nbsp;&nbsp;&nbsp; 92614&nbsp;&nbsp;&nbsp;</font></u></b><u><font style="font-size: 11.0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<br></font></u><font size="2">(Address of principal executive
offices)&nbsp; &nbsp;&nbsp; (Zip Code)</font></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-top:12.0pt;margin-right:0in;margin-bottom:0in;
margin-left:0in;margin-bottom:.0001pt;text-align:center'><b>
<font style="font-size: 11.0pt">(949) 769-3200</font></b><font style="font-size: 11.0pt">
</font></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Times New Roman";margin-top:12.0pt;margin-right:0in;margin-bottom:0in;
margin-left:0in;margin-bottom:.0001pt;text-align:center'>
<font size="2">Registrant&#8217;s telephone number, including area
code</font></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-align:justify'>
<font style="font-size: 11.0pt">&nbsp;</font></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-align:justify'>
<font style="font-size: 11.0pt">&nbsp;</font></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-top:6.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;
margin-bottom:.0001pt;text-align:justify;text-indent:10.5pt'>
<font style="font-size: 11.0pt">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):</font></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-align:justify;line-height:13.0pt'>
<font style="font-size: 11.0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>
<font face="Wingdings">&#111;</font><font style="font-size: 11.0pt">&nbsp;&nbsp; Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)</font></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-align:justify;line-height:13.0pt'>
<font style="font-size: 11.0pt">&nbsp;</font></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-align:justify;line-height:13.0pt'>
<font style="font-size: 11.0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>
<font face="Wingdings">&#111;</font><font style="font-size: 11.0pt">&nbsp;&nbsp; Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)</font></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-align:justify;line-height:13.0pt'>
<font style="font-size: 11.0pt">&nbsp;</font></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-align:justify;line-height:13.0pt'>
<font style="font-size: 11.0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>
<font face="Wingdings">&#111;</font><font style="font-size: 11.0pt">&nbsp;&nbsp; Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</font></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-align:justify;line-height:13.0pt'>
<font style="font-size: 11.0pt">&nbsp;</font></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-align:justify;line-height:13.0pt'>
<font style="font-size: 11.0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>
<font face="Wingdings">&#111;</font><font style="font-size: 11.0pt">&nbsp;&nbsp; Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</font></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-align:justify;line-height:13.0pt'>
&nbsp;</p><hr>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-align:justify;line-height:13.0pt'>
&nbsp;</p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-align:justify;line-height:13.0pt'>
&nbsp;</p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-align:justify;line-height:13.0pt'>
&nbsp;</p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	&nbsp;</div>
<hr color="#000080"><br clear=all
style='page-break-before:always'>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-top:12.0pt;margin-right:0in;margin-bottom:0in;margin-left:
0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-align:justify'>
<b><font style="font-size: 10.0pt">Item 2.03.&nbsp;&nbsp; Creation of a Direct Financial
Obligation or an Obligation under an Off-Balance Sheet Arrangement of a
Registrant</font></b></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";text-align:justify;text-indent:38.5pt'>
<font style="font-size: 10.0pt">On
June 30, 2009, Pro-Dex, Inc. (the &#8220;Company&#8221;) amended its November
17, 2007 Credit Agreement (the &#8220;Credit Agreement&#8221;) with Wells Fargo
Bank, N.A. (the &#8220;Bank&#8221;), effective as of June 22, 2009 to waive the
existing covenant violations as of March 31, 2009 and referenced by the
Forbearance Agreement dated May 12, 2009.&nbsp; On July 2, 2009, the Credit
agreement was further amended to change two of the existing covenant
definitions.&nbsp; </font></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";text-align:justify;text-indent:38.5pt'>
<font style="font-size: 10.0pt">The
amendments provided for;</font></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-left:.75in;text-align:justify;text-indent:-.5in'>
<font style="font-size: 10.0pt">A)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Bank to waive the covenant
violations that were subject to the Forbearance agreement dated May 12, 2009.</font></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-left:.75in;text-align:justify;text-indent:-.5in'>
<font style="font-size: 10.0pt">B)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Line of Credit to be modified
to change the allowable indebtedness under the Credit Line Note from time to
time at its option any amounts up to $1,000,000.</font></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-left:.75in;text-align:justify;text-indent:-.5in'>
<font style="font-size: 10.0pt">C)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;An introduction of a borrowing
base if the outstanding borrowings under the line exceed $500,000. If
borrowings under the Credit Line exceed $500,000, the maximum amount of
borrowing would be limited to 70% of the eligible accounts receivable plus 40%
of the eligible inventory.</font></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-left:.75in;text-align:justify;text-indent:-.5in'>
<font style="font-size: 10.0pt">D)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The income based covenants to be
adjusted to exclude the non-cash charges taken in the quarter ended March 31,
2009 of $1,930,000 for the deferred tax asset allowance and $997,000 for the
impairment of the patent asset.</font></p><hr>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";text-align:justify;text-indent:38.5pt'>
<font style="font-size: 10.0pt">Among
other remedies offered to the Bank upon an event of default under the Loan
Documents, the Bank may, at its option, cause the entire balance of principal,
interest, fees and other charges under the Loan Documents or any other
agreement between the Company and the Bank to become immediately due and
payable.&nbsp; Pursuant to the terms of the Loan Documents, the above
referenced events of default, as well as all other provisions of the Credit
Agreement, shall apply to the Company&#8217;s commercial credit accommodations
from the Bank, whether now existing or hereafter established.</font></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-top:12.0pt;margin-right:0in;margin-bottom:0in;margin-left:
0in;margin-bottom:.0001pt;text-align:justify;text-indent:40.5pt'>
<font style="font-size: 10.0pt">Copies of the Amendments are attached hereto as
Exhibits 10.1 and 10.2, respectively, and are incorporated herein by reference.
The foregoing descriptions of each of the Loan Documents are qualified in their
entirety by reference to the full text of the respective agreements.</font></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-top:12.0pt;margin-right:0in;margin-bottom:0in;margin-left:
0in;margin-bottom:.0001pt;text-align:justify;text-indent:40.5pt'>
&nbsp;</p>
<hr>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-top:12.0pt;margin-right:0in;margin-bottom:0in;margin-left:
0in;margin-bottom:.0001pt;text-align:justify;text-indent:40.5pt'>
&nbsp;</p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-top:12.0pt;margin-right:0in;margin-bottom:0in;margin-left:
0in;margin-bottom:.0001pt;text-align:justify;text-indent:40.5pt'>
<font style="font-size: 10.0pt">On July 6, 2009, Pro-Dex, Inc. issued a press release
announcing the changes to the bank agreement and preliminary financial data for
its fiscal fourth quarter ending June 30, 2009.&nbsp; A copy of the news
release is attached to this Form 8-K as exhibit 99.1</font></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-top:12.0pt;margin-right:0in;margin-bottom:0in;margin-left:
1.0in;margin-bottom:.0001pt;text-indent:-1.0in'>&nbsp;</p><hr>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-top:12.0pt;margin-right:0in;margin-bottom:0in;margin-left:
1.0in;margin-bottom:.0001pt;text-indent:-1.0in'>&nbsp;</p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-top:12.0pt;margin-right:0in;margin-bottom:0in;margin-left:
1.0in;margin-bottom:.0001pt;text-indent:-1.0in'>&nbsp;</p><hr color="#000080"><p style="page-break-after: always"></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-top:12.0pt;margin-right:0in;margin-bottom:0in;margin-left:
1.0in;margin-bottom:.0001pt;text-indent:-1.0in'>&nbsp;</p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-top:12.0pt;margin-right:0in;margin-bottom:0in;margin-left:
1.0in;margin-bottom:.0001pt;text-indent:-1.0in'><b>
<font style="font-size: 10.0pt">Item
9.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial Statements and Exhibits.</font></b></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-top:12.0pt;margin-right:0in;margin-bottom:0in;margin-left:
1.0in;margin-bottom:.0001pt;text-indent:-1.0in'><b>
<font style="font-size: 10.0pt">(d)
Exhibits:</font></b></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;page-break-after:avoid'>
<font style="font-size: 11.0pt">&nbsp;</font></p>
<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%"
 style='width:100.0%;border-collapse:collapse'>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:.05in 5.75pt .05in 5.75pt'>
		<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-top:12.0pt;margin-right:0in;margin-bottom:0in;margin-left:
  0in;margin-bottom:.0001pt;text-align:justify'><u>
		<font style="font-size: 10.0pt">Number</font></u></p></td>
		<td valign=top style='padding:.05in 5.75pt .05in 5.75pt'>
		<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-top:12.0pt;margin-right:0in;margin-bottom:0in;margin-left:
  0in;margin-bottom:.0001pt;text-align:justify'><font style="font-size: 10.0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  		<u>Description</u></font></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:.05in 5.75pt .05in 5.75pt'>
		<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-align:justify'>
		<font style="font-size: 10.0pt">10.1</font></p></td>
		<td valign=top style='padding:.05in 5.75pt .05in 5.75pt'>
		<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";'>
		<font style="font-size: 10.0pt">Third Amendment to Credit Agreement
  effective June 22, 2009, dated June 30, 2009, by Pro-Dex, Inc. in favor of
  Wells Fargo Bank, National Association.</font></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:.05in 5.75pt .05in 5.75pt'>
		<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-align:justify'>
		<font style="font-size: 10.0pt">10.2</font></p></td>
		<td valign=top style='padding:.05in 5.75pt .05in 5.75pt'>
		<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";'>
		<font style="font-size: 10.0pt">Fourth Amendment to Credit Agreement
  effective June 30, 2009, dated July 2, 2009, by Pro-Dex, Inc. in favor of
  Wells Fargo Bank, National Association.</font></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:.05in 5.75pt .05in 5.75pt'>
		<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-align:justify'>
		<font style="font-size: 10.0pt">99.1</font></p></td>
		<td valign=top style='padding:.05in 5.75pt .05in 5.75pt'>
		<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";'>
		<font style="font-size: 10.0pt">Press release dated July 6, 2009 of Pro-Dex
  Inc.</font></p></td>
	</tr>
</table>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-top:6.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;
margin-bottom:.0001pt;text-align:justify'><font style="font-size: 11.0pt">&nbsp;</font></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-top:12.0pt;margin-right:0in;margin-bottom:0in;
margin-left:0in;margin-bottom:.0001pt;text-align:center;page-break-after:avoid'>
<b><font style="font-size: 10.0pt">SIGNATURE</font></b></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-indent:.5in'>
<font style="font-size: 10.0pt">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.</font></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-indent:.5in'>
&nbsp;</p>
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&nbsp;</p>
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<font style="font-size: 10.0pt">&nbsp;&nbsp; </font></p>
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		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>
		<font style="font-size: 10.0pt">Date:&nbsp; July 6, 2009</font></p></td>
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		<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";'>
		<font style="font-size: 10.0pt">Pro-Dex, Inc.</font></p></td>
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		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
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		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;&nbsp;&nbsp;
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		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
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		<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";'>
		<font style="font-size: 10.0pt">By: <u>/s/ Jeffrey J. Ritchey </u>
		</font></p></td>
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		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td width="81%" style='width:81.14%;padding:.75pt .75pt .75pt .75pt'>
		<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";'>
		<font style="font-size: 10.0pt">Jeffrey J. Ritchey, Chief Financial
  Officer,&nbsp; <br>Secretary and Vice President</font></p></td>
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Prepared by E-Services - www.edgar2.com
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)
June 30, 2009
Pro-Dex, Inc.
(Exact name of registrant
as specified in its charter)
Colorado
(State or other jurisdiction
of incorporation)
0-14942
(Commission
File Number)
84-1261240
(IRS Employer
Identification No.)
2361 McGaw Avenue Irvine, California,     92614
(Address of principal executive
offices)     (Zip Code)
(949) 769-3200
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 (see General Instruction A.2. below):
o
Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))
o
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
June 30, 2009, Pro-Dex, Inc. (the "Company") amended its November
17, 2007 Credit Agreement (the "Credit Agreement") with Wells Fargo
Bank, N.A. (the "Bank"), effective as of June 22, 2009 to waive the
existing covenant violations as of March 31, 2009 and referenced by the
Forbearance Agreement dated May 12, 2009.  On July 2, 2009, the Credit
agreement was further amended to change two of the existing covenant
definitions.
The
amendments provided for;
A)           The Bank to waive the covenant
violations that were subject to the Forbearance agreement dated May 12, 2009.
B)           The Line of Credit to be modified
to change the allowable indebtedness under the Credit Line Note from time to
time at its option any amounts up to $1,000,000.
C)            An introduction of a borrowing
base if the outstanding borrowings under the line exceed $500,000. If
borrowings under the Credit Line exceed $500,000, the maximum amount of
borrowing would be limited to 70% of the eligible accounts receivable plus 40%
of the eligible inventory.
D)           The income based covenants to be
adjusted to exclude the non-cash charges taken in the quarter ended March 31,
2009 of $1,930,000 for the deferred tax asset allowance and $997,000 for the
impairment of the patent asset.
Among
other remedies offered to the Bank upon an event of default under the Loan
Documents, the Bank may, at its option, cause the entire balance of principal,
interest, fees and other charges under the Loan Documents or any other
agreement between the Company and the Bank to become immediately due and
payable.  Pursuant to the terms of the Loan Documents, the above
referenced events of default, as well as all other provisions of the Credit
Agreement, shall apply to the Company's commercial credit accommodations
from the Bank, whether now existing or hereafter established.
Copies of the Amendments are attached hereto as
Exhibits 10.1 and 10.2, respectively, and are incorporated herein by reference.
The foregoing descriptions of each of the Loan Documents are qualified in their
entirety by reference to the full text of the respective agreements.
On July 6, 2009, Pro-Dex, Inc. issued a press release
announcing the changes to the bank agreement and preliminary financial data for
its fiscal fourth quarter ending June 30, 2009.  A copy of the news
release is attached to this Form 8-K as exhibit 99.1
Item
9.01.       Financial Statements and Exhibits.
(d)
Exhibits:
Number
Description
10.1
Third Amendment to Credit Agreement
  effective June 22, 2009, dated June 30, 2009, by Pro-Dex, Inc. in favor of
  Wells Fargo Bank, National Association.
10.2
Fourth Amendment to Credit Agreement
  effective June 30, 2009, dated July 2, 2009, by Pro-Dex, Inc. in favor of
  Wells Fargo Bank, National Association.
99.1
Press release dated July 6, 2009 of Pro-Dex
  Inc.
SIGNATURE
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.
Date:  July 6, 2009
Pro-Dex, Inc.
By:
/s/ Jeffrey J. Ritchey
Jeffrey J. Ritchey, Chief Financial
  Officer,
Secretary and Vice President