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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:right;"><b>&nbsp;</b></p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 14pt; margin: 0pt; text-align: center;"><b>UNITED STATES</b></p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 14pt; margin: 0pt; text-align: center;"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Washington, D.C. 20549</b></p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 14pt; margin: 0pt; text-align: center;"><b>FORM&nbsp;8-K</b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Current Report Pursuant to Section&nbsp;13 or 15(d) of</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>the Securities Exchange Act of 1934</b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Date of Report (Date of earliest event reported): &nbsp;</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">October 3, 2018 (<b>October</b><b>&nbsp;</b><b>1</b><b>, </b><b>201</b><b>8</b><b>)</b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 14pt; margin: 0pt; text-align: center;"><b>LEARNING TREE INTERNATIONAL, INC.</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Exact name of registrant as specified in its charter)</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;text-transform:uppercase;"><b>____________________________</b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Delaware</b></p>
			</td>
			<td style="vertical-align: bottom; width: 32%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>000</b><b>-</b><b>27248</b></p>
			</td>
			<td style="vertical-align: bottom; width: 34%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>95</b><b>-</b><b>3133814</b></p>
			</td>
		</tr>
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			<td style="vertical-align: top; width: 34%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(State or other jurisdiction</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">of Incorporation)</p>
			</td>
			<td style="vertical-align: top; width: 32%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Commission File Number)</p>
			</td>
			<td style="vertical-align: top; width: 34%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(I.R.S. Employer Identification No.)</p>
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			<td style="vertical-align: top; width: 34%;">&nbsp;</td>
			<td style="vertical-align: top; width: 32%;">&nbsp;</td>
			<td style="vertical-align: top; width: 34%;">&nbsp;</td>
		</tr>
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			<td style="vertical-align: top; width: 34%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>13650 Dulles Technology Drive<br>
			Suite 400</b></p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Herndon</b><b>, </b><b>VA</b></p>
			</td>
			<td style="vertical-align: top; width: 32%;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 34%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>20171</b></p>
			</td>
		</tr>
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			<td style="vertical-align: top; width: 34%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Address of principal executive offices)</p>
			</td>
			<td style="vertical-align: top; width: 32%;">&nbsp;</td>
			<td style="vertical-align: top; width: 34%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Zip Code)</p>
			</td>
		</tr>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Registrant&rsquo;s telephone number, including area code: (703) 709-9119</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Not Applicable</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Former name or former address, if changed since last report)</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">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:</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#9744;</p>
			</td>
			<td style="vertical-align: top; width: 95%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p>
			</td>
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			<td style="vertical-align: top; width: 5%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#9744;</p>
			</td>
			<td style="vertical-align: top; width: 95%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</p>
			</td>
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			<td style="vertical-align: top; width: 5%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#9744;</p>
			</td>
			<td style="vertical-align: top; width: 95%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</p>
			</td>
		</tr>
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			<td style="vertical-align: top; width: 5%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#9744;</p>
			</td>
			<td style="vertical-align: top; width: 95%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&sect;240.12b-2 of this chapter). Emerging growth company &#9744;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&nbsp; &#9744;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

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<div id="PGNUM" style="text-align: center; width: 100%">&nbsp;</div>

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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;"><b>Item </b><b>2.03</b><b>.</b></p>
			</td>
			<td style="vertical-align: top; width: 93%;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;"><b>Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant</b><b>.</b></p>
			</td>
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</table>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify; text-indent: 36pt; background-color: rgb(255, 255, 255); color: rgb(0, 0, 0);">Effective October&nbsp;1, 2018, Learning Tree International, Inc. (the &ldquo;<u>Learning Tree</u>&rdquo;) borrowed $1.0&nbsp;million (the &ldquo;<u>October Advance</u>&rdquo;) under its Line of Credit Agreement (the &ldquo;<u>Credit Agreement</u>&rdquo;), dated as of June&nbsp;29, 2018, with The Kevin Ross Gruneich Legacy Trust (the &ldquo;<u>Trust</u>&rdquo;). The Credit Agreement provides Learning Tree with the ability to borrow up to $5.0 million, and immediately following the October Advance, the aggregate principal amount outstanding under the Credit Agreement was $3.0&nbsp;million. As previously disclosed, the principal amount of sums borrowed by Learning Tree under the Credit Agreement may be converted by the Trust into shares of common stock of Learning Tree at any time during the term of the Credit Agreement at a conversion price of $1.00 per share, subject to downward adjustment pursuant to the terms of the Credit Agreement.</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">The foregoing description of certain terms of the Credit Agreement does not purport to be complete and is qualified in its entirety by reference to the description of the Credit Agreement contained in Items&nbsp;1.01 and 2.03 of Learning Tree&rsquo;s Form&nbsp;8-K filed on July&nbsp;2, 2018 and to the Credit Agreement attached as Exhibit 10.2 thereto, which is incorporated herein by reference.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:72pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:-36pt;">&nbsp;</p>

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<div id="PGNUM" style="text-align: center; width: 100%">2</div>

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<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;text-transform:uppercase;"><b>SIGNATURES</b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">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.</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

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			<td style="vertical-align: top; width: 55%;">&nbsp;</td>
			<td colspan="2" style="vertical-align: top; width: 4%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>LEARNING TREE INTERNATIONAL, INC.</b></p>
			</td>
		</tr>
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			<td style="vertical-align: top; width: 55%;">&nbsp;</td>
			<td colspan="2" style="vertical-align: top; width: 4%;">&nbsp;</td>
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			<td style="vertical-align: top; width: 55%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Date: October&nbsp;3, 2018</p>
			</td>
			<td style="vertical-align:top;width:4%;">&nbsp;</td>
			<td style="vertical-align: top; width: 41%;">&nbsp;</td>
		</tr>
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			<td style="vertical-align: top; width: 55%;">&nbsp;</td>
			<td style="vertical-align:top;width:4%;">&nbsp;</td>
			<td style="vertical-align: top; width: 41%;">&nbsp;</td>
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			<td style="vertical-align: top; width: 55%;">&nbsp;</td>
			<td style="vertical-align:top;width:4%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">By:</p>
			</td>
			<td style="vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0); width: 41%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;&nbsp;&nbsp;/s/ David W. Asai</p>
			</td>
		</tr>
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			<td style="vertical-align: top; width: 55%;">&nbsp;</td>
			<td style="vertical-align:top;width:4%;">&nbsp;</td>
			<td style="vertical-align: top; border-bottom: 1px none rgb(0, 0, 0); width: 41%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-indent: 9pt;">David W. Asai, Chief Financial Officer</p>
			</td>
		</tr>

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ltre20181003_8k.htm
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
Date of Report (Date of earliest event reported):
October 3, 2018 (
October
1
,
201
8
)
LEARNING TREE INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
____________________________
Delaware
000
-
27248
95
-
3133814
(State or other jurisdiction
of Incorporation)
(Commission File Number)
(I.R.S. Employer Identification No.)
13650 Dulles Technology Drive
Suite 400
Herndon
,
VA
20171
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code: (703) 709-9119
Not Applicable
(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:
☐
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))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐
Item
2.03
.
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
.
Effective October 1, 2018, Learning Tree International, Inc. (the "
Learning Tree
") borrowed $1.0 million (the "
October Advance
") under its Line of Credit Agreement (the "
Credit Agreement
"), dated as of June 29, 2018, with The Kevin Ross Gruneich Legacy Trust (the "
Trust
"). The Credit Agreement provides Learning Tree with the ability to borrow up to $5.0 million, and immediately following the October Advance, the aggregate principal amount outstanding under the Credit Agreement was $3.0 million. As previously disclosed, the principal amount of sums borrowed by Learning Tree under the Credit Agreement may be converted by the Trust into shares of common stock of Learning Tree at any time during the term of the Credit Agreement at a conversion price of $1.00 per share, subject to downward adjustment pursuant to the terms of the Credit Agreement.
The foregoing description of certain terms of the Credit Agreement does not purport to be complete and is qualified in its entirety by reference to the description of the Credit Agreement contained in Items 1.01 and 2.03 of Learning Tree's Form 8-K filed on July 2, 2018 and to the Credit Agreement attached as Exhibit 10.2 thereto, which is incorporated herein by reference.
2
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.
LEARNING TREE INTERNATIONAL, INC.
Date: October 3, 2018
By:
/s/ David W. Asai
David W. Asai, Chief Financial Officer