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<p style="font-family:'Times New Roman', Times, serif;font-size:12pt;margin:0pt;text-align:center;"><font style="font-family:Times New Roman;font-size:14pt;"><b>UNITED STATES</b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:12pt;margin:0pt;text-align:center;"><font style="font-family:Times New Roman;font-size:14pt;"><b>SECURITIES AND EXCHANGE COMMISSION </b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><font style="font-family:Times New Roman;font-size:12pt;"><b>WASHINGTON, D.C. 20549 </b></font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:18pt;margin:0pt;text-align:center;"><b>FORM 8-K </b></p>

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

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

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>PURSUANT TO SECTION 13 OR 15(D) OF THE </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:0pt;text-align:center;"><b>&nbsp;</b></p>

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

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

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>August </b><b>12</b><b>, 2019 </b><b>(</b><b>August </b><b>8</b><b>, 2019)</b></p>

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

<p style="font-family:'Times New Roman', Times, serif;font-size:24pt;margin:0pt;text-align:center;"><b>SMTC CORPORATION </b></p>

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

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(Exact name of registrant as specified in its charter) </b></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>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>0</b><b>00</b><b>-31051</b></p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>98-0197680</b></p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(State or other jurisdiction of incorporation or organization)</b></p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(Commission File Number)</b></p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(I.R.S. Employer Identification No.)</b></p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>7050 Woodbine Avenue, Suite 300</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Markham, Ontario, Canada L3R </b><b>4G8</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(Address of Principal Executive Offices</b><b>, and </b><b>Zip Code) </b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(905) 479-1810</b><br>
(<b>Registrant&#8217;s telephone number, including area code</b>)</p>

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

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

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">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 (<i>see </i>General Instruction A.2. below):</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:24.5pt;">&#9744; Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:24.5pt;">&#9744; Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:24.5pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:24.5pt;">&#9744; Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:24.5pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:24.5pt;">&#9744; Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Securities registered pursuant to Section 12(b) of the Act:</p>

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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Title of each class</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Name of each exchange on which registered</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Common Stock, par value $0.01 per share</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">SMTX</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Nasdaq Global Market</p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

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

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:24.5pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:right;text-indent:24.5pt;">Emerging Growth Company&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9744;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:24.5pt;">&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 standard provided pursuant to Section 13(a) of the Exchange Act. &#9744;</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 1.01</b></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>Entry into a Material Definitive Agreement.</b></p>
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<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;"><i>Second</i><i> Amendment to Amended and Restated Revolving Credit and Security Agreement</i></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;">On August 8, 2019, SMTC Corporation, a Delaware company (the &#8220;Company&#8221;), entered into that certain Amendment No. 2 to the Amended and Restated Revolving Credit and Security Agreement (&#8220;PNC Amendment&#8221;), by and among the Company, SMTC Manufacturing Corporation of California, a California corporation (&#8220;SMTC California&#8221;), SMTC Mex Holdings, Inc., a Delaware corporation (&#8220;SMTC Mex&#8221;), HTM Holdings, Inc. a Delaware corporation (&#8220;HTM&#8221;), MC Test Service, Inc., a Florida corporation (&#8220;MC Test&#8221;), MC Assembly International LLC, a Delaware limited liability company (&#8220;MC Assembly International&#8221;), MC Assembly LLC, a Delaware limited liability company (&#8220;MC Assembly&#8221; and together with the Company, SMTC California, SMTC Mex, HTM, MC Test, and MC Assembly International, and each other person joined thereto as a borrower from time to time, the &#8220;Borrowers&#8221;), the financial institutions party to that certain Amended and Restated Revolving Credit and Security Agreement, dated as of November 8, 2018 (as disclosed on the Company&#8217;s <a href="http://www.sec.gov/Archives/edgar/data/1108320/000117184318007820/f8k_110818.htm" style="-sec-extract:exhibit;">Current Report on Form 8-K filed on November 9, 2018</a>), as amended on March 29, 2019 (as disclosed on the Company&#8217;s <a href="http://www.sec.gov/Archives/edgar/data/1108320/000117184319002239/f8k_040419.htm" style="-sec-extract:exhibit;">Current Report on Form 8-K filed on April 4, 2019</a>) (such agreement, the &#8220;PNC Agreement&#8221; and, such lenders thereto, the &#8220;PNC Lenders&#8221;), and PNC Bank, National Association (&#8220;PNC&#8221;), as agent for the PNC Lenders (in such capacity, the &#8220;Agent&#8221;), which governs the credit facilities among the Borrowers, the PNC Lenders and PNC (the &#8220;PNC Facilities&#8221;).</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 PNC Amendment, among other things, (i) increases the total amount available for borrowings under the PNC Facilities to $65.0 million, (ii) provides for borrowings of up $15.0 million on assets located in Mexico, (iii) provides that borrowings under the PNC Facilities will bear interest at the U.S. base rate plus an applicable margin ranging from 0.75% to 1.25%, or LIBOR plus an applicable margin ranging from 2.50% to 3.00%, (iv) resets the financial covenants contained in the PNC Agreement to mirror those contained in the Financing Agreement (as defined herein), and (v) permits the paydown of the TCW Facility (as defined herein) by up to $10.0 million, as discussed below. In connection with the PNC Amendment, the Company paid the Agent a closing fee of $100,000.</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 the PNC Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the PNC Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.</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;"><i>Third</i><i> Amendment to </i><i>Financing</i><i> Agreement</i></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">On August 8, 2019, the Company entered into that certain Amendment No. 3. to the Financing Agreement (the &#8220;TCW Amendment&#8221;), by and among the Company, each person that is a borrower under that certain Financing Agreement, dated as of November 8, 2018 (as disclosed on the Company&#8217;s <a href="http://www.sec.gov/Archives/edgar/data/1108320/000117184318007820/f8k_110818.htm" style="-sec-extract:exhibit;">Current Report on Form 8-K filed on November 9, 2018</a>), as amended on March 29, 2019 (as disclosed on the Company&#8217;s <a href="http://www.sec.gov/Archives/edgar/data/1108320/000117184319002239/f8k_040419.htm" style="-sec-extract:exhibit;">Current Report on Form 8-K filed on April 4, 2019</a>), as amended on July 3, 2019 (as disclosed on the Company&#8217;s <a href="http://www.sec.gov/Archives/edgar/data/1108320/000117184319004424/f8k_070519.htm" style="-sec-extract:exhibit;">Current Report on Form 8-K filed on July 5, 2019</a>) (as amended to date, the &#8220;Financing Agreement&#8221;), each other loan party that is a party to the Financing Agreement, each financial institution that is a party to the Financing Agreement (collectively, the &#8220;TCW Lenders&#8221;), TCW Asset Management Company LLC, as administrative agent for the TCW Lenders (in such capacity, the &#8220;Administrative Agent&#8221;), and TCW Asset Management Company LLC, as collateral agent for the TCW Lenders.</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 TCW Amendment, among other things, (i) provides for a $20.0 million increase in the total amount available for borrowings under the PNC Facilities, as discussed above, (ii) provides for the paydown of the Term Loan A (as defined in the Financing Agreement) by up to $10.0 million, (iii) provides that the interest rate for borrowings under the Financing Agreement will be reset to LIBOR plus an applicable margin of 8.75% through June 30, 2020, and borrowings under the Financing Agreement will thereafter bear interest at LIBOR plus an applicable margin ranging from 7.25% to 8.75%, (iv) deletes the senior leverage ratio covenant, (v) amends the total leverage ratio covenant, including the definition of total leverage ratio, to increase the maximum total leverage on a quarterly basis beginning with the fiscal quarter ending September 30, 2019, (vi) amends the fixed charge coverage ratio covenant to decrease the minimum fixed charge coverage ratio on a quarterly basis beginning with the fiscal quarter ending September 30, 2020 through the fiscal quarter ending December 31, 2021 and (vii) resets the call protection on the Term Loan A. In connection with the TCW Amendment, the Company paid the Administrative Agent a closing fee of $125,000.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">The foregoing description of the TCW Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the TCW Amendment, which is filed as Exhibit 10.2 to this Current Report on Form 8-K and is incorporated herein by reference.</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 2.03</b></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>Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet</b><b> </b><b>Arrangement of a Registrant</b><b>.</b></p>
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<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 disclosure provided under Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03(a) as if fully set forth herein.</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 9.01</b></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>Financial Statements and Exhibits.</b></p>
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<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;"><b>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibits</b></p>

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

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">

		<tr>
			<td style="vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0); width: 8%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;"><b>Exhibit</b></p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;"><b>Number</b></p>
			</td>
			<td style="vertical-align: top; width: 2%;">&nbsp;</td>
			<td style="vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0); width: 90%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Description</b></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 8%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">10.1</p>
			</td>
			<td style="vertical-align: top; width: 2%;">&nbsp;</td>
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 90%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><a href="ex_154841.htm" style="-sec-extract:exhibit;">Amendment No. 2 to Amended and Restated Revolving Credit and Security Agreement, by and among SMTC Corporation, SMTC Manufacturing Corporation of California, SMTC Mex Holdings, Inc., HTM Holdings, Inc., MC Test Service, Inc., MC Assembly International LLC, MC Assembly LLC, the financial institutions party thereto and PNC Bank, National Association, as agent for the lenders, dated August 8, 2019.</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 8%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">10.2</p>
			</td>
			<td style="vertical-align: top; width: 2%;">&nbsp;</td>
			<td style="vertical-align: top; width: 90%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><a href="ex_154842.htm" style="-sec-extract:exhibit;">Amendment No. 3 to Financing Agreement, by and among SMTC Corporation, the borrowers party thereto, each other loan party thereto, the lenders party thereto, TCW Asset Management Company LLC, as administrative agent for the lenders, and TCW Asset Management Company LLC, as collateral agent for the lenders, dated August 8, 2019.</a></p>
			</td>
		</tr>

</table>

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

<div id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%">&nbsp;</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<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;"><b>SIGNATURE </b></p>

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

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:24.5pt;">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:0pt;text-align:left;text-indent:24.5pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:24.5pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;text-indent:0;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="vertical-align:middle;width:50%;">Date: August 12, 2019</td>
			<td colspan="2" rowspan="1" style="vertical-align: bottom; width: 4%;"><b>SMTC CORPORATION</b></td>
		</tr>
		<tr>
			<td style="vertical-align:middle;width:50%;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 46%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:50%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td style="vertical-align: bottom; width: 4%;">By:</td>
			<td style="vertical-align: top; width: 46%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><u>/s/ Edward Smith</u></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:50%;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 4%;">Name:</td>
			<td style="vertical-align: top; width: 46%;">Edward Smith</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:50%;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 4%;">Title:</td>
			<td style="vertical-align: top; width: 46%;">President and Chief Executive Officer</td>
		</tr>

</table>

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


</body></html>
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smtx20190812_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
THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported):
August
12
, 2019
(
August
8
, 2019)
SMTC CORPORATION
(Exact name of registrant as specified in its charter)
Delaware
0
00
-31051
98-0197680
(State or other jurisdiction of incorporation or organization)
(Commission File Number)
(I.R.S. Employer Identification No.)
7050 Woodbine Avenue, Suite 300
Markham, Ontario, Canada L3R
4G8
(Address of Principal Executive Offices
, and
Zip Code)
(905) 479-1810
(
Registrant's telephone number, including area code
)
N/A
(
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))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading symbol
Name of each exchange on which registered
Common Stock, par value $0.01 per share
SMTX
Nasdaq Global Market
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 standard provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01
Entry into a Material Definitive Agreement.
Second
Amendment to Amended and Restated Revolving Credit and Security Agreement
On August 8, 2019, SMTC Corporation, a Delaware company (the "Company"), entered into that certain Amendment No. 2 to the Amended and Restated Revolving Credit and Security Agreement ("PNC Amendment"), by and among the Company, SMTC Manufacturing Corporation of California, a California corporation ("SMTC California"), SMTC Mex Holdings, Inc., a Delaware corporation ("SMTC Mex"), HTM Holdings, Inc. a Delaware corporation ("HTM"), MC Test Service, Inc., a Florida corporation ("MC Test"), MC Assembly International LLC, a Delaware limited liability company ("MC Assembly International"), MC Assembly LLC, a Delaware limited liability company ("MC Assembly" and together with the Company, SMTC California, SMTC Mex, HTM, MC Test, and MC Assembly International, and each other person joined thereto as a borrower from time to time, the "Borrowers"), the financial institutions party to that certain Amended and Restated Revolving Credit and Security Agreement, dated as of November 8, 2018 (as disclosed on the Company's
Current Report on Form 8-K filed on November 9, 2018
), as amended on March 29, 2019 (as disclosed on the Company's
Current Report on Form 8-K filed on April 4, 2019
) (such agreement, the "PNC Agreement" and, such lenders thereto, the "PNC Lenders"), and PNC Bank, National Association ("PNC"), as agent for the PNC Lenders (in such capacity, the "Agent"), which governs the credit facilities among the Borrowers, the PNC Lenders and PNC (the "PNC Facilities").
The PNC Amendment, among other things, (i) increases the total amount available for borrowings under the PNC Facilities to $65.0 million, (ii) provides for borrowings of up $15.0 million on assets located in Mexico, (iii) provides that borrowings under the PNC Facilities will bear interest at the U.S. base rate plus an applicable margin ranging from 0.75% to 1.25%, or LIBOR plus an applicable margin ranging from 2.50% to 3.00%, (iv) resets the financial covenants contained in the PNC Agreement to mirror those contained in the Financing Agreement (as defined herein), and (v) permits the paydown of the TCW Facility (as defined herein) by up to $10.0 million, as discussed below. In connection with the PNC Amendment, the Company paid the Agent a closing fee of $100,000.
The foregoing description of the PNC Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the PNC Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Third
Amendment to
Financing
Agreement
On August 8, 2019, the Company entered into that certain Amendment No. 3. to the Financing Agreement (the "TCW Amendment"), by and among the Company, each person that is a borrower under that certain Financing Agreement, dated as of November 8, 2018 (as disclosed on the Company's
Current Report on Form 8-K filed on November 9, 2018
), as amended on March 29, 2019 (as disclosed on the Company's
Current Report on Form 8-K filed on April 4, 2019
), as amended on July 3, 2019 (as disclosed on the Company's
Current Report on Form 8-K filed on July 5, 2019
) (as amended to date, the "Financing Agreement"), each other loan party that is a party to the Financing Agreement, each financial institution that is a party to the Financing Agreement (collectively, the "TCW Lenders"), TCW Asset Management Company LLC, as administrative agent for the TCW Lenders (in such capacity, the "Administrative Agent"), and TCW Asset Management Company LLC, as collateral agent for the TCW Lenders.
The TCW Amendment, among other things, (i) provides for a $20.0 million increase in the total amount available for borrowings under the PNC Facilities, as discussed above, (ii) provides for the paydown of the Term Loan A (as defined in the Financing Agreement) by up to $10.0 million, (iii) provides that the interest rate for borrowings under the Financing Agreement will be reset to LIBOR plus an applicable margin of 8.75% through June 30, 2020, and borrowings under the Financing Agreement will thereafter bear interest at LIBOR plus an applicable margin ranging from 7.25% to 8.75%, (iv) deletes the senior leverage ratio covenant, (v) amends the total leverage ratio covenant, including the definition of total leverage ratio, to increase the maximum total leverage on a quarterly basis beginning with the fiscal quarter ending September 30, 2019, (vi) amends the fixed charge coverage ratio covenant to decrease the minimum fixed charge coverage ratio on a quarterly basis beginning with the fiscal quarter ending September 30, 2020 through the fiscal quarter ending December 31, 2021 and (vii) resets the call protection on the Term Loan A. In connection with the TCW Amendment, the Company paid the Administrative Agent a closing fee of $125,000.
The foregoing description of the TCW Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the TCW Amendment, which is filed as Exhibit 10.2 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet
Arrangement of a Registrant
.
The disclosure provided under Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03(a) as if fully set forth herein.
Item 9.01
Financial Statements and Exhibits.
(d)       Exhibits
Exhibit
Number
Description
10.1
Amendment No. 2 to Amended and Restated Revolving Credit and Security Agreement, by and among SMTC Corporation, SMTC Manufacturing Corporation of California, SMTC Mex Holdings, Inc., HTM Holdings, Inc., MC Test Service, Inc., MC Assembly International LLC, MC Assembly LLC, the financial institutions party thereto and PNC Bank, National Association, as agent for the lenders, dated August 8, 2019.
10.2
Amendment No. 3 to Financing Agreement, by and among SMTC Corporation, the borrowers party thereto, each other loan party thereto, the lenders party thereto, TCW Asset Management Company LLC, as administrative agent for the lenders, and TCW Asset Management Company LLC, as collateral agent for the lenders, dated August 8, 2019.
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: August 12, 2019
SMTC CORPORATION
By:
/s/ Edward Smith
Name:
Edward Smith
Title:
President and Chief Executive Officer