UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
November 2, 2006
Date of Report (Date of earliest event reported)
iPARTY CORP.
(Exact name of registrant as specified in its charter)
Delaware 000-25507 76-0547750
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
270 Bridge Street, Suite 301, Dedham, Massachusetts 02026
(Address of principal executive offices) (Zip Code)
(781) 329-3952
(Registrant's telephone number, including area code)
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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 1.01 Entry into a Material Definitive Agreement.
On October 31, 2006, iParty Corp. and iParty Retail Stores Corp., as borrowers,
and Wells Fargo Retail Finance II, LLC, as lender, entered into a sixth
amendment (the "Sixth Amendment") to the Loan and Security Agreement by and
among the parties dated August 23, 2000, as previously amended as of May 23,
2002, January 2, 2004, April 27, 2005, January 17, 2006 and August 7, 2006 (the
"Loan Agreement"). The Sixth Amendment extends the maturity date on the $500,000
term loan from October 31, 2006 to January 2, 2007.
The full text of the Sixth Amendment is attached as Exhibit 10.1 to this Current
Report on Form 8-K and is incorporated herein by reference.
Item 8.01 Other Events.
On November 2, 2006, iParty Corp. issued a press release announcing its sales
results for the calendar month of October 2006. The press release is attached
hereto as Exhibit 99.1 and is incorporated herein by reference.
The information under Item 8.01 in this Form 8-K, including Exhibit 99.1, is
being furnished to the Securities and Exchange Commission and shall not be
deemed "filed" for purposes of Section 18 of the Securities Exchange Act of
1934, as amended, or otherwise subject to the liabilities of that section, not
shall it be deemed incorporated by reference in any filing under the securities
Act of 1933, as amended.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
10.1 Sixth Amendment dated October 31, 2006 to Loan and Security Agreement
by and among iParty Corp., iParty Retail Stores Corp. and Wells Fargo
Retail Finance II, LLC.
99.1 Press release of iParty Corp. dated November 2, 2006
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.
iPARTY CORP.
By: /s/ SAL PERISANO
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Sal Perisano
Chairman of the Board and
Chief Executive Officer
Dated: November 2, 2006
EXHIBIT INDEX
EXHIBIT
NUMBER DESCRIPTION
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10.1 Sixth Amendment to Loan and Security Agreement with Wells Fargo
Finance II, LLC, dated October 31, 2006
99.1 Press release of iParty Corp. dated November 2, 2006