UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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 25 , 2005
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Culp, Inc.
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(Exact Name of Registrant as Specified in its Charter)
North Carolina 0-12781 56-1001967
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(State or Other Jurisdiction (Commission File Number) (I.R.S. Employer
of Incorporation) Identification No.)
1823 Eastchester Drive
High Point, North Carolina 27265
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(Address of Principal Executive Offices)
(Zip Code)
(336) 889-5161
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(Registrant's Telephone Number, Including Area Code)
Not Applicable
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(Former name or address, if changed from 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))
Item 1.01. Entry into a Material Definitive Agreement.
On October 25, 2005, Culp, Inc. (the "Company") entered into a financing
arrangement with Wachovia Bank, National Association ("Wachovia"), pursuant to
which Wachovia provided a term loan to the Company in the amount of $4,340,000,
secured by a lien on the Company's headquarters office located in High Point,
North Carolina. This loan is evidenced by a Promissory Note dated October 25,
2005, a copy of which is filed as Exhibit 10(a) hereto. This loan was made
pursuant to the Real Estate Loan Commitment Letter dated August 30, 2005 filed
as Exhibit 99(d) to the Form 8-K filed by the Company on August 31, 2005.
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.
Date: October 28, 2005
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Culp, Inc.
By: /s/ Kenneth R. Bowling
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Vice President-Finance, Treasurer
EXHIBIT INDEX
Exhibit Number Exhibit
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10(a) Promissory Note dated October 25, 2005