March 30, 2017 3:21 PM ET

Household Durables

Company Overview of Mad Catz, Inc.

Company Overview

Mad Catz, Inc. manufactures, distributes, and markets accessories for video game consoles and other entertainment devices. The company offers gaming accessories including headsets and audio, controllers, keyboards, mice, and licensed products, as well as control pads, steering wheels, joysticks, memory cards, video cables, light guns, dance pads, microphones, car adapters, and carry cases. It also publishes game enhancement software. The company was founded in 1989 and is based in San Diego, California. As of September 9, 1999, Mad Catz, Inc. operates as a subsidiary of Mad Catz Interactive Inc.

7480 Mission Valley Road

Suite 101

San Diego, CA 92108

United States

Founded in 1989

Phone:

619-683-9830

Fax:

619-683-9839

Key Executives for Mad Catz, Inc.

President, Chief Executive Officer, and Chief Operating Officer
Age: 55
Chief Financial Officer
Age: 60
Compensation as of Fiscal Year 2016.

Mad Catz, Inc. Key Developments

Mad Catz and Sterling National Bank Enter into a Forbearance Agreement and Amendment Certain Loan and Security Agreement

Effective February 21, 2017, Mad Catz, Inc., a wholly-owned subsidiary of Mad Catz Interactive, Inc., and Sterling National Bank entered into a Forbearance Agreement and Amendment to that certain Loan and Security Agreement dated June 30, 2015. Pursuant to the Amendment, SNB agreed with MCI to forbear until April 28, 2017 from exercising its remedies under the Loan Agreement for non-compliance of the required monthly financial covenant based on a trailing twelve months' adjusted earnings before income taxes, depreciation and amortization and for not paying accounts payable within the time required. The Amendment also amends the Loan Agreement to establish a monthly EBITDA requirement for January, February and March 2017 and provides for modified borrowing rates for eligible Rock Band 4 accounts sold in August and September 2016. This Amendment contains other conditions, including payment of $10,000 amendment fee to SNB, representations and warranties, and provisions that the company believes are usual and customary for credit arrangements similar to those contemplated by the Amendment.

Mad Catz Interactive, Inc., Mad Catz Inc. and 1328158 Ontario Inc. Enter into Third Amendment to That Loan and Security Agreement

On February 5, 2016, Mad Catz Interactive, Inc. and its subsidiaries Mad Catz Inc. (MCI) and 1328158 Ontario Inc. (MCC), entered into a third amendment to that certain Loan and security agreement between the company, MCI, MCC, the lenders party thereto and NewStar Business Credit LLC (NSBC), dated June 30, 2015. The amendment, which is effective February 5, 2016, resets the EBITDA covenants, as defined, for December 2015 - February 2016, based on revised forecasts, and contains other conditions, including payment of $20,000 amendment fee to NSBC, representations and warranties, and provisions that the company believes are usual and customary for credit arrangements similar to those contemplated by the amendment.

Mad Catz, Inc. Presents at Wedbush California Dreamin' Consumer Management Access Conference, Dec-10-2015 01:20 PM

Mad Catz, Inc. Presents at Wedbush California Dreamin' Consumer Management Access Conference, Dec-10-2015 01:20 PM. Venue: Loews Santa Monica Beach Hotel, Santa Monica, California, United States.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
September 15, 2016
Mad Catz, Certain Assets of its Simulation Business
 

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