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) March 8, 2006
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GSE SYSTEMS, INC.
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(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation or organization)
0-26494 52-1868008
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(Commission File Number) (I.R.S. Employer Identification No.)
7133 Rutherford Rd., Suite 200, Baltimore, MD 21244
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(Address of principal executive office and zip code)
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(410) 277-3740
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Registrant's telephone number, including area code
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation or the registrant under any of the
following provisions (see General Instructions 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 8.01 Other Events
On March 8, 2006, GSE Systems, Inc. issued a press release stating that the
Company had completed two financing transactions totaling $9.25 million. On
February 28, 2006 the Company raised $4.25 million in an offering of 8%
Cumulative Preferred Stock and Warrants. In a separate transaction which closed
on March 8, 2006, the Company replaced its existing $1.5 million bank revolving
line of credit with a two year $5.0 million revolving credit facility with
Laurus Master Funds, Ltd.
Item 9.01 Financial Statements and Exhibits
(c) Exhibits
99.1 Press Release of GSE Systems dated March 8, 2006.
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.
GSE SYSTEMS, INC.
Date: March 8, 2006 /s/ Jeffery G. Hough
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Jeffery G. Hough
Senior Vice President and CFO
EXHIBIT INDEX
Exhibit No. Description
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99.1 Press release of GSE Systems, Inc. dated March 8, 2006