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): December 18, 2007


BIOANALYTICAL SYSTEMS, INC.
(Exact name of registrant as specified in its charter)

Indiana
 
0-23357
 
35-1345024
(State or other jurisdiction of incorporation or organization)
 
(Commission File Number)
 
(I.R.S. Employer Identification No.)


2701 KENT AVENUE
WEST LAFAYETTE, INDIANA
 
 
47906-1382
(Address of principal executive offices)
 
(Zip Code)

Registrant's telephone number, including area code: (765) 463-4527
 

Item 1.01 Entry into a Material Definitive Agreement

On December 18, 2007, Bioanalytical Systems, Inc. (the “Company”) entered into a loan agreement with Regions Bank (“Regions”) under which Regions loaned to the Company $1.4 million dollars under a term loan maturing December 14, 2010. Interest on the loan is equal to LIBOR plus 250 basis points. Monthly payments are $11,667 plus interest. The loan is secured by real estate at the Company’s West Lafayette and Evansville, Indiana locations. Regions holds an additional $8 million of debt of the Company secured by mortgages on these facilities. Proceeds of the loan will be used for capital improvements and repayment of the Company’s subordinated debt.

Item 9.01.
Financial Statements and Exhibits.
 
(a)
Not applicable.
 
(b)
Not applicable.
 
(c)
Not applicable.
 
(d)
Exhibits
 
10.1
Loan agreement between Bioanalytical Systems, Inc. and Regions Bank dated December 18, 2007.
 
 

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.
 
 
 
 
 
Bioanalytical Systems, Inc.
 
 
 
 
 
 
Date: December 27, 2007
By:  
/s/ Michael R. Cox
 
Michael R. Cox
 
Vice President, Finance and Administration, Chief Financial Officer and Treasurer
 
 
Exhibit Index
 
Exhibit No.
Description

10.1
Loan agreement between Bioanalytical Systems, Inc. and Regions Bank dated December 18, 2007.