form_8k.htm
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): May 18, 2010
(Exact
name of registrant as specified in its charter)
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Delaware
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1-7677
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73-1015226
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(State
or other jurisdiction
of
incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification
No.)
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16 South Pennsylvania Avenue,
Oklahoma City, Oklahoma
(Address
of principal executive offices)
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73107
(Zip
Code) |
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Registrant's telephone number,
including area code (405) 235-4546
(Former
name or former address, if changed since 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):
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Section
8 – Other Events
Item
8.01. Other Events
On May
18, 2010, LSB Industries, Inc. (the “Company”) purchased a total of $2,000,000
aggregate principal amount of its 5.5% Convertible Senior Subordinated
Debentures due 2012 (the “Debentures”) for $1,999,000, plus accrued
interest. The Company will incur a nominal loss from this purchase. The purchase
price was funded from the Company’s working capital. This purchase
was unsolicited by the Company and was privately negotiated.
The
Debentures are convertible by the holders, in whole or in part, into shares of
the Company’s common stock prior to their maturity at a conversion rate of 36.4
shares of the Company's common stock per $1,000 principal amount of
Debentures (representing a conversion price of $27.47 per share of common
stock), subject to adjustment under certain conditions. The closing price of the
Company’s common stock on May 18, 2010 was $18.29 per share. As of
the date of this report, $27.4 million aggregate principal amount of the
Debentures remain outstanding, which includes $5.0 million of the Debentures
being held by our Chairman of the Board and Chief Executive Officer, members of
his immediate family (spouse and children), including our Vice Chairman and
President, entities owned by them and trusts for which they possess voting or
dispositive power as trustee.
This
report is not an offer or a solicitation of an offer to sell or exchange any
security.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Company has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
Dated: May
21, 2010
LSB
INDUSTRIES, INC.
By: /s/Jack E. Golsen
Jack E.
Golsen, Chairman of the Board and
Chief
Executive Officer