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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported): January 28, 2000
Pen-Tab Industries, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 333-24519 54-1833398
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(State or Other (Commission (IRS Employer
Jurisdiction File Number) Identification No.)
of Incorporation)
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167 Kelley Drive
Front Royal, VA 22630
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(Address of Principal Executive Offices) (Zip Code)
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Registrant's telephone number, including area code (540) 622-2000
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Not Applicable
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(Former name or former address, if changed since last report)
Exhibit Index on page 4
Page 1 of 5
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Item 5. Other Events.
Pen-Tab Industries, Inc. will be unable to make the interest payment due on
February 1, 2000 on the $75,000,000 of 10 7/8% Senior Subordinated Notes due
2007 (the "Notes"). The facts and circumstances giving rise to such contingency
are described in the statement of Pen-Tab Industries, Inc., dated as of January
28, 2000, which is filed as Exhibit 5.1 hereto and incorporated by reference
herein.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits.
5.1 Statement of Pen-Tab Industries, Inc., dated as of January 28, 2000
Page 2 of 5
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
as amended, the Registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
PEN-TAB INDUSTRIES, INC.
By: /s/ William Leary
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Name: William Leary
Title: Vice President, Chief Financial and
Administrative Officer
Dated: January 28, 2000
Page 3 of 5
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EXHIBIT INDEX
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Exhibit No. Document Page
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5.1 Statement of Pen-Tab Industries, Inc., dated as 5
of January 28, 2000
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Page 4 of 5
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EXHIBIT 5.1
Statement of Pen-Tab Industries, Inc., dated January 28, 2000
On January 19, 2000 and January 25, 2000, we received notices of
default from Bank of America, N.A. in reference to the Secured Credit Agreement
dated as of August 20, 1998, as amended (the "Credit Agreement"), among Pen-Tab
Industries, Inc. (the "Company"), Pen-Tab Holdings, Inc., the lenders party
thereto and Bank of America, N.A., as agent for the said lenders. As a
consequence of these defaults, on January 27, 2000, we received a payment
blockage notice from Bank of America N.A.
The Company will not be able to make the February 1 interest payment.
We are negotiating with the Company's senior lenders as to the possible courses
of action to be taken in regard to the default, including the extension of the
current credit facility.
This filing contains forward-looking statements which are made
pursuant to the safe harbor provisions of the Securities Litigation Reform Act
of 1995, each of which involves risks and uncertainties that may affect our
business and prospects. Such forward-looking statements include, without
limitation, our estimation of our ability to make the interest payment on the
Notes. Investors should consult the Company's ongoing interim and quarterly
filings and annual reports for additional information on risks and uncertainties
relating to forward-looking statements. Investors are cautioned not to rely on
these forward-looking statements. We do not undertake to update these forward-
looking statements.
