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) September 22, 2000
BOOTH CREEK SKI HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
Delaware 333-26091 84-1359604
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File No.) Identification No.)
1000 South Frontage Road West, Suite 1000
Vail, Colorado 81657
(Address, including zip code, of principal executive offices)
Registrant's telephone number, including area code: (970) 476-1311
No Change
(Former name or former address, if changed since last report.)
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BOOTH CREEK SKI HOLDINGS, INC.
Item 2. Acquisition or Disposition of Assets.
On September 22, 2000, Trimont Land Company ("TLC"), a
wholly-owned subsidiary of Booth Creek Ski Holdings, Inc. (the "Company"), and
Trimont Land Holdings, Inc. ("TLH"), a wholly-owned subsidiary of Booth Creek
Ski Group, Inc. and an affiliate of the Company, entered into an Agreement for
Purchase and Sale of Real Property (the "Agreement"). Pursuant to the
Agreement, TLC agreed to sell to TLH certain developmental real estate
consisting of approximately 500 acres of land at Northstar for a total purchase
price of $27,600,000. The purchase price was based on an appraisal obtained
from an independent third party appraiser. Concurrently therewith, TLC and TLH
consummated the sale of the initial land parcels (the "Initial Closing")
contemplated by the Agreement. At the Initial Closing, TLC transferred certain
property to TLH for a total purchase price of $21,000,000, of which $17,850,000
was paid in cash, and $3,150,000 was received in the form of a subordinated
secured note receivable. The note receivable requires quarterly interest
payments at 10% per annum if paid in cash, or 12% if paid in-kind, and is due
in full in September 2005. The note receivable is secured by certain assets of
TLH. The note receivable is also convertible into 15% of TLH's equity in a real
estate development project. The sale of the remaining parcels of land
contemplated by the agreement is subject to subdivision requirements to effect
the transfer of such property and other normal and customary closing
conditions.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
Exhibit No. Description of Exhibit
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10.1 Agreement for Purchase and Sale of
Real Property and certain related agreements
dated September 22, 2000 between Trimont
Land Company and Trimont Land Holdings, Inc.
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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.
BOOTH CREEK SKI HOLDINGS, INC.
Dated: October 10, 2000 By: /s/ Brian J. Pope
--------------------------------
Name: Brian J. Pope
Title: Vice President of
Accounting and Finance
<PAGE>
Exhibit Index
Exhibit No. Description of Exhibit
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10.1 Agreement for Purchase and Sale of Real
Property and certain related agreements
dated September 22, 2000 between Trimont
Land Company and Trimont Land Holdings, Inc.
