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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):
AUGUST 10, 1999
LAMAR ADVERTISING COMPANY
(Exact name of registrant as specified in its charter)
DELAWARE 0-20833 72-1449411
(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
5551 CORPORATE BOULEVARD, BATON ROUGE, LOUISIANA 70808
(Address of principal executive offices and zip code)
(225) 926-1000
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS.
Lamar Advertising Company has completed the sale of $250,000,000 of
convertible notes in an underwritten public offering. Filed herewith as Exhibit
99.1 is a copy of a press release that was issued today describing the sale.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
99.1 Press release issued by the registrant on
August 10, 1999.
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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.
Date: August 10, 1999 LAMAR ADVERTISING COMPANY
By: /s/ KEVIN P. REILLY, JR.
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Kevin P. Reilly, Jr.
President and Chief Executive Officer
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INDEX TO EXHIBITS
<TABLE>
<CAPTION>
Exhibit
Number Description
- ------ -----------
<S> <C>
99.1 Press release issued by the registrant on August 10, 1999.
</TABLE>
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EXHIBIT 99.1
[LAMAR LETTERHEAD]
Company Contact: Keith Istre, CFO
(225) 926-1000
LAMAR ADVERTISING COMPLETES $250 MILLION
CONVERTIBLE NOTES OFFERING
BATON ROUGE, La - (BUSINESS WIRE) --- August 10, 1999 --- Lamar
Advertising Company (NASDAQ: LAMR) announced today that it has completed the
sale of $250,000,000 of Convertible Notes through Goldman Sachs & Co., Deutsche
Banc Alex. Brown, Morgan Stanley Dean Witter and Salomon Smith Barney as
underwriters. The Convertible Notes will bear interest at the rate of 5.25% per
annum and will be convertible into shares of Lamar Advertising's Class A common
stock at an initial conversion price of $46.25 per share. The approximately
$242,900,000 proceeds from the sale of the Convertible Notes will be used to pay
existing bank debt. The underwriters also have an over-allotment option to
purchase up to an additional $37,500,000 of Convertible Notes, which they may
exercise at any time on or before September 3, 1999.
The offering of the Convertible Notes may be made only by means of a
prospectus, a copy of which can be obtained from Lamar Advertising at 5551
Corporate Boulevard, Baton Rouge, LA 70896 or Goldman, Sachs & Co. at 85 Broad
Street, New York, NY 10004.
Lamar Advertising is a leading outdoor advertising company currently
operating 107 outdoor advertising companies in 36 states, logo sign contracts in
20 states and the Province of Ontario, Canada and 23 transit advertising
operations in nine states.
