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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): MAY 31, 1996
CHATTEM, INC.
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(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
TENNESSEE 0-5905 62-0156300
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(STATE OF (COMMISSION FILE NO.) (IRS EMPLOYER
INCORPORATION) IDENTIFICATION NO.)
1715 WEST 38TH STREET, CHATTANOOGA, TENNESSEE 37409
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES, INCLUDING ZIP CODE)
(615) 821-4571
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(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)
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ITEM 5. OTHER EVENTS.
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Chattem, Inc. (the "Company") has adjusted the exercise price
of its outstanding warrants from the original price of $7.15 per share to
$6.79 per share. The adjustment is required under the terms of the Company's
Warrant Agreement dated June 10, 1994 with the warrant agent, SouthTrust Bank
of Alabama, National Association, as a result of the sale of equity to
investors to facilitate the previously announced acquisition of Gold
Bond-Registered Trademark-, the issuance of shares to the seller in payment
of a part of the purchase price in the Gold Bond acquisition and the issuance
of options to acquire the Company's common stock under employee stock option
plans. The warrants were issued in connection with the sale of the Company's
12.75% Senior Subordinated Notes due 2004 and, if fully exercised before
expiration in June, 1999, will enable the holders to acquire up to a total of
417,182 shares of the Company's common stock at the exercise price.
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SIGNATURES
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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.
June 1, 1996 CHATTEM, INC.
By: /s/ ROBERT E. BOSWORTH
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Robert E. Bosworth,
Executive Vice President
and Chief Financial Officer
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