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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) June 25, 1997
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DART GROUP CORPORATION
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(Exact name of registrant as specified in its charter)
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Delaware 0-1946 53-0242973
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
3300 75th Avenue, Landover, Maryland 20785
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(Address of principal executive offices) (Zip Code)
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Registrant's telephone number, including area code (301) 731-1200
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(Former name or former address, if changed since last report).
The total number of sequentially numbered pages is 4.
The exhibit index appears on page 3.
Page 1 of 4
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Item 5. Other Events
On June 25, 1997, Dart Group Corporation ("Dart") announced that its
subsidiary Shoppers Food Warehouse Corp. agreed to sell $200 million of its 9
3/4% Senior Notes due 2004. Dart's press release making such announcement is
incorporated herein by reference and attached hereto as Exhibit 99.1.
Item 7. Financial Statements and Exhibits
Exhibit 99.1 Press Release, dated June 25, 1997, of Dart
Group Corporation
SIGNATURE
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.
DART GROUP CORPORATION
By: MARK A. FLINT
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Mark A. Flint
Senior Vice President and
Chief Financial Officer
Date: June 27, 1997
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DART GROUP CORPORATION
Form 8-K
Exhibit Index
Exhibit 99.1 Press Release, dated June 25, 1997, of Dart
Group Corporation
Page 3 of 4
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EXHIBIT 99.1
FOR IMMEDIATE RELEASE
DART GROUP ANNOUNCES REFINANCING OF
SHOPPERS FOOD WAREHOUSE CORP.
Landover, MD... June 25, 1997 ... Dart Group Corporation (NASDAQ: DARTA) today
announced that its subsidiary, Shoppers Food Warehouse Corp., has agreed to
sell $200 million of its 9 3/4% Senior Notes due 2004.
The Senior Notes will not be registered under the Securities Act of 1933 and
may not be sold in the United States absent registration or an applicable
exemption from registration.
The net proceeds of the offering will be approximately $193.5 million.
Shoppers Food will use approximately $143.5 million of the net proceeds to
repay its Increasing Rate Notes due 2000 (including interest through the date
of redemption), which currently bear interest at the rate of 10% per annum.
The remaining net proceeds will be available to Dart if and when Dart
consummates a settlement with Herbert Haft and/or Robert, Gloria and Linda Haft
or, if not used for such a settlement by June 30, 1998, will be used to redeem
$50 million of the Senior Notes at 101% of the principal amount thereof.
Shoppers Food operates 34 supermarkets in the greater Washington, D.C. area.
In addition to its ownership of Shoppers Food, Dart operates retail discount
auto parts stores through Trak Auto Corporation, retail discount bookstores
through Crown Books Corporation and retail discount beverage stores through
Total Beverage Corporation.
Financial Contact: Mark A. Flint
Dart Group Chief Financial Officer
301-226-1402
Larry G. Schafran
Chairman, Dart Group Executive Committee
301-226-1502
Media Contact: Marina Ein
202-223-2922
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