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: August 29, 1997
EMERGENT GROUP, INC.
(Exact name of registrant as specified in its charter)
South Carolina 0-8909 57-0513287
(State of other juris- (Commission (IRS Employer
diction of incoporation) File Number) Identification Number)
Suite 750, 15 South Main Street, Greenville, South Carolina 29601
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (864) 235-8056
The Exhibit Index appears on page 4 hereof.
Item 5. Other Events
The Company's Press Release attached hereto as Exhibit 99.1 is incorporated
herein by reference.
Item 7. Financial Statements and Exhibits
(a) Financial Statements of the Business Acquired. Not applicable.
(b) Pro Forma Financial Information. Not applicable.
(c) Exhibits.
99.1 Press Release.
<PAGE>
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.
EMERGENT GROUP, INC.
By: /s/Kevin J. Mast
Kevin J. Mast
Vice President, Chief Financial
Officer, and Treasurer
<PAGE>
Exhibit Index
99.1 Press Release.
<PAGE>
(logo)
Emergent
Group
Inc. Contact: Kevin J. Mast Robert S. Davis
Chief Financial Officer Vice President-Administration
(804) 235-8056 (864) 235-8056
EMERGENT GROUP, INC. ANNOUNCES PLANS FOR
PRIVATE PLACEMENT OF $100 MILLION IN SENIOR NOTES
GREENVILLE, S.C. (August 27, 1997) - Emergent Group, Inc. (Nasdaq/NM:EMER) today
announced plans, subject to market and other conditions, for the private
placement of $100 million of Senior Notes which have a seven-year maturity and
are non-callable for four years. The proceeds of the sale of the Notes will be
used to repay outstanding indebtedness under existing credit and warehouse
facilities.
The Notes have not been registered under the Securities Act or any state
securities law and, unless so registered, may not be offered or sold except
pursuant to an exemption from, or in a transaction not subject to, the
requirements of the Securities Act and applicable state securities laws.
Emergent Group, Inc. is a diversified financial services company which
specializes in non-prime first and second lien residential mortgage loans; loans
to small businesses, partially guaranteed by the U.S. Small Business
Administration; asset-based loans to small businesses secured by inventory and
accounts receivable; mezzanine-level financing to small businesses with equity
participations; management of a venture capital fund; and non-prime automobile
loans. Emergent currently has 1,049 employees and operates in 38 states.
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