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FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report: November 26, 1996
MAXXAM INC.
(Exact name of Registrant as Specified in its Charter)
DELAWARE
(State or other jurisdiction of incorporation)
1-3924
(Commission File Number)
95-2078752
(I.R.S. Employer Identification Number)
5847 SAN FELIPE, SUITE 2600 77057
HOUSTON, TEXAS (Zip Code)
(Address of Principal
Executive Offices)
Registrant's telephone number, including area code: (713) 975-7600
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ITEM 5. OTHER EVENTS.
Attached hereto as Exhibit 99 is a press release dated November 26,
1996 pursuant to which MAXXAM Inc. announced a possible private placement of
debt securities by a newly formed wholly owned subsidiary, MAXXAM Group
Holdings Inc. MAXXAM Inc. would be the guarantor of such debt securities.
This press release is being filed with the Securities and Exchange Commission
pursuant to Rule 135c under the Securities Act of 1933.
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.
MAXXAM Inc.
(Registrant)
Date: December 10, 1996 By: TERRY L. FREEMAN
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Terry L. Freeman
Assistant Controller
MAXXAM INC. ANNOUNCES THAT A NEWLY FORMED SUBSIDIARY IS
CONSIDERING RAISING $100 MILLION THROUGH RULE 144A DEBT OFFERING
HOUSTON, Texas, November 26, 1996 -- MAXXAM Inc. (ASE:MXM) announced
today that MAXXAM Group Holdings Inc. (MGHI), its newly formed, wholly
owned subsidiary, is considering raising $100 million through a Rule 144A
offering of debt securities.
MAXXAM said that, if the offering moves forward, MGHI would loan the
net proceeds of the offering to MAXXAM, which would expect to use such
proceeds to redeem approximately $17.6 million outstanding principal amount
of its 12 1/2% Subordinated Debentures due December 15, 1999 and
approximately $25 million outstanding principal amount of its 14% Senior
Subordinated Reset Notes due May 20, 2000 and to pay accrued interest on
these securities.
MAXXAM would use the remaining proceeds for general corporate
purposes, including possible repurchases of its existing common stock.
The MGHI debt securities would not be registered under the Securities
Act of 1933 and could not be offered or sold in the United States absent
registration or an applicable exemption from registration requirements.
MGHI is a holding company for MAXXAM Group Inc., which engages in
forest products operations through its subsidiaries.
MAXXAM operates primarily in three industries: aluminum, forest
products, and real estate.
