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):
June 21, 1996
STERLING CHEMICALS, INC.
(Exact name of registrant as specified in its charter)
Delaware 1-10059 76-0185186
(State of Incorporation) (Commission File Number) (IRS Employer
Identification No.)
1200 Smith Street, Suite 1900
Houston, Texas 77002-4312
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (713) 650-3700
Item 5. Other Events.
On April 25, 1996 Sterling Chemicals, Inc. (the "Company") announced that
it has entered into a definitive agreement for the sale of the Company to
an investment group formed by the Sterling Group, Inc. and The Unicorn
Group, L.L.C. Under the terms of the agreement, shareholders may elect
to receive $12.00 per share in cash, or retain part or all of their shares
in the Company, subject to a 5,000,000 share maximum, and proration
to the extent aggregate elections exceed 5,000,000 shares.
The transaction is expected to be concluded by late August of this year and
is subject to customary closing conditions, including shareholder approval.
On June 21, 1996, STX Acquisition Corp. delivered to the Company Definitive
Bank Loan Documents as contemplated by Section 7.07(c) and on June 24, 1996
delivered to the Company Definitive Equity Documents as contemplated on
Section 7.07(d).
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 thereunto duly authorized.
Date: June 25, 1996 STERLING CHEMICALS, INC.
By:[signature appears here]
Jim P. Wise
Vice President - Finance and
Chief Financial Officer
