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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 Act of 1934
Date of Report (Date of earliest event reported) November 19, 1997
(November 13, 1997)
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Superior National Insurance Group, Inc.
(Exact name of registrant as specified in its charter)
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<S> <C> <C>
Delaware 0-25984 95-4610936
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(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
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26601 Agoura Road, Calabasas, California 91302
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (818) 880-1600
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(Former name or former address, if changed since last report.)
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ITEM 5.
Attached hereto as Exhibit 99.1 is the press release issued by
Superior National Insurance Group, Inc. dated November 13, 1997 which is hereby
incorporated by reference herein.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(C) EXHIBITS.
99.1 Press release dated November 13, 1997.
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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.
Date: November 19, 1997
SUPERIOR NATIONAL INSURANCE GROUP, INC.
By: /s/ Robert E. Nagle
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Robert E. Nagle
Senior Vice President and
Secretary
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EXHIBIT INDEX
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Exhibit
Number Description
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99.1 Press release dated November 13, 1997.
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Superior National Plans
$100 Million Financing
CALABASAS, Calif.-- Nov. 13, 1997--Superior National Insurance
Group, Inc., (Nasdaq:SNTL) Thursday announced that its affiliate, Superior
National Capital Trust I, intends to offer $100 million in trust preferred
securities in a private placement with registration rights pursuant to Rule 144A
and Regulation S under the Securities Act of 1933, as amended.
The trust preferred securities will not be registered under
the Securities Act upon initial issuance, and may not be sold in the United
States absent registration or an exemption from registration requirements. This
news release shall not constitute an offer to sell or the solicitation of an
offer to buy the trust preferred securities.
Net proceeds from the offering will be used to prepay
long-term debt and redeem preferred securities issued by an SNTL affiliate, with
the balance to be used for other corporate purposes, including contributions to
the capital of the company's operating subsidiaries.
Superior National Insurance Group is the parent company of
Superior National Insurance Company and Superior Pacific Casualty Company
(formerly The Pacific Rim Assurance Company), specialty workers' compensation
insurers operating in California through branch offices located in Sacramento,
South San Francisco, Fresno, Calabasas, Woodland Hills, Irvine, San Diego, and
in Phoenix, Arizona.
CONTACT: Superior National Insurance Group Inc.
J. Chris Seaman, 818/878-2240
