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
June 17, 1999
Date of Report (Date of earliest event reported)
AVADO BRANDS, INC.
(Exact name of registrant as specified in its charter)
Georgia Commission File No. 0-19542 59-2778983
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(State of Incorporation) (I.R.S. Employer
Identification No.)
Hancock at Washington
Madison, Georgia 30650
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(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code: (706) 342-4552
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ITEM 5. OTHER EVENTS
On June 17, 1999, the Registrant announced the pricing of a private
placement of $100 million, 11.75 percent senior subordinated notes. Pursuant to
Rule 135c of the Securities Act of 1933, a press release relating to such
announcement is attached hereto as Exhibit 99.1.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99.1 Press release of the Registrant dated June 17, 1999.
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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.
AVADO BRANDS, INC.
(Registrant)
Date: June 23, 1999 By: /s/ Louis J. Profumo
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Louis J. Profumo
Senior Vice President of Finance
and Chief Accounting Officer
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EXHIBIT INDEX
99.1 Press release of the Registrant dated June 17, 1999.
EXHIBIT 99.1
AVADO BRANDS Prices Senior Subordinated Notes
Madison, Ga., June 17, 1999 - AVADO BRANDS, INC. Nasdaq/NM:AVDO), a
growth-oriented, multi-brand restaurant company, today announced the pricing of
a private placement of $100 million, 11.75 percent senior subordinated notes,
priced at 98.561 (yield 12.0 percent), to qualified institutional buyers.
In connection with the consummation of such offering, the Company will
enter into a new $125 million bank revolving credit facility. The proceeds of
the notes offering, the new bank facility and the $40 million in proceeds from
the final Applebee's divestiture transaction will be used to refinance the
Company's existing credit facilities and to provide for future working capital
and other corporate purposes, including the settlement of $40 million in equity
forward contracts.
The senior subordinated notes have not been registered under the Securities
Act of 1933 and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements of
the Securities Act.
Statements contained in this press release that are not historical facts
are forward-looking statements as that term is defined in the Private Securities
Litigation Reform Act of 1995. All forward-looking statements are subject to
risks and uncertainties which could cause actual results to differ from those
anticipated. Factors that may cause actual results to differ from the
forward-looking statements contained in this release and that may affect the
Company's prospects in general are described in Exhibit 99.1 to the Company's
Form 10-Q for the fiscal quarter ended June 29, 1997, and the Company's other
filings with the Securities and Exchange Commission.
