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): October 8, 1999
AAMES FINANCIAL CORPORATION
(Exact name of Registrant as Specified in Its Charter)
DELAWARE 0-19604 95-340340
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
350 South Grand Avenue, 52nd Floor
Los Angeles, California 90071
(Address of Principal Executive Offices)
(323) 210-5000
(Registrant's Telephone Number, Including Area Code)
NA
(Former Name or Former Address, if Changed Since Last Report)
<PAGE>
ITEM 5. OTHER EVENTS
Reference is made to the press release of Registrant issued on October
8, 1999 which contains information meeting the requirements of this Item 5 and
is incorporated herein by this reference. A copy of the press release is
attached to this Form 8-K as Exhibit 99.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) EXHIBITS
99 Press release issued October 8, 1999.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this Current Report on Form 8-K to be
signed on its behalf by the undersigned hereunto duly authorized.
AAMES FINANCIAL CORPORATION
Dated: October 20, 1999 By: /S/ DAVID A. SKLAR
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David A. Sklar
Executive Vice President-Finance,
Chief Financial Officer
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EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION OF EXHIBIT
99 Press release issued October 8, 1999
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<PAGE>
EXHIBIT 99
Contact: David Sklar
Aames Financial Corporation
(323) 210-5311
or
Steve Hawkins/Tom Ekman
Sitrick And Company
(310) 788-2850
FOR IMMEDIATE RELEASE
AAMES FINANCIAL CORP. ANNOUNNCES RIGHTS OFFERING RESULTS
RIGHTS HOLDERS TO PURCHASE AGGREGATE OF 4,159,266 SHARES
OF SERIES C CONVERTIBLE PREFERRED STOCK
LOS ANGELES, October 8, 1999 -- AAMES FINANCIAL CORPORATION (NYSE: AAM), a
leader in subprime home equity lending, announced today that holders of rights
to purchase shares of Series C Convertible Preferred Stock have subscribed to
purchase an aggregate of 4,159,266 shares at a purchase price of $1.00 per
share.
On September 7, 1999, the Company distributed non-transferable
subscription rights to each of its Common Stockholders of record as of such
date, which rights permitted the Company's common stockholders to purchase, at a
purchase price of $1.00 per share, one share of Series C Convertible Preferred
Stock for every share of Common Stock held of record by them as of September 7,
1999. The rights expired at 5 pm, New York City time, on October 6, 1999.
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From time to time the Company may publish forward-looking statements relating to
such matters as anticipated financial performance, business prospects and
similar matters. The Private Securities Litigation Reform Act of 1995 provides a
safe harbor for forward-looking statements. In order to comply with the terms of
the safe harbor, the Company notes that a variety of factors could cause the
Company's actual results and experience to differ materially from the
anticipated results or other expectations expressed in the Company's
forward-looking statements. The risks and uncertainties that may affect the
operations, performance and results of the Company's business include the
following: negative cash flow and continued access to outside sources of cash to
fund operations; third party rights to terminate mortgage servicing; high
delinquencies and losses in our securitization trusts; dependence on funding
sources; Year 2000 compliance and technological enhancements; prepayment risk;
changes in interest rates; basis risk; prolonged interruptions or reductions in
the secondary market for mortgage loans; timing of loan sales; dependence on
broker network; competition; concentration of operations in California; economic
conditions; contingent risks on loans we sell; and government regulation. For a
more complete discussion of these risks and uncertainties, see "Item 7.
Management's Discussion and Analysis of Financial Condition and Results of
Operations - Risk Factors" in the Company's Annual Report on Form 10-K for the
fiscal year ended June 30, 1999, and subsequent Company filings with the United
States Securities and Exchange Commission.
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