<PAGE> 1
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) December 18, 1998
ACME METALS INCORPORATED
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 1-14378 36-3802419
- ---------------------------- ------------------ -----------------------
(State or other jurisdiction (Commission File (IRS Employer
of Incorporation) Number) Identification number)
13500 South Perry Avenue, Riverdale, Illinois 60827-1182
- --------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 708-849-2500
----------------------------
- --------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE> 2
Item 5. Other Events.
On December 18, 1998, the Company, with bankruptcy court approval, signed
an agreement with BankAmerica Business Credit, Inc., providing for a twenty-four
month, $100 million, secured working capital facility, for post-petition
debtor-in-possession financing.
The following exhibit accompanies this Current Report on Form 8-K:
Exhibit No. Description
----------- -----------
20.1 Press release issued
on December 22, 1998.
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.
ACME METALS INCORPORATED
Date: December 29, 1998 By: /s/ Derrick T. Bay
----------------------------------
Derrick T. Bay
Controller and Chief
Accounting Officer
2
<PAGE> 1
EXHIBIT 20.1
IMMEDIATE RELEASE For further information contact:
December 22, 1998 Joel L. Hawthorne
Director, Investor & Public Relations
Acme Metals Incorporated
(708) 841-8383, ext. 2266
ACME METALS ANNOUNCES
DEBTOR-IN-POSSESSION FINANCING
RIVERDALE, Illinois, December 22, 1998 -- Acme Metals Incorporated, with
bankruptcy court approval, has signed an agreement with BankAmercia Business
Credit, Inc., a subsidiary of Bank of America National Trust & Savings
Association, for post-petition debtor-in-possession financing. The agreement is
a 24-month $100 million, secured working capital facility. The Company believes
such funds, together with current cash on hand will provide the liquidity for
normal day-to-day operations while it reorganizes under Chapter 11.
On September 28, 1998, Acme Metals, headquartered in Riverdale, Illinois,
filed its voluntary petitions for reorganization under Chapter 11 after
management determined action was required to preserve the operational strength
and assets of the Company's businesses while their debt is restructured.
Acme Metals Incorporated, through its operating subsidiaries, is a fully
integrated producer of steel, steel strapping and strapping products, and welded
steel tubing. Its common stock is listed on the Bulletin Board of the National
Association of Securities Dealers under the symbol AMIIQ.
###
