U.S. 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
July 22, 1998 (July 15, 1998)
Date of Report (Date of earliest event reported)
Rent-Way, Inc.
(Exact name of registrant as specified in its charter)
Pennsylvania 000-22026 25-1407782
(State or other jurisdiction (Commission File Number) (IRS Employer
of corporation) Identification No.)
3230 West Lake Road, Erie, Pennsylvania 16505
(Address of principal executive offices) Zip Code
Registrant's telephone number, including area code: (814) 836-0618
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RENT-WAY, INC.
8-K, Continued
Item 5. Other Events
On July 15, 198, Rent-Way, Inc. announced that, subject to market and other
conditions, it intends to raise $75 million (excluding any proceeds of the
over-allotment option) through a Rule 144A private offering of convertible
subordinated notes (the "Notes") within the United States.
Rent-Way contemplates that the Notes will have a 7-year term and be convertible
into common stock. Rent-Way intends to use the net proceeds of the offering to
repay indebtedness under its senior credit facility.
Rent-Way operates 384 rental-purchase stores in 21 states primarily in the
Southeast and Eastern United States. Rent-Way rents quality, brand name
merchandise, such as home entertainment equipment, furniture, major appliances
and jewelry, to customers on a week-to-week or month-to-month basis under full
service rental-purchase agreements that permit the customer to acquire ownership
of the merchandise at the conclusion of an agreed upon rental period.
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.
Rent-Way, Inc.
(Registrant)
Date July 22, 1998
/s/ Jeffrey A. Conway
(Signature)
Jeffrey A. Conway
Chief Financial Officer
