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) July 21, 1997
HOLLYWOOD ENTERTAINMENT CORPORATION
(Exact name of registrant as specified in its charter)
Oregon 0-21824 93-0981138
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(State or other jurisdiction of (Commission (IRS Employer
incorporation or organization) File No.) Identification No.)
25600 SW Parkway Center Drive, Wilsonville, Oregon 97070
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(Address of principal executive offices) (Zip Code)
(503) 570-1600
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(Registrant's telephone number, including area code)
No Change
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(Former name, former address and former fiscal year,
if changed since last report)
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Item 5. Other Events
On July 21, 1997 Hollywood Entertainment Corporation (the "Company")
announced a proposed private placement of $200 million aggregate principal
amount of senior subordinated notes. The Company's press release announcing the
proposed offering is attached hereto as Exhibit 99.1.
Item 7. Financial Statements and Exhibits
(c) Exhibits.
99.1 Press release dated July 21, 1997.
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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.
Dated: July 22, 1997
HOLLYWOOD ENTERTAINMENT CORPORATION
By DOUGLAS A. GORDON
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Douglas A. Gordon, Senior Vice
President of Finance
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EXHIBIT INDEX
Exhibit Description
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99.1 Press release dated July 21, 1997.
EXHIBIT 99.1
Hollywood Entertainment Corporation Announces 144A
Offering of High Yield Notes
PORTLAND, Ore., July 21 /PRNewswire/ -- Hollywood Entertainment Corporation
(Nasdaq:NNM - news), dba Hollywood Video, a chain of 661 corporate owned video
superstores operating in 33 states as of June 30, 1997, announced today that it
plans to offer $200 million aggregate principal amount of Senior Subordinated
Notes due 2004 (the "Notes") in a private placement pursuant to Rule 144A under
the Securities Act of 1933, as amended (the "Securities Act"). The Company
intends to use the net proceeds from the sale of the Notes to repay the amount
outstanding under the Company's existing revolving credit facility ($101.0
million at March 31, 1997), to fund expansion and for working capital and other
general corporate purposes.
The Notes will not be registered under the Securities Act and may not be offered
or sold in the United States absent registration thereunder or an applicable
exemption from the registration requirements thereof. This news release shall
not constitute an offer to sell or the solicitation of an offer to buy the
Notes.
Hollywood Entertainment Corporation owns and operates 661 video retail
superstores in 33 states as of June 30, 1997 and is the second largest video
retailer in the United States, with revenue of $347.7 million for the twelve
months ended March 31, 1997.
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SOURCE: Hollywood Entertainment Corporation
Contact: Doug Gordon, Senior Vice President of Finance, Hollywood Entertainment
Corporation, 503-570-1600
