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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
F O R M 8 - K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported): February 12, 1998
EQUITY CORPORATION INTERNATIONAL
(Exact name of registrant as specified in its charter)
DELAWARE
(State or other jurisdiction
of incorporation)
0-24728
(Commission file number)
75-2521142
(I.R.S. employer identification number)
415 SOUTH FIRST STREET, SUITE 210
LUFKIN, TEXAS
(Address of principal executive offices)
75901
(Zip Code)
(409) 631-8700
(Registrant's telephone number, including area code)
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Item 5. Other Information.
On February 12, 1998, the Company issued a press release announcing the
offering, through an underwritten private placement, of $125 million aggregate
principal amount of convertible subordinated debentures. This press release,
which is filed as Exhibit 99.1 hereto, is incorporated herein by reference.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
Exhibit Number Description
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99.1 Press Release, dated February 12, 1998.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this current report to be signed on its behalf by
the undersigned thereunto duly authorized.
Date: February 13, 1998
EQUITY CORPORATION INTERNATIONAL
By: /s/ W. Cardon Gerner
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Senior Vice President and
Chief Financial Officer
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EXHIBIT INDEX
EXHIBIT INDEX DESCRIPTION
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99.1 Press Release, dated February 12, 1998.
EQUITY CORPORATION INTERNATIONAL OFFERS $125 MILLION OF CONVERTIBLE
SUBORDINATED DEBENTURES
LUFKIN, TX, Feb. 12, 1998 -- Equity Corporation International (NYSE: EQU),
announced today that it is offering, through an underwritten private
placement, $125 million aggregate principal amount of convertible
subordinated debentures. Proceeds from the private placement will be used
to pay down the company's existing revolving credit facility.
The debentures will be due December 31, 2004, will be convertible into
common shares based on a conversion price to be determined, and may not be
redeemed prior to January 1, 2001.
The debentures offered hereby have not been registered under the Securities
Act of 1933, as amended, and may not be offered or sold in the United
States absent registration or an applicable exemption from registration
requirements.
The company has agreed to file within 60 days after the consummation of the
offering of the debentures, and to use its reasonable efforts to have
declared effective, a registration statement under the Securities Act of
1933, as amended, to register resales of the debentures and the common
stock issuable upon conversion thereof.
