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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 25, 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 25, 1998, the Company issued a press release announcing the
completion of a private placement of $125 million aggregate principal amount of
4.5 percent 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 25, 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 26, 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 25, 1998.
EXHIBIT 99.1
NEWS RELEASE
EQUITY CORPORATION INTERNATIONAL
P.O. Drawer 100, Lufkin, Texas 75902-0100
CONTACT: W. Cardon Gerner, (409) 631-8703
FOR IMMEDIATE RELEASE:
EQUITY CORPORATION INTERNATIONAL COMPLETES PRIVATE OFFERING OF $125
MILLION OF 4.5 PERCENT CONVERTIBLE DEBENTURES
LUFKIN, TX, Feb. 25, 1998 -- Equity Corporation International (NYSE:
EQU), announced today that it has completed a private placement of $125
million aggregate principal amount of 4.5 percent convertible
subordinated debentures. Proceeds from this private placement will be
used to pay down the company's existing revolving credit facility.
The debentures mature on December 31, 2004, are convertible into shares
of the company's common stock at a conversion price of $27.09 per share,
and may not be redeemed prior to February 26, 2001.
The debentures 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, 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.
