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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): September 9, 1996
SPEEDWAY MOTORSPORTS, INC.
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(Exact name of Registrant as Specified in Charter)
Delaware 1-13582 51-0363307
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
U.S. Highway 29 North, Concord, North Carolina 28026
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (704) 455-3239
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(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events
On September 9, 1996, Speedway Motorsports, Inc. (the "Company") issued a
press release that is attached to this report on Form 8-K as Exhibit 99.1.
Item 7. Financial Statements, PRO FORMA Financial Information and Exhibits.
(c) Exhibits.
Exhibit Number Description
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99.1 Press Release dated September 9, 1996.
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.
SPEEDWAY MOTORSPORTS, INC.
Date: September 9, 1996 By: /s/ William R. Brooks
William R. Brooks
Vice President, Chief Financial
Officer, Treasurer and Director
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EXHIBIT 99.1
FOR IMMEDIATE RELEASE CONTACT: Marylaurel Wilks,
Director of Investor Relations
(704) 455-3239
SPEEDWAY MOTORSPORTS, INC. ANNOUNCES PROPOSED PRIVATE
OFFERING OF CONVERTIBLE SUBORDINATED DEBENTURES DUE 2003
CHARLOTTE, NC, September 9, 1996. Speedway Motorsports, Inc. (NYSE-TRK)
announced today that it proposes to make a private offering of up to $77 million
in aggregate principal amount of convertible subordinated debentures due 2003.
The debentures will be unsecured debt obligations, subordinated to all present
and future senior indebtedness of Speedway Motorsports. The debentures can be
converted into Speedway Motorsports common stock.
Speedway Motorsports intends to use the net proceeds of the offering to
repay certain existing indebtedness, to fund the completion of the construction
of a superspeedway in Fort Worth, Texas and for general corporate purposes.
The debentures and the underlying common stock have not been registered
under the Securities Act of 1933 and may not be offered or sold in the United
States absent registration or an applicable exemption from the registration
requirements of the Securities Act and applicable state securities laws.
The debentures will be offered only to "qualified institutional buyers" (as
defined in Rule 144A under the Securities Act) in reliance on the exemption from
the registration requirements provided by Rule 144A, certain institutional
"accredited investors" (as defined in Rule 501(a)(1), (2), (3) or (7) under the
Securities Act) and outside the United States to certain persons in reliance on
Regulation S under the Securities Act.
This press release shall not constitute an offer to sell or the
solicitation of any offer to buy the debentures.
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