SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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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): MAY 4, 1999
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NUCO2 INC.
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(Exact Name of Registrant as Specified in Charter)
FLORIDA 0-27378 65-0180800
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
2800 S.E. MARKET PLACE, STUART, FLORIDA 34997
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (561) 221-1754
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N/A
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(Former Name or Former Address, if Changed Since Last Report.)
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Item 5. OTHER EVENTS.
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Exhibit 99.1 to this Form 8-K is incorporated herein by reference.
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
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INFORMATION AND EXHIBITS.
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(c) Exhibits
EXHIBIT NO. DESCRIPTION
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99.1 Press Release dated May 10, 1999
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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.
NUCO2 INC.
Dated: May 10, 1999 By: /S/ ERIC M. WECHSLER
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Eric M. Wechsler
General Counsel
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Exhibit 99.1
NuCo2 Inc.
2800 SE Market Place, Stuart, Florida 34997
www.nuco2.com
e-mail: [email protected]
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FOR IMMEDIATE RELEASE CONTACT: EDWARD M. SELLIAN
CHAIRMAN & CEO
(561) 221-1754
NUCO2(R) ENTERS INTO $75.0 MILLION REVOLVING CREDIT FACILITY AND SELLS
$10.0 MILLION OF ITS 12% SENIOR SUBORDINATED PROMISSORY NOTES
(Stuart, Florida, May 10, 1999) - NuCo2 Inc. (Nasdaq/National Market:
NUCO) announced today that it has received an increase in its facility from a
syndicate of banks led by SunTrust Bank, South Florida, National Association to
a $75.0 million, three year revolving credit facility.
The Company further reported today that it closed on the sale of $10.0
million of its 12% Senior Subordinated Promissory Notes Due 2005. The purchasers
of the Notes were institutional investors; Chase Equity Associates, L.P., an
existing holder of the Company's 12% Senior Subordinated Notes Due 2004; and
SunTrust Banks, Inc., an affiliate of SunTrust Bank, South Florida, National
Association. The Notes were sold with warrants to purchase 372,892 shares of the
Company's Common Stock at an exercise price of $6.65 per share.
Edward M. Sellian, Chairman and CEO, said "The increased facility is
for capital expenditures to continue our strong growth to build NuCo2's market
position and profitability."
Commenting on SunTrust's growing commitment to NuCo2, Russell E.
Burnette, Vice President, SunTrust Bank, South Florida, N.A., said "In addition
to the increase in the revolving credit facility, an affiliate of SunTrust Bank
purchased $1.3 million of the 12% Senior Subordinated Promissory Nots Due 2005
and SunTrust looks forward to seeing the Company complete its expansion
throughout the U.S."
NuCo2 Inc. is the largest company in the industry that applies bulk CO2
systems and liquid carbon dioxide to retail establishments for use in the
carbonation and dispensing of fountain beverages. Further information about
NuCo2 Inc. may be obtained at the Company's web site at www.nuco2.com.
This press release contains certain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, which are
intended to be covered by the safe harbors created thereby. Investors are
cautioned that all forward-looking statements involve risks and uncertainty,
including without limitation, the ability of the Company to market and develop
its products. Although the Company believes that the assumptions underlying the
forward-looking statements contained herein are reasonable, any of the
assumptions could be inaccurate, and therefore, there can be no assurance that
the forward-looking statements included in this press release will prove to be
accurate. In light of the significant uncertainties inherent in the
forward-looking statements included herein, the inclusion of such information
should not be regarded as a representation by the Company or any other person
that the objectives and plans of the Company will be achieved.
