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): October 29, 1997
Bandag, Incorporated
(Exact name of registrant as specified in its charter)
Iowa 001-07007 42-0802143
(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification No.)
incorporation)
2905 North Highway 61, Muscatine, Iowa 52761
(Address of principal executive offices including zip code)
(319) 262-1400
(Registrant's telephone number)
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Item 2. Acquisition or Disposition of Assets.
(a) On October 29, 1997, Bandag, Incorporated, an Iowa
corporation ("Bandag"), through its wholly owned subsidiary BTC, Inc., a
Delaware corporation, sold 2,395,000 shares of HON INDUSTRIES Inc. Common
Stock (the "HON Stock") in a registered public offering (the "Offering")
pursuant to a Registration Statement on Form S-3 filed by HON INDUSTRIES
Inc. with the Securities and Exchange Commission. Upon consummation of
the Offering, Bandag held no shares of Common Stock of HON INDUSTRIES Inc.
The purchase price per share, negotiated with the underwriters
for the Offering, was $52 and resulted in gross proceeds from the Offering
of $124,540,000.
Bandag intends to use the proceeds of the Offering in its
previously announced purchase of five of its franchises.
Edgar D. Jannotta, a director of Bandag, is Senior Director of
William Blair & Company, L.L.C. ("Blair"), one of the underwriters for the
Offering. Blair is a market maker in the HON Stock and, as such, may from
time to time have a long or short position in the HON Stock.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits.
(a) None.
(b) None.
(c) None.
Pursuant to the requirements of the Securities Exchange Act of
1934, Bandag has duly caused this Current Report on Form 8-K to be signed
on its behalf by the undersigned thereunto duly authorized.
Bandag, Incorporated
By: /s/ Warren W. Heidbreder
Warren W. Heidbreder, Vice President,
Chief Financial Officer
