UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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): January 20, 2011
SPEEDWAY MOTORSPORTS, INC.
(Exact Name of Registrant as Specified in Its Charter)
Delaware
(State of Other Jurisdiction of Incorporation)
| 1-13582 | 51-0363307 | |
| (Commission File Number) | (IRS Employer Identification No.) | |
| 5555 Concord Parkway South, Concord, NC | 28027 | |
| (Address of Principal Executive Offices) | (Zip Code) | |
(704) 455-3239
(Registrant’s Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 7.01 | Regulation FD Disclosure. |
Speedway Motorsports, Inc. (the “Company”) is currently engaged in negotiations with lenders regarding a new credit facility to replace the Company’s existing credit facility. The terms of the new credit facility have not yet been finalized and, if finalized, the terms may differ materially from the terms of the Company’s existing credit facility. The Company’s current intent is that the new credit facility will provide for aggregate borrowings of up to $250.0 million, comprised of a $100.0 million revolving credit facility and a $150.0 million term loan facility, and will mature four years after the closing date. There can be no assurance that we will obtain the new credit facility on terms and conditions satisfactory to us, or at all.
- 2 -
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. | ||
| January 20, 2011 | /s/ William R. Brooks | |
| William R. Brooks | ||
| Executive Vice President, Chief Financial Officer | ||