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EX-99.1 - PRESS RELEASE - Horizon Lines, Inc. | d281589dex991.htm |
UNITED STATES
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): January 11, 2012
HORIZON LINES, INC.
(Exact name of registrant as specified in its Charter)
Delaware | 001-32627 | 74-3123672 | ||
(State or Other Jurisdiction of Organization) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
4064 Colony Road, Suite 200
Charlotte, North Carolina 28211
(Address of Principal Executive Offices, including Zip Code)
(704) 973-7000
(Registrants telephone number, including area code)
N/A
(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:
¨ | 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 8.01. Other Events.
On January 11, 2012, Horizon Lines, Inc. (the Company) announced that it has completed the mandatory debt-to-equity conversion of approximately $49.7 million of the Companys 6.00% Series B Mandatorily Convertible Senior Secured Notes (the Series B Notes). Under the terms of the Companys recapitalization plan that was undertaken in October 2011, on January 10, 2012, the Company mandatorily converted approximately $49.7 million of the Series B Notes at a conversion rate of 54.7196 shares of common stock (reflecting the 1-for-25 reverse stock split of the Companys common stock effective December 7, 2011) per $1,000 principal amount of Series B Notes. Approximately $18.5 million of the Series B Notes were converted into 1,014,839 shares of common stock with the remainder being converted into warrants exercisable into shares of common stock. A copy of the press release is attached as Exhibit 99.1 hereto, and is herein incorporated by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
99.1 | Press Release of Horizon Lines, Inc. dated January 11, 2012. |
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.
HORIZON LINES, INC. | ||||||
(Registrant) | ||||||
Date: January 12, 2012 | By: | /s/ Michael T. Avara | ||||
Michael T. Avara | ||||||
Executive Vice President and Chief Financial Officer |
Exhibit Index
Item 9.01 Financial Statements and Exhibits.
(d) | Exhibits |
99.1 | Press Release of Horizon Lines, Inc. dated January 11, 2012. |