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EX-99.1 - EX-99.1 - FiberTower CORPa12-16570_1ex99d1.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): July 17, 2012

 

FIBERTOWER CORPORATION

(Exact name of registrant as specified in its charter)

 

Delaware

 

000-21091

 

52-1869023

(State or other jurisdiction of incorporation
or organization)

 

(Commission File Number)

 

(I.R.S. Employer Identification No.)

 

185 Berry Street

 

 

Suite 4800

 

 

San Francisco, California

 

94107

(Address of principal executive offices)

 

(Zip Code)

 

(Registrant’s telephone number, including area code):  (415) 659-3500

 

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):

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 



 

ITEM 1.03                                  BANKRUPTCY OR RECEIVERSHIP.

 

On July 17, 2012, FiberTower Corporation (the “Company”) and certain of its subsidiaries (the “Filing Subsidiaries,” and together with the Company, the “Debtors”) filed voluntary petitions for relief (the “Bankruptcy Filing”) under chapter 11 of title 11 of the United States Bankruptcy Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the Northern District of Texas, Fort Worth division (the “Bankruptcy Court”), case number 12-44027. The Debtors will continue to operate their businesses as “debtors-in-possession” under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code and the orders of the Bankruptcy Court.

 

ITEM 2.04                                  TRIGGERING EVENTS THAT ACCELERATE OR INCREASE A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT.

 

The Bankruptcy Filing described in Item 1.03 above constituted an event of default with respect to the following debt instruments (the “Debt Documents”):

 

·                  Indenture, dated as of November 9, 2006, among FiberTower Corporation, as issuer, the guarantors named therein, and U.S. Bank National Association (successor to Wells Fargo Bank, National Association), as trustee, as supplemented, with respect to approximately $37 million principal amount, plus accrued and unpaid interest, of the Company’s 9.00% Convertible Senior Secured Notes; and

 

·                  Indenture, dated as of December 22, 2009, among FiberTower Corporation, as issuer, the guarantors named therein, and Wells Fargo Bank, National Association, as trustee, with respect to approximately $132 million principal amount, plus accrued and unpaid interest, of the Company’s 9.00% Senior Secured Notes.

 

The Debt Documents provide that as a result of the Bankruptcy Filing the principal and interest due thereunder shall be immediately due and payable. Any efforts to enforce such payment obligations under the Debt Documents are stayed as a result of the Bankruptcy Filing and the creditors’ rights of enforcement in respect of the Debt Documents are subject to the applicable provisions of the Bankruptcy Code.

 

ITEM 7.01                                  REGULATION FD DISCLOSURE

 

On July 17, 2012, FiberTower Corporation issued a press release announcing (1) that it and certain of its subsidiaries had made the Bankruptcy Filing and (2) providing summarized unaudited financial statements for the periods ending December 31, 2011 and June 30, 2012.  A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.  The information presented under this Item 7.01 shall not be deemed “filed” under the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as may be expressly set forth by specific reference in such filing.

 

ITEM 9.01           FINANCIAL STATEMENTS AND EXHIBITS

 

(d) Exhibits

 

Exhibit

 

 

Number

 

Description

 

 

 

99.1

 

Press release dated July 17, 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.

 

 

 

 

FIBERTOWER CORPORATION

 

 

 

 

 

 

Date: July 18, 2012

By:

/s/ Kurt Van Wagenen

 

 

Name:

Kurt Van Wagenen

 

 

Title:

President and Chief Executive Officer

 

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EXHIBIT INDEX

 

Exhibit

 

 

Number

 

Description

 

 

 

99.1

 

Press release dated July 17, 2012.

 

3