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): May 17, 2016

 

21st CENTURY ONCOLOGY

HOLDINGS, INC.

(Exact Name of Registrant as Specified in Charter)

 

Delaware

(State or Other Jurisdiction of Incorporation)

 

333-170812

 

26-1747745

(Commission File Number)

 

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

 

2270 Colonial Boulevard
Fort Myers, Florida

 

33907

(Address of Principal Executive Offices)

 

(Zip Code)

 

(239) 931-7254
(Registrant’s 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 (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 14d-2(b) 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 8.01                   Other Events.

 

Delivery of Default Notice

 

On May 17, 2016, 21st Century Oncology Holdings, Inc. (the “Company”) received notice from Wilmington Trust, National Association, as trustee (the “Trustee”) of the 11.00% Senior Notes due 2023 (the “Notes”) of 21st Century Oncology, Inc (“21C”), a subsidiary of the Company. The notice states that 21C is in default under the Indenture governing the Notes (the “Indenture”) because 21C failed to timely furnish to the Trustee and noteholders the financial information required in an annual report on Form 10-K for the year ended December 31, 2015. The completion of the Company’s 2015 annual report on Form 10-K has been delayed as a result of the restatement of prior year financial results. Receipt of the notice of default alone does not result in an acceleration of any of the Company’s indebtedness.

 

If the Company does not cure the default specified within the notice within 60 days, the noncompliance will be deemed an Event of Default under the Indenture. Should an Event of Default occur under the Indenture, a cross-default would occur under 21C’s credit agreement (the “Credit Agreement”).

 

Following an Event of Default under the Indenture or Credit Agreement, the holders of the Notes or lenders under the Credit Agreement, as applicable, could accelerate 21C’s indebtedness outstanding under the Indenture or Credit Agreement, as applicable. As of March 31, 2016, 21C had $360 million outstanding under the Indenture and $120 million and $605.4 million outstanding under the revolving portion and term loan portion of the Credit Agreement, respectively. As of that same date, the Company had approximately $72.4 million of cash and cash equivalents.

 

Forward-Looking Statements

 

This Current Report on Form 8-K contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Statements that include the words “believes,” “expects,” “anticipates,” “intends,” “plans,” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts. Forward-looking statements are based on management’s current expectations or beliefs about the Company’s future plans, expectations and objectives. These forward-looking statements are not historical facts and are subject to risks and uncertainties that could cause the actual results to differ materially from those projected in these forward-looking statements. Readers of this Current Report on Form 8-K are cautioned not to place undue reliance on forward-looking statements contained herein, which speak only as of the date of this Current Report on Form 8-K. Please refer to the risk factors contained in the Company’s other filings with the SEC. The Company undertakes no obligation to publicly update or revise the forward-looking statements contained herein to reflect changed events or circumstances after the date of this Current Report on Form 8-K.

 

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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.

 

 

21st CENTURY ONCOLOGY HOLDINGS, INC.

 

 

 

 

 

 

Date: May 17, 2016

By:

/s/ LeAnne M. Stewart

 

 

Name:

LeAnne M. Stewart

 

 

Title:

Chief Financial Officer

 

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