-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VrxrV3uyY5vrJerOp1RpebC+ppLu3L5KlZtxN+C6KN24+WMLGhKUHmvvsvSX0X9V XJdRTeryjTxUECTbG3rWew== 0000950144-08-002889.txt : 20080416 0000950144-08-002889.hdr.sgml : 20080416 20080416170036 ACCESSION NUMBER: 0000950144-08-002889 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20080411 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20080416 DATE AS OF CHANGE: 20080416 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LODGIAN INC CENTRAL INDEX KEY: 0001066138 STANDARD INDUSTRIAL CLASSIFICATION: HOTELS & MOTELS [7011] IRS NUMBER: 522093696 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14537 FILM NUMBER: 08760355 BUSINESS ADDRESS: STREET 1: 3445 PEACHTREE ROAD N E SUITE 700 CITY: ATLANTA STATE: GA ZIP: 30326 BUSINESS PHONE: 4043649400 MAIL ADDRESS: STREET 1: 3445 PEACHTREE ROAD N E SUITE 700 CITY: ATLANTA STATE: GA ZIP: 30326 8-K 1 g12797e8vk.htm LODGIAN, INC. LODGIAN, INC.
 

 
 
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): April 11, 2008
Lodgian, Inc.
(Exact Name of Registrant as Specified in Charter)
         
Delaware   001-14537   52-2093696
(State or other jurisdiction   (Commission File Number)   (I.R.S. Employer
of incorporation)       Identification No.)
3445 Peachtree Road, N.E., Suite 700
Atlanta, GA 30326

(Address of principal executive offices)
(404) 364-9400
(Registrant’s telephone number, including area code)
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 7.01.   Regulation FD Disclosure.
On April 16, 2008, Lodgian, Inc. issued a press release, a copy of which is attached hereto as Exhibit 99.1 and incorporated herein by reference.
Item 8.01.   Other Events.
On April 11, 2008, the Company’s Board of Directors approved an additional $10 million in authority under the Company’s previously announced stock repurchase program over a period ending April 15, 2009. The Company issued a press release on April 16, 2008, which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01.   Financial Statements and Exhibits
(d) Exhibits
Exhibit 99.1 — Press release of Lodgian, Inc. dated April 16, 2008.

 


 

          Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
         
  Lodgian, Inc.

Dated: April 16, 2008 
 
  By:   /s Daniel E. Ellis    
    Daniel E. Ellis   
    Senior Vice President, General Counsel and Secretary   
 

3


 

Exhibit Index
     
Exhibit No.   Description
99.1  
Press Release of Lodgian, Inc. dated April 16, 2008

4

EX-99.1 2 g12797exv99w1.htm EX-99.1 PRESS RELEASE OF LODGIAN, INC. DATED APRIL 16, 2008 EXZ-99.1 PRESS RELEASE DATED APRIL 16, 2008
 

EXHIBIT 99.1
(LODGIAN LOGO)
For Immediate Release
Contact:
Debi Ethridge
Vice President, Finance & Investor Relations
dethridge@lodgian.com
(404) 365-2719
Lodgian, Inc. To Continue Stock Repurchase Program
     ATLANTA, Ga., April 16, 2008—Lodgian, Inc. (AMEX: LGN), one of the nation’s largest independent owners and operators of full-service hotels, announced today that its Board of Directors has authorized the repurchase of an additional $10 million of its common stock over a period ending no later than April 15, 2009. This repurchase program follows a $30 million repurchase program announced in August 2007. Under that program, the company repurchased approximately 2.8 million shares at an average price of $10.62 per share, fulfilling that authority on April 7, 2008.
     Any purchases under Lodgian, Inc.’s stock repurchase program may be made, from time to time, in the open market, through block trades or otherwise, including pursuant to a trading plan under Rule 10b5-1 of the Securities and Exchange Act of 1934, as amended. Depending on share price, market conditions, Lodgian’s cash requirements, and other factors, these purchases may be commenced or suspended at any time or from time to time without prior notice. Repurchased shares will be held as treasury stock, and will be available for use in connection
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Lodgian
Page 2
with the company’s stock option plans and other compensation programs, or for other corporate purposes as determined by the company’s board of directors. As of April 11, 2008, the company had 21,975,210 shares of common stock outstanding.
Forward-Looking and Cautionary Statements
     Except for the historical information and discussion contained herein, this press release may constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, related to Lodgian’s operations that are based on management’s current expectations, estimates and projections. These statements are not guarantees of future performance and actual results could differ materially. The words “guidance,” “may,” “should,” “expect,” “believe,” “anticipate,” “project,” “estimate,” “plan,” and similar expressions are intended to identify forward-looking statements.
     Certain factors are not within the company’s control and readers are cautioned not to put undue reliance on forward-looking statements. These statements involve risks and uncertainties including, but not limited to, the company’s ability to generate sufficient working capital from operations, the timing and amount of receipt of insurance proceeds, the marketability of the company’s assets held for sale, the company’s ability to refinance its debt obligations in the ordinary course of business, the company’s ability to successfully pursue alternative uses for certain of its properties, the realization of expected improvements in results of operations, the absence of industry-wide disruptions, and other risks detailed from time to time in the company’s filing with the SEC, including under the heading “Risk Factors” in Lodgian’s most recent Annual Report on Form 10-K. Any forward-looking statement speaks only as of the date on
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Lodgian
Page 3
which the statement is made. The company undertakes no obligations to update events to reflect changed assumptions, the occurrence of unanticipated events or changes to future results over time.
About Lodgian, Inc.
     Lodgian is one of the largest independent owners and operators of full-service hotels in the United States. The company currently manages a portfolio of 46 hotels with 8,432 rooms located in 24 states and Canada. Of the company’s 46-hotel portfolio, 25 are InterContinental Hotels Group brands (Crowne Plaza, Holiday Inn, Holiday Inn Select and Holiday Inn Express), 12 are Marriott brands (Marriott, Courtyard by Marriott, SpringHill Suites by Marriott and Residence Inn by Marriott), three are Hilton brands, and four are affiliated with three other nationally recognized franchisors. Two hotels are independent, unbranded properties. For more information about Lodgian, visit the company’s Web site: www.lodgian.com.
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