8-K

 

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): December 13, 2007

Dover Saddlery, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)

Delaware	000-51624	04-3438294
_____________________ (State or other jurisdiction	_____________ (Commission	______________ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)
525 Great Road, P.O. Box 1100, Littleton, Massachusetts		01460
_________________________________ (Address of principal executive offices)		___________ (Zip Code)

Registrant’s telephone number, including area code: 978-952-8062

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:

[  ]  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.

On December 13, 2007, Dover Saddlery, Inc. issued a press release reporting the completion of of its new credit facilities with RBS Citizens Bank, N.A. and with a consortium of sub-debt lenders, led by Bay Capital Advisors LLC. A copy of the press release is attached and is being furnished as Exhibit 99.1 to this Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits.

On December 13, 2007, Dover Saddlery, Inc. issued a press release reporting the completion of of its new credit facilities with RBS Citizens Bank, N.A. and with a consortium of sub-debt lenders, led by Bay Capital Advisors LLC. A copy of the press release is attached and is being furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The Company plans to file in the next few business days an additional Current Report on Form 8-K with more information about the new credit facilities and termination of the Company's prior credit facilities, together with the filing, as exhibits thereto, of copies of the pertinent key financing documents.

The information and exhibits submitted in this Report are and shall be deemed to furnished to the Securities and Exchange Commission, and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.

The press release attached as Exhbit 99.1 to this Report includes "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including without limitation statements made about the registrant’s business outlook for fiscal 2007, the prospects for the opening of new stores. Although the registrant believes that the expectations reflected in such forward-looking statements are reasonable at this time, it can give no assurance that such expectations will prove to have been correct. Actual results could differ materially based upon a number of factors including those identified in the press release.

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.

	Dover Saddlery, Inc.
December 13, 2007	By:	/s/ Michael W. Bruns
		Name: Michael W. Bruns
		Title: Chief Financial Officer

Exhibit Index

Exhibit No.	Description
99.1	December 13, 2007 Press Release

EX-99.1

Janet Nittmann

jnittmann@doversaddlery.com

Tel 978-952-8062 x218

For Immediate Release

Dover Saddlery Announces New Debt Refinancing Agreements

LITTLETON, MA – December 13, 2007 Dover Saddlery, Inc. (NASDAQ:DOVR), the leading multi-channel retailer of equestrian products, announced today that it has successfully completed a new debt refinancing package.

Dover Saddlery has negotiated new senior line of credit and subordinated debt facilities. The senior line of credit has been increased to $18 from $16 million, and has been placed with RBS Citizens Bank, with whom Dover Saddlery has a very long-standing relationship. The new sub-debt facility of $5 million has been placed with a consortium of sub-debt lenders, led by BCA Mezzanine Fund LP, and replaces a $3 million loan from Patriot Capital Funding LLC.

“RBS Citizens, N. A. is pleased to provide a new and larger multi-year revolving credit facility for Dover Saddlery and to work with this fine company and its strong management team to help them achieve their vision of the future.  RBS Citizens has had a long relationship with the company and its management, originally helping with a subordinated debt and preferred stock package through its affiliate RBS Citizens Capital. RBS Citizens has maintained close contact with the company and the management team since 1978,” stated Jeffrey C. Hickok, Vice President, Commercial Banking, RBS Citizens Bank.  

“BCA Mezzanine Fund is pleased to provide financing to support the growth of Dover Saddlery. Dover’s position as the leading multi-channel retailer in the equestrian market is well established, and BCA is excited to be partnering with an industry leader,” commented Gregory F. Mulligan, Partner at BCA Mezzanine Fund LP.

“Several lenders provided very competitive proposals in a challenging credit environment. These new agreements contain favorable terms which increase our borrowing availability by $4 million and lower our senior debt cost by 50 to 100 basis points. The new terms provide the flexibility to continue our aggressive retail store rollout plan,” said Stephen L. Day, president and CEO of Dover Saddlery.

About Dover Saddlery, Inc.

Dover Saddlery, Inc. (NASDAQ:DOVR — News), is the leading multi-channel retailer of equestrian products in the United States. Founded in 1975 in Wellesley, Massachusetts, by United States Equestrian team members, Dover Saddlery has grown to become The Source® for equestrian products. Dover offers a broad and distinctive selection of competitively priced, brand-name products for horse and rider through catalogs, the Internet and company-owned retail stores. Dover Saddlery, Inc. serves the English rider and through Smith Brothers, the Western rider. The Source®, Dover Saddlery® and Smith Brothers® are registered marks of Dover Saddlery.

For more information, please call 1-978-952-8062 or visit www.DoverSaddlery.com.

Notice Regarding Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including without limitation statements made about the prospects for opening of new stores. All statements other than statements of historical fact included in this press release regarding the company’s strategies, plans, objectives, expectations, and future operating results are forward-looking statements. Although Dover believes that the expectations reflected in such forward-looking statements are reasonable at this time, it can give no assurance that such expectations will prove to have been correct. These forward-looking statements involve significant risks and uncertainties, including those discussed in this release and others that can be found in “Item 1A Risk Factors” of Dover Saddlery’s Annual Report on Form 10-K for the fiscal year ended December 31, 2006 on file with the Securities and Exchange Commission and in subsequent periodic reports filed with the SEC.

Dover Saddlery is providing this information as of this date and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise. No forward-looking statement can be guaranteed and actual results may differ materially from those Dover Saddlery projects.