0001261654-17-000016.txt : 20170223 0001261654-17-000016.hdr.sgml : 20170223 20170223161844 ACCESSION NUMBER: 0001261654-17-000016 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20170223 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20170223 DATE AS OF CHANGE: 20170223 FILER: COMPANY DATA: COMPANY CONFORMED NAME: UNIVERSAL TECHNICAL INSTITUTE INC CENTRAL INDEX KEY: 0001261654 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EDUCATIONAL SERVICES [8200] IRS NUMBER: 860226984 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-31923 FILM NUMBER: 17632740 BUSINESS ADDRESS: STREET 1: 16220 NORTH SCOTTSDALE ROAD STREET 2: SUITE 100 CITY: SCOTTSDALE STATE: AZ ZIP: 85254 BUSINESS PHONE: 623-445-9500 MAIL ADDRESS: STREET 1: 16220 NORTH SCOTTSDALE ROAD STREET 2: SUITE 100 CITY: SCOTTSDALE STATE: AZ ZIP: 85254 8-K 1 hcm1removal8-k.htm 8-K Document


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):
 
February 23, 2017
Universal Technical Institute, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)
 
 
 
Delaware
1-31923
86-0226984
_____________________
(State or other jurisdiction
_____________
(Commission
______________
(I.R.S. Employer
of incorporation)
File Number)
Identification No.)
  
 
 
16220 North Scottsdale Road, Suite 100, Scottsdale, Arizona
 
85254
_________________________________
(Address of principal executive offices)
 
___________
(Zip Code)
 
 
 
Registrant’s telephone number, including area code:
 
623-445-9500
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 8.01 Other Events.

On February 23, 2017, Universal Technical Institute, Inc. (the “Company”) issued a press release announcing that the U.S. Department of Education (“ED”) has completed its review of the Company’s audited financial statements for the year ended September 30, 2016.  As a result of the Company’s improved financial strength and compliance within ED guidelines, the Company will no longer be subjected to Heightened Cash Monitoring 1 restrictions under the Zone Alternative, imposed by ED beginning in October 2016.  A copy of the press release regarding the Amendment is attached hereto as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits
The exhibit to this Current Report is listed in the Exhibit Index set forth elsewhere herein.

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.
 
 
 
 
 
 
 
Universal Technical Institute, Inc.
  
 
 
 
 
February 23, 2017
 
By:
 
/s/ Chad A. Freed
 
 
 
 
 
 
 
 
 
Name: Chad A. Freed
 
 
 
 
Title: General Counsel, Executive Vice President of Corporate Development



Exhibit Index

 
 
 
Exhibit No.
 
Description
 
 
 
99.1
 
Press Release of Universal Technical Institute, Inc., dated February 23, 2017



 EX-99.1 2 ex991pressrelease22317.htm EXHIBIT 99.1 Exhibit

Exhibit 99.1

Contact:

Bryce Peterson
Chief Financial Officer
Universal Technical Institute, Inc.    
(623) 445-0993

Universal Technical Institute, Inc. Meets Financial Standards Set by U.S. Department of Education

SCOTTSDALE, ARIZ. - February 23, 2017 - Universal Technical Institute, Inc. (NYSE: UTI), the leading provider of transportation technician training, announced today that the U.S. Department of Education has completed its review of UTI's 2016 audited financial statements and determined that the company will no longer be subjected to Heightened Cash Monitoring 1 restrictions under the Zone Alternative. The Department of Education imposed these restrictions on UTI in October 2016.

“We are pleased that the Department of Education has confirmed our composite score exceeds financial responsibility standards,” said Kim McWaters, President & CEO. “Being released from Zone Alternative requirements reflects our strengthened financial position and reduces administrative burden, which ultimately allows us to better support and serve our students.”

About Universal Technical Institute, Inc.
Headquartered in Scottsdale, Arizona, Universal Technical Institute, Inc. (NYSE: UTI) is the leading provider of post-secondary education for students seeking careers as professional automotive, diesel, collision repair, motorcycle and marine technicians. With more than 200,000 graduates in its 52-year history, UTI offers undergraduate degree and diploma programs at 12 campuses across the United States, as well as manufacturer-specific training programs at dedicated training centers. Through its campus-based school system, UTI provides specialized post-secondary education programs under the banner of several well-known brands, including Universal Technical Institute (UTI), Motorcycle Mechanics Institute and Marine Mechanics Institute (MMI) and NASCAR Technical Institute (NASCAR Tech). For more information visit www.uti.edu.

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