-----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, Igb+AgIQxyO4dGilAXw4XOD2B7lEERVQ+fGo40/lG1IWc1dzycaQ0PnEswMqlswu CSJXKvIBj+MhTpfH0McvBg== 0001144204-07-066245.txt : 20071206 0001144204-07-066245.hdr.sgml : 20071206 20071206171822 ACCESSION NUMBER: 0001144204-07-066245 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20071206 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20071206 DATE AS OF CHANGE: 20071206 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LANGER INC CENTRAL INDEX KEY: 0000725460 STANDARD INDUSTRIAL CLASSIFICATION: ORTHOPEDIC, PROSTHETIC & SURGICAL APPLIANCES & SUPPLIES [3842] IRS NUMBER: 112239561 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-12991 FILM NUMBER: 071290305 BUSINESS ADDRESS: STREET 1: 450 COMMACK ROAD CITY: DEER PARK STATE: NY ZIP: 11729 BUSINESS PHONE: 6136671200 MAIL ADDRESS: STREET 1: 450 COMMACK ROAD CITY: DEER PARK STATE: NY ZIP: 11729 8-K 1 v096654_8-k.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): December 6, 2007

Langer, Inc.
(Exact name of registrant as specified in its charter)


Delaware
(State or other jurisdiction
of incorporation)
1-12991
(Commission File Number)
11-2239561
(IRS Employer
Identification Number)

450 Commack Road, Deer Park, New York
(Address of principal executive offices)
11729-4510
(Zip Code)

Registrant’s telephone number, including area code: 631-667-1200

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:

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.
 
On December 6, 2007, the Registrant issued a press release announcing that it has authorized a common stock repurchase program. A copy of the press release is furnished as Exhibit 99.1 of this Current Report.

The information in this Form 8-K and the exhibit attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.
 
Item 9.01
Financial Statements and Exhibits.

(d)
Exhibits.

 
99.1
Press Release dated December 6, 2007, with respect to the Registrant's common stock repurchase program (furnished only).



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.
 
     
 
Langer, Inc.
 
 
 
 
 
 
Date: December 6, 2007
By:   /s/ Kathleen P. Bloch
 
Kathleen P. Bloch, Vice President and Chief Financial Officer
   

 


Exhibit Index


99.1
Press Release dated December 6, 2007, with respect to the Registrant's common stock repurchase program (furnished only).
 
 
 
 

EX-99.1 2 v096654_ex99-1.htm

 
CONTACT:
W. Gray Hudkins
 
President and
 
Chief Executive Officer
 
(212) 687-3260
 
ghudkins@langerinc.com
   
 
Kathleen P. Bloch
 
Vice President and
 
Chief Financial Officer
 
(212) 687-3260
 
kbloch@langerinc.com


FOR IMMEDIATE RELEASE
 
LANGER ANNOUNCES COMMON STOCK REPURCHASE PROGRAM

Deer Park, New York - December 6, 2007 - Langer, Inc. (NASDAQ:GAIT) today announced that its Board of Directors has authorized the purchase of up to $2,000,000 of its outstanding common stock, at such prices, and on such other terms and conditions, as the Chief Executive Officer of the Company may determine from time to time. Purchases may be made in the open market, in privately negotiated transactions, in block purchases, or by such other means as the Chief Executive Officer may determine from time to time. The Company is not obligated or otherwise committed to purchase any shares and will not necessarily invest the full authorized amount of $2,000,000 in the purchase of the Company's common stock. The actual number of shares to be purchased and the purchase prices to be paid by the Company will depend in part on market conditions. The Company may terminate the purchase of its Common Stock at any time in its discretion.
 
The Company's senior lender, Wachovia Bank, National Association, has currently waived, until March 31, 2008, the provisions of the credit facility that would otherwise preclude the Company from making purchases of its common stock, provided that the Company is not in default of the credit facility and provided that "Excess Availability" (as defined in the credit facility) is at least $3,000,000. At the present time, "Excess Availability" is approximately $5.9 million.
 

About Langer, Inc.
 
Langer, Inc., together with its wholly owned subsidiaries Silipos, Inc. and Regal Medical, Inc., is a provider of quality medical products and services targeting the long-term care, orthopedic, orthotic and prosthetic markets. Through its wholly owned subsidiaries Twincraft, Inc. and Silipos, Inc., the Company offers a diverse line of bar soap and other skincare products for the private label retail, medical and therapeutic markets. The Company sells its medical products primarily in the U.S. and Canada, and in more than 30 other countries, to national, regional, international and independent medical distributors and directly to healthcare professionals and patients. The Company sells its personal care products primarily in North America to branded marketers of such products, specialty retailers, direct marketing companies, and companies that service various amenities markets. Langer is based in Deer Park, NY, and has additional manufacturing facilities in Niagara Falls, NY, Winooski, VT, Montreal, Canada, and Stoke-on-Trent, England, and sales and marketing offices in Toronto, Canada; King of Prussia, PA; and New York, NY. You can learn more about us by visiting our website at www.langerinc.com.

Forward-looking Statements
 
Certain matters discussed in this press release constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those projected. The Company may use words such as "anticipates," "believes," "plans," "expects," "intends," "future" and similar expressions to identify forward-looking statements. These risks and uncertainties, relating to both ongoing operations and acquisitions, are described in the Company’s filings with the Securities and Exchange Commission, including its 2006 Form 10-K and most recently filed Form 10-Qs and Form 8-Ks.
 
 
2

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