-----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, UL4ciTMWl4nnCVPs2odvPpyfW52rdQ43P/mWF/JKRMZsAg0hy6RFsCCmSXLGL1uF IMsI3xH7CqkwxqTLiZa4tA== 0000008177-96-000007.txt : 19960424 0000008177-96-000007.hdr.sgml : 19960424 ACCESSION NUMBER: 0000008177-96-000007 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19960423 ITEM INFORMATION: Acquisition or disposition of assets ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19960423 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: ATLANTIC AMERICAN CORP CENTRAL INDEX KEY: 0000008177 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-FURNITURE STORES [5712] IRS NUMBER: 581027114 STATE OF INCORPORATION: GA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-03722 FILM NUMBER: 96549560 BUSINESS ADDRESS: STREET 1: 4370 PEACHTREE RD NE CITY: ATLANTA STATE: GA ZIP: 30319 BUSINESS PHONE: 4042665500 MAIL ADDRESS: STREET 1: 4370 PEACHTREE ROAD CITY: ATLANTA STATE: GA ZIP: 30319 8-K 1 DISPOSITION OF LEATH 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 23, 1996 -------------- (April 8, 1996) Atlantic American Corporation ----------------------------- (Exact name of registrant as specified in its charter) Georgia 0-3722 58-1027114 - --------------- ---------------- ------------------ (State or other (Commission File (IRS Employer jurisdiction of Number) Identification No. incorporation) 4370 Peachtree Road, N.E., Atlanta, Georgia 30319 ------------------------------------------- ---------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (404) 266-5500 - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report) Exhibit Index at Page 4 Page 1 of 5 Item 2. Acquisition or Disposition of Assets. ------------------------------------- On April 8, 1996, Atlantic American Corporation (the "Company") completed the previously announced disposition of its approximately 82% interest in Leath Furniture, LLC (f/k/a Leath Furniture, Inc.) ("Leath") to Gulf Capital Services, Ltd. ("Gulf Capital"). The Company received approximately $5.3 million cash for its interest in Leath, all of which was used to reduce outstanding indebtedness of the Company. As a result of the transaction, Leath's balance sheet and results of operations will no longer be reflected in the Company's financial statements. Gulf Capital is an entity that is controlled by J. Mack Robinson, the Chairman of the Board of the Company, but is not part of the Atlantic American Corporation group of companies. Item 7. Financial Statements and Exhibits. ---------------------------------- (a) Financial statements of businesses acquired. Not Applicable. (b) Pro forma financial information. Financial information that gives effect to the disposition of the Company's interest in Leath is contained in the Company's financial statements included as Item 14 of the Company's Annual Report on Form 10-K for the year ended December 31, 1995, and is incorporated herein by reference. (c) Exhibits 99.1 -- Press Release issued April 10, 1996 2 SIGNATURE --------- 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. ATLANTIC AMERICAN CORPORATION By: /s/ JOHN W. HANCOCK ---------------------------- Name: John W. Hancock Title: Senior Vice President and Treasurer Date: April 23, 1996 3 EX-99.1 2 PRESS RELEASE DATED APRIL 10, 1996 Exhibit Index Exhibit No. Description of Exhibits Page - ----------- ----------------------- ---- 99.1 -- Press Release issued April 10, 1996 5 4 EXHIBIT 99.1 ------------ NEWS RELEASE For further information contact: For Immediate Release John W. Hancock - --------------------- Senior Vice President and Treasurer Atlantic American Corporation (404) 266-5500 ATLANTIC AMERICAN CORPORATION COMPLETES ITS SALE OF LEATH FURNITURE, INC. ATLANTA, April 10, 1996 -- Atlantic American Corporation (NASDAQ-AAME) today announced that as of April 8, 1996, it had completed the sale of its previously announced disposition of Leath Furniture, Inc. to Gulf Capital Services, Ltd. The Company received $5.3 million for its interest in Leath. Atlantic American plans to use the proceeds from this sale to reduce debt. As a result of the transaction, Leath's outstanding debt and results of operations will no longer be reflected in Atlantic American's financial statements. Gulf Capital is an entity that is controlled by J. Mack Robinson, the Chairman of the Board of Atlantic American, but is not part of the Atlantic American group of companies. Atlantic American is an insurance holding company involved in specialty markets of the life, health, property and casualty insurance industries. Its subsidiaries include Atlantic American Life Insurance Company, Bankers Fidelity Life Insurance Company, Georgia Casualty & Surety Company, American Southern Insurance Company and American Safety Insurance Company. -----END PRIVACY-ENHANCED MESSAGE-----