-----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, OyF2fU5xzGXlYfWJ9waZuP0cYXkn59s2oZr6Nf5rkSgC0THFVn4yTRTPDJbCpw1I BCSm2KUFirJk1l0B8P+REQ== 0000950144-05-004050.txt : 20050419 0000950144-05-004050.hdr.sgml : 20050419 20050419170345 ACCESSION NUMBER: 0000950144-05-004050 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050414 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050419 DATE AS OF CHANGE: 20050419 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADVOCAT INC CENTRAL INDEX KEY: 0000919956 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-SKILLED NURSING CARE FACILITIES [8051] IRS NUMBER: 621559667 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12996 FILM NUMBER: 05759834 BUSINESS ADDRESS: STREET 1: 277 MALLORY STATION RD STREET 2: STE 130 CITY: FRANKLIN STATE: TN ZIP: 37067 BUSINESS PHONE: 6157717575 MAIL ADDRESS: STREET 1: 227 MALLORY STATION ROAD STREET 2: SUITE 130 CITY: FRANKLIN STATE: TN ZIP: 37064 8-K 1 g94653e8vk.htm ADVOCAT, INC. ADVOCAT, 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 19, 2005 (April 14, 2005)

ADVOCAT INC.

(Exact name of registrant as specified in its charter)
         
Delaware   001-12996   62-1559667
         
(State or other
jurisdiction of
incorporation) 		  (Commission File
Number) 		  (Employer
Identification
Number)

277 Mallory Station Road, Suite 130, Franklin, Tennessee 37067
(Address of principal executive offices)

(615) 771-7575
(Registrant’s telephone number, including area code)

Not applicable
(Former name or former address, if changed since last report)

     Check the appropriate box below if the Form 8-K 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 1.01. Entry into a Material Definitive Agreement.

     On April 14, 2005 Advocat Inc. (the “Company”) entered into (i) a Sixth Amendment to Master Amendment to Loan Documents and Agreement with AmSouth; (ii) an Eighth Amendment to Renewal Promissory Note by and among AmSouth Bank and Diversicare Assisted Living Services, NC, LLC; (iii) an Eighth Amendment to Renewal Promissory Note (Overline Facility) by and among AmSouth Bank and Diversicare Management Services, Co.; and (iv) a First Amendment to Replacement Reduced and Modified Renewal Revolving Promissory Note by and among AmSouth Bank and Diversicare Management Services, Co. Pursuant to these amendments, AmSouth has agreed to further extend the maturity dates of the Notes to January 29, 2006 and AmSouth has agreed to temporarily forbear from exercising its remedies upon default subject to the terms and conditions set forth in the amendments. A press release announcing these amendments is attached as an exhibit hereto.

Item 9.01. Financial Statements and Exhibits.

     (c) Exhibits

         
Number   Exhibit
  99.1    
Press release dated April 19, 2005

 

 

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.
         
  ADVOCAT INC.
 		  
  By:   /s/ L. Glynn Riddle, Jr.    
    L. Glynn Riddle, Jr   
    Chief Financial Officer   
 

Date: April 19, 2005

 

 

EXHIBIT INDEX

         
Number   Exhibit
  99.1    
Press Release dated April 19, 2005.

 

EX-99.1 2 g94653exv99w1.txt EX-99.1 PRESS RELEASE DATED APRIL 19, 2005 ADVOCAT INC. 277 MALLORY STATION ROAD, SUITE 130 FRANKLIN, TENNESSEE 37067 (615) 771-7575 NEWS RELEASE Contact: William R. Council, III Chief Executive Officer ADVOCAT EXTENDS MATURITIES ON CERTAIN DEBT FRANKLIN, Tenn. - (April 19, 2005) - Advocat Inc. (NASDAQ OTC: AVCA) today announced that it executed an agreement to extend the maturities of its working capital line of credit and other borrowings with its primary bank lender. Under terms of the agreement, the bank has agreed to extend the maturity dates of the indebtedness to January 29, 2006 and to temporarily forbear from exercising its remedies upon default subject to the terms and conditions set forth in the amendments. The interest rate on indebtedness other than the working capital line was revised to prime rate plus 1/2% up to a maximum of 7.5%, and the interest rate on the working capital line of credit remained unchanged at prime plus 1/2% up to a maximum of 9.5%. Forward-looking statements made in this release involve a number of risks and uncertainties, including but not limited to, uncertainty regarding the Company's ability to restructure or refinance its debt, the impact of under-insured professional liability claims, factors affecting the long-term care industry in general, governmental reimbursement, government regulation, health care reforms, the impact of future licensing surveys, changing economic and market conditions and other risk factors detailed in the Company's Securities and Exchange Commission filings. Advocat Inc. is not responsible for updating the information contained in this press release beyond the published date, or for changes made to this document by wire services or Internet services. Advocat Inc. provides long-term care services to nursing home patients and residents of assisted living facilities in nine states, primarily in the Southeast. For additional information about the Company, visit Advocat's web site: http://www.irinfo.com/avc -----END PRIVACY-ENHANCED MESSAGE-----