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) August 27, 2007
LSB
INDUSTRIES, INC.
(Exact
name of registrant as specified in its charter)
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Delaware
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1-7677
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73-1015226
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(State
or other jurisdiction
of
incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification
No.)
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16
South Pennsylvania, Oklahoma City, Oklahoma
(Address of principal executive offices) |
73107
(Zip
Code) |
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Registrant's
telephone number, including area code
(405) 235-4546
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 (see General Instruction A.2. below):
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
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Section
8 – Other Events
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Item
8.01 Other
Events.
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On
August
27, 2007, LSB Industries, Inc. (“LSB”) completed the redemption of all of its
outstanding $3.25 Convertible Exchangeable Class C Preferred Stock, Series
2
(“$3.25 Preferred”). The redemption price was $50.00 per share of
$3.25 Preferred, plus $26.25 per share in accrued and unpaid dividends pro-rata
to the date of redemption. A total of 25,820 shares of $3.25
Preferred were redeemed for an aggregate redemption price, including accrued
and
unpaid dividends, of approximately $1,969,000.
Prior
to
the redemption, holders of the $3.25 Preferred converted 167,475 shares of
$3.25
Preferred into 724,993 shares of common stock, based on the conversion rate
of
4.329 shares of common for each share of $3.25 Preferred. Pursuant to
the terms of the $3.25 Preferred, holders converting shares of $3.25 Preferred
were not entitled to any accrued and unpaid dividends as to the shares of
$3.25
Preferred converted.
As
of
August 27, 2007, no shares of $3.25 Preferred remain outstanding.
Section
9 – Financial Statements and Exhibits
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Item
9.01 Financial Statements and
Exhibits.
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(c) Exhibits.
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99.1
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Press
release, dated August 27, 2007.
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Company has
duly
caused this report to be signed on its behalf by the undersigned hereunto
duly
authorized.
Dated: August
30, 2007
LSB
INDUSTRIES, INC.
By: /s/
Jim D. Jones
Jim
D.
Jones
Senior
Vice President,
Corporate
Controller and Treasurer
(Principal
Accounting Officer)
COMPANY
CONTACT: Investor
Relations Contact:
Tony
M.
Shelby, Chief Financial Officer Linda
Latman (212) 836-9609
(405)
235-4546
Lena
Cati
(212) 836-9611
The
Equity Group Inc.
FOR
IMMEDIATE RELEASE
LSB
INDUSTRIES, INC. ANNOUNCES COMPLETION OF
REDEMPTION
OF ALL OUTSTANDING $3.25 CONVERTIBLE EXCHANGEABLE CLASS C PREFERRED
STOCK
Oklahoma
City, Oklahoma – August 27, 2007 - LSB Industries, Inc. (“LSB” or the
“Company”), (AMEX: LXU), today announced the completion of redemption of all of
its outstanding $3.25 Convertible Exchangeable Class C Preferred Stock (“$3.25
Preferred”). Under the redemption, as announced by LSB on July 12,
2007, holders of the 193,295 outstanding shares of $3.25 Preferred would
receive
$50.00 per share plus $26.25 in accrued and unpaid dividends. The
holders also had the right to convert each share of $3.25 Preferred into
4.329
shares of LSB common stock, and, as stated in the Redemption Notice, pursuant
to
the terms of the $3.25 Preferred, a holder that elects to convert shares
of
$3.25 Preferred would not be entitled to receive any accrued and unpaid
dividends on those shares of $3.25 Preferred that are converted. As
of August 27, 2007, a total of 167,475 shares of $3.25 Preferred were
converted into 724,993 shares of LSB common stock, and 25,820 shares of $3.25
Preferred were redeemed by LSB for approximately $1,969,000, leaving no shares
of $3.25 Preferred outstanding.
LSB
is a
manufacturing, marketing and engineering company. LSB’s principal
business activities consist of the manufacture and sale of commercial and
residential climate control products, such as geothermal and water source
heat
pumps, hydronic fan coils, large custom air handlers, the manufacture and
sale
of chemical products for the mining, agricultural and industrial markets,
and
the provision of specialized engineering services and other activities. LSB
Industries is included in the Russell 2000 Index and the Russell 3000
Index.
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