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) November
21, 2008
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
Item
8.01. Other Events
On
November 21, 2008, LSB Industries, Inc. (the “Company”) purchased a total of
$4,000,000 aggregate principal amount of its 5.5% Convertible Senior
Subordinated Debentures due 2012 (the “Debentures”) for $2,560,000, plus accrued
interest. This purchase was funded from the Company’s working capital. As a
result of this purchase and the previously disclosed purchases of Debentures by
the Company, the Company has purchased $15 million aggregate principal amount of
Debentures under the authority granted by its Board of Directors on March 11,
2008, and $45 million aggregate principal amount of the Debentures remain
outstanding.
The
Debentures are convertible by the holders, in whole or in part, into shares of
the Company’s common stock prior to their maturity at a conversion rate of 36.4
shares of our common stock per $1,000 principal amount of debentures
(representing a conversion price of $27.47 per share of common stock), subject
to adjustment under certain conditions. The closing price of the Company’s
common stock on November 21, 2008 was $6.90 per share.
In
addition, the Company purchased 200,000 shares of its common stock, par value
$.10 per share, at $7.00 per share, for a total purchase price of $1,400,000. As
a result of this purchase, the Company has repurchased a total of 400,000 shares
of its common stock under the authority granted by its Board of Directors on
March 11, 2008.
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:
November 24, 2008
LSB INDUSTRIES,
INC.
By: /s/ Tony M. Shelby
Name: Tony M.
Shelby
Title:
Executive Vice President of Finance,
Chief Financial
Officer