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): February 25, 2002
Lithia Motors, Inc.
Oregon |
0-21789 |
93 - 0572810 |
360 E. Jackson Street, Medford, Oregon |
97501 |
Registrant's telephone number including area code 541-776-6868
(Former name or former address, if changed since last report) Not applicable
Item 7. Financial Statements and Exhibits |
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(a) |
Financial statements of business acquired. |
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(b) |
Pro forma financial information. |
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(c) |
Exhibits. |
Item 9. Regulation FD Disclosure.
On February 25, 2002, Lithia Motors, Inc. issued a press release announcing it commenced its public offering of 5.0 million shares of its Class A Common Stock at a price of $18.25 per share. All of the information in the press release, appearing in Exhibit 99, is not filed but is furnished pursuant to Regulation FD.
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.
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LITHIA MOTORS, INC. |
EXHIBIT 99
LITHIA MOTORS, INC.
NEWS RELEASE
Date: February 25, 2002
For Further Information Contact:
Jeff DeBoer, Chief Financial Officer
(541) 776-6868
LITHIA MOTORS, INC. COMMENCES PUBLIC OFFERING FOR 5.0 MILLION SHARES OF CLASS A COMMON STOCK
MEDFORD, OREGON - Lithia Motors, Inc. (NYSE: LAD) announced today that it commenced its public offering of 5.0 million shares of its Class A Common Stock at a price of $18.25 per share. The offering includes 4.0 million newly issued shares to be sold by Lithia Motors and 1.0 million shares to be sold by W. Douglas Moreland, a selling shareholder. Lithia Motors is an operator of 65 automotive franchise stores, offering 24 brands of new vehicles through 123 franchises in nine western states.
The net proceeds of the offering received by the Company will be used primarily to acquire additional automotive dealerships. Prior to such use, the Company will reduce borrowings under its credit lines.
This offering is being managed by Morgan Stanley & Co. Incorporated and Stephens Inc. Copies of the prospectus relating to the offering may be obtained from Morgan Stanley, at 1585 Broadway, New York, NY 10036. The offering is scheduled to close on March 1, 2002.