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): May 19, 2021
LITHIA MOTORS, INC.
(Exact name of registrant as specified in its charter)
| Oregon | 001-14733 | 93-0572810 | ||
(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) |
| 150 N. Bartlett Street, Medford, Oregon | 97501 | |
| (Address of principal executive offices) | (Zip Code) |
(541) 776-6401
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 filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
| Class A common stock without par value | LAD | The New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 8.01. | Other Items |
On May 19, 2021, Lithia Motors, Inc. (the “Company”) issued a press release announcing that it has priced its previously announced underwritten public offering of 3,105,590 shares of its Class A common stock (the “Common Stock Offering”) (3,571,428 shares if the underwriters in the Common Stock Offering exercise in full their option to purchase additional shares) at a price to the public of $322.00 per share. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
On May 19, 2021, the Company issued a press release announcing that it has priced its private offering (the “Notes Offering”) of $800 million in aggregate principal amount of its 3.875% senior notes due 2029, which represents an increase of $300 million from the offering size previously announced. A copy of the press release is attached hereto as Exhibit 99.2 and is incorporated herein by reference.
The information in this Current Report on Form 8-K, including the information contained in the exhibits attached hereto, is neither an offer to sell nor a solicitation of an offer to buy any securities.
| Item 9.01. | Financial Statements and Exhibits |
| (d) | Exhibits |
Exhibit No. | Description | |
| 99.1 | Press Release of Lithia Motors, Inc. dated May 19, 2021 (relating to the Common Stock Offering). | |
| 99.2 | Press Release of Lithia Motors, Inc. dated May 19, 2021 (relating to the Notes Offering). | |
| 104 | Cover Page Interactive File (the cover page tags are embedded within the Inline XBRL document). | |
SIGNATURE
Pursuant to the requirements of the Exchange Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: May 19, 2021
| LITHIA MOTORS, INC. | ||
| By: | /s/ Tina Miller | |
Tina Miller | ||
| Senior Vice President and Chief Financial Officer | ||