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) June 24, 1997 CINEMASTAR LUXURY THEATERS, INC. (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) California 0-25252 33-0451054 - ---------------- ------------------------ ------------------- (State or other (Commission File Number) (IRS Employer jurisdiction of Identification No.) incorporation) 431 College Boulevard Oceanside, California 92057-5435 (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES, INCLUDING ZIP CODE) REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (619) 630-2011 ITEM 5. OTHER EVENTS On June 24, 1997, Registrant entered into a letter agreement ("Letter of Intent") with a group of investors headed by Rust Capital Ltd. (the "Rust Group") to purchase newly issued shares of Registrant's common stock for $15 million (the "Transaction"). After the Transaction is completed, the Rust Group would own at least 51 percent of Registrant's outstanding Common Stock and its equity interest could rise above 51 percent based on a provision tied to the Registrant's financial condition at the time of closing. No definitive agreement has been signed and the parties to the Transaction must obtain regulatory and shareholder approval before the transaction can be completed. Under the Letter of Intent, Registrant would receive up to a $2 million secured bridge loan at the time the definitive agreement is executed. Additionally, after the closing, the membership of the board of directors would be changed to reflect the Rust Group's majority interest. For further information see Exhibits 10 and 99 attached to this Form 8-K which are incorporated herein by this reference. 2 ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS (c) Exhibits. 10.1 Letter of Intent, dated June 24, 1997, by and between Rust Capital Ltd. and CinemaStar Luxury Theaters, Inc. 99.1 Press Release, dated June 26, 1997 3 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. Dated: June 30, 1997 CINEMASTAR LUXURY THEATERS, INC. By: \s\ JON MELOAN Jon Meloan Vice President, Secretary and General Counsel 4 EXHIBIT INDEX Exhibit Number Description - ------- ---------------------------------- 10.1 Letter of Intent, dated June 24, 1997, by and between Rust Capital, Ltd. and CinemaStar Luxury Theaters, Inc. 99.1 Press Release, dated June 26, 1997 5