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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 7, 2001
TALON AUTOMOTIVE GROUP, INC.
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(Exact Name of Registrant as Specified in Charter)
Michigan 333-56461 38-3382174
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
900 Wilshire Drive, Suite 203, Troy, MI 48084
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (248) 362-7600
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Item 5. Other Events.
The previously announced negotiations between Talon Automotive Group,
Inc. and its subsidiaries, VS Holdings, Inc. and Veltri Metal Products Company
(collectively, the "Company") and holders of the Company's 9.625% Senior
Subordinated Notes Due 2008 (the "Notes") ended successfully on June 7, 2001
with the signing of a Lockup Agreement dated as of May 30, 2001 (the "Lockup
Agreement") among the Company, its subsidiaries and the holders of approximately
71.6% (excluding certain "insider holders") of the Notes (the "Consenting
Holders"). As expected, the Lockup Agreement facilitates an exchange of
outstanding Notes for stock in the Company, significantly reducing the
outstanding indebtedness and interest obligations of the Company. The Company
intends to effect the exchange through a prenegotiated plan of reorganization
involving Chapter 11 bankruptcy reorganization proceedings in the United States
and creditors arrangement proceedings in Canada. The Company does not anticipate
any impairment of creditors (other than the holders of the Notes and the parties
to certain unexpired leases) and does not anticipate any material change in its
operations. The Consenting Holders have agreed to support the plan of
reorganization subject to satisfaction of the terms and conditions of the Lockup
Agreement, which is attached to this report as Exhibit 99.1 and is incorporated
herein by this reference.
Item 7. Financial Statements and Exhibits. The following documents are filed
herewith as part of this report:
(a) Financial statements of businesses acquired:
Not applicable.
(b) Pro forma financial information:
Not applicable.
(c) Exhibits:
Exhibit 99.1. Lockup Agreement dated as of May 30, 2001 among Talon Automotive
Group, Inc., VS Holdings, Inc., Veltri Metal Products Company and
the holders of certain 9.625% Senior Subordinated Notes Due 2008
(signatures omitted).
SIGNATURE
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.
TALON AUTOMOTIVE GROUP, INC.
Date: June 14, 2001 By: /s/ David J. Woodward
David J. Woodward
Vice President of Finance, Chief
Financial Officer and Treasurer
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INDEX TO EXHIBITS
EXHIBIT
NUMBER DESCRIPTION
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99.1. Lockup Agreement dated as of May 30, 2001 among Talon Automotive Group,
Inc., VS Holdings, Inc., Veltri Metal Products Company and the holders
of certain 9.625% Senior Subordinated Notes Due 2008 (signatures
omitted).