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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549-1004
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): September 24, 2001
(September 14, 2001)
ARKANSAS BEST CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 0-19969 71-0673405
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation or
organization)
3801 Old Greenwood Road
Fort Smith, Arkansas 72903
(501) 785-6000
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(Address, including zip code, and telephone number, including area code, of
the registrant's principal executive offices)
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ITEM 5. OTHER EVENTS.
ARKANSAS BEST CORPORATION ANNOUNCES RESULTS OF CALL FOR REDEMPTION OF
$2.875 SERIES A CUMULATIVE CONVERTIBLE EXCHANGEABLE PREFERRED STOCK
(Fort Smith, Arkansas, September 14, 2001) - Arkansas Best Corporation
announced today the results of its call for redemption of all outstanding shares
of its $2.875 Series A Cumulative Convertible Exchangeable Preferred Stock.
Based on preliminary totals at the end of the extension period today, 1,382,650
shares of the preferred stock were converted into 3,511,439 shares of common
stock and 7,350 shares of preferred stock were redeemed at the redemption price
of $50.575 per share, plus accrued and unpaid dividends to, but not including,
the redemption date. Conversion of the preferred stock into common stock will
not be dilutive to Arkansas Best's earnings because share conversion was
required to be considered in previous earnings per share calculations.
As of September 12, 2001, Arkansas Best Corporation has delisted its
preferred stock, which traded under the symbol "ABFSP", from The Nasdaq National
Market.
Arkansas Best Corporation's common stock will continue to trade on The
Nasdaq National Market under the symbol "ABFS."
The following is a "safe harbor" statement under the Private Securities
Litigation Reform Act of 1995: Statements contained in this press release that
are not based on historical facts are "forward-looking statements." Terms such
as "estimate," "expect," "predict," "plan," "anticipate," "believe," "intend,"
"should," "would," "scheduled," and similar expressions and the negatives of
such terms are intended to identify forward-looking statements. Such statements
are by their nature subject to uncertainties and risk, including but not limited
to union relations; availability and cost of capital; shifts in market demand;
weather conditions; the performance and needs of industries served by Arkansas
Best's subsidiaries; actual future costs of operating expenses such as fuel and
related taxes; self-insurance claims and employee wages and benefits; actual
costs of continuing investments in technology, the timing and amount of capital
expenditures; competitive initiatives and pricing pressures; general economic
conditions; and other financial, operational and legal risks and uncertainties
detailed from time to time in the Company's SEC public filings.
FOR FURTHER INFORMATION CONTACT:
Mr. David Loeffler - Vice President, Chief Financial Officer and
Treasurer
Telephone: (501) 785-6157
Mr. David Humphrey - Director of Investor Relations
Telephone: (501) 785-6200
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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.
ARKANSAS BEST CORPORATION
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(Registrant)
Date: September 24, 2001 /s/ David E. Loeffler
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David E. Loeffler,
Vice President - Chief Financial Officer
and Treasurer