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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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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): January 26, 1998
Medaphis Corporation
(Exact name of registrant as specified in its charter)
DELAWARE 000-19480 58-1651222
(State or other jurisdiction of incorporation) Commission File Number (IRS Employer Identification Number)
2700 CUMBERLAND PARKWAY
SUITE 300
ATLANTA, GEORGIA 30339
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (770) 444-5300
NOT APPLICABLE
(Former Name or Former Address, if Changed Since Last Report)
Exhibit Index Located on Page: 4
Total Number of Pages: 25
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Item 5. Other Events.
On January 23, 1998, the Registrant obtained a fully underwirtten
committment from an affiliate of Donaldson, Lufkin & Jenrette for a $100 million
revolving loan facility (the "Facility"). Under the terms of the committment
letter, the Facility will be a three-year revolving credit facility, guaranteed
by Medaphis' domestic subsidiaries and secured by a first priority security
interest on substantially all of the material assets of the Registrant and its
subsidiaries. Advances under the Facility will be based on a borrowing base
formula in respect of the Registrant's billed and unbilled receivables and the
Facility will contain customary financial and other covenants. The Facility is
conditioned upon customary conditions and completion an offering of $150 million
in senior notes maturing in 2005. The proceeds of the notes and the initial
borrowing under the Facility will be used to refinance Medaphis' existing $210
million loan facility maturing in 1999, and for general corporate purposes. A
copy of the term sheet with respect to the Facility is filed as exhibit 10.1 to
this Current Report on Form 8-K
On January 26, 1998, the Registrant issued a press release, a copy of
which is filed as Exhibit 99.1 to this Form 8-K, relating to the Facility.
In addition, on January 27, 1998, the Registant issued a press release,
a copy of which is filed as Exhibit 99.2 to this Form 8-K, relating to certain
changes and additions to management of the Registrant.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
10.1 Term Sheet, dated January 23, 1998, with respect to
$100 million revolving credit facility
99.1 Press Release issued by the Registrant on January 26,
1998
99.2 Press Release issued by the Registrant on January 27,
1998
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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 thereunto duly authorized.
Date: January 27, 1998
MEDAPHIS CORPORATION
By: /s/ Mark Colonnese
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Mark Colonnese
Senior Vice President
and Controller
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INDEX TO EXHIBITS
EXHIBIT PAGE
NUMBER DESCRIPTION NUMBER
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10.1 Term Sheet, dated January 23, 1998, with respect to $100 million 5
revolving credit facility
99.1 Press Release issued by the Registrant on January 26, 1998 21
99.2 Press Release issued by the Registrant on January 27, 1998 23
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