UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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): October 1, 2004
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LEXINGTON PRECISION CORPORATION
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(Exact Name of Registrant as Specified in Its Charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
0-3252 22-1830121
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(Commission File Number) (IRS Employer Identification No.)
40 EAST 52ND STREET, NEW YORK, NY 10022
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(Address of Principal Executive Offices) (Zip Code)
(212) 319-4657
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(Registrant's Telephone Number, Including Area Code)
N/A
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(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))
SECTION 8 - OTHER EVENTS
ITEM 8.01 OTHER EVENTS.
On September 3, 2004, Lexington Precision Corporation (the
"Company") entered into a loan agreement with Cohanzick High Yield
Partners, L.P. (the "Cohanzick Loan"), the proceeds of which were to be
used by the Company, among other things, to purchase its outstanding
12% Senior Subordinated Notes (the "Notes"). The Company drew down the
Cohanzick Loan, in the amount of $7,000,000, on September 7, 2004. The
details of the Cohanzick Loan were reported in the Company's current
report on Form 8-K filed with the Securities and Exchange Commission on
September 10, 2004.
On October 1, 2004, the Company used $2,892,000 of the
proceeds of the Cohanzick Loan to repurchase a total of $8,264,000
principal amount of its Notes plus interest accrued thereon at an
aggregate cost of $2,892,000. After the write-off of deferred financing
expenses of $192,000, the Company realized a net pre-tax gain on the
repurchase of $5,345,000. The purchased Notes will be cancelled and
retired.
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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.
LEXINGTON PRECISION CORPORATION
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(Registrant)
Date October 4, 2004
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By: /s/ Dennis J. Welhouse
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(Signature)
Name: Dennis J. Welhouse
Title: Senior Vice President and Chief
Financial Officer
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