SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 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): July 9, 1999
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ICON Fitness Corporation
IHF Holdings, Inc.
ICON Health & Fitness, Inc.
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(Exact Name of Registrant as Specified in its Charter)
333-18475 87-0566936
33-87930-01 87-0531209
Delaware 33-87930 87-0531206
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(State or Other Jurisdiction (Commission File (IRS Employer
of Incorporation) Number) Identification No.)
1500 South 1000 West
Logan, Utah 84321
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(Address of Principal Executive Offices)(Zip Code)
Registrant's telephone number, including area code 435-750-5000
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Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
Item 5. Other Events
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On July 20, 1999, ICON Health & Fitness, Inc. ("ICON") announced that it
has received an agreement from holders of approximately 98% of its outstanding
13% Senior Subordinated Notes to forbear until October 15, 1999 from
exercising their rights and remedies under the indenture with respect to the
interest payment that was due on July 15, 1999. This forbearance agreement was
executed by all holders of the 13% Notes that ICON was able to identify.
In an earlier press release issued July 9, 1999, ICON announced that it had
made significant progress in its previously announced plan to deleverage its
balance sheet. ICON obtained a commitment for a $40 million equity investment
from Bain Capital, Credit Suisse First Boston and members of existing management
in return for an 87% equity interest in the deleveraged company.
The press releases are attached hereto as Exhibit 99.
Item 7. Financial Statements and Exhibits
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(a) Financial Statements of busines acquired
None
(b) Pro Forma financial information
None
(c) Exhibits
99.1 Press Release dated July 20, 1999, relating to agreement reached
with holders of approximately 98% of 13% Senior Subordinated Notes due 2002
99.2 Press Release dated July 9, 1999, announcing progress in its
previously announced plan to deleverage its balance sheet
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
ICON Fitness Corporation
IHF Holdings, Inc.
ICON Health & Fitness, Inc.
Date: July 22, 1999 By: /s/ S. Fred Beck
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Name: S. Fred Beck
Title: Chief Financial Officer