Attached files
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EX-99.1 - EX-99.1 - Diversicare Healthcare Services, Inc. | g24073exv99w1.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
July 19, 2010 (July 14, 2010)
July 19, 2010 (July 14, 2010)
ADVOCAT INC.
(Exact name of registrant as specified in its charter)
Delaware | 001-12996 | 62-1559667 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(Employer Identification Number) |
1621 Galleria Boulevard Brentwood, TN 37027-2926
(Address of principal executive offices)
(Address of principal executive offices)
(615) 771-7575
(Registrants telephone number, including area code)
(Registrants telephone number, including area code)
Not applicable
(Former name or former address, if changed since last report)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions (see General Instruction
A.2 below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item 1.01. Entry into a Material Definitive Agreement.
On July 14, 2010, the Company entered into a lease agreement with A.B.E. LLC (Lessor), pursuant
to which the Lessor will construct, furnish, and equip a fully licensed 90 bed skilled nursing
facility in West Virginia and the Company will then lease the facility. The lease is for a term of
20 years from the date the facility is completed and fit for occupancy as a skilled nursing
facility. The Company has the right to renew the lease for two additional five-year successive
periods. The lease is conditioned upon (i) the Company obtaining the approval of the West Virginia
Health Care Authority, and any extension of the Certificate of Need previously approved for the
facility, necessary for the development, construction and lease of the facility contemplated by the
lease and (ii) the Lessor obtaining a commitment for a loan to finance the cost of construction of
the facility. The Company has the right to purchase the facility beginning on the twelfth month of
the initial term of the lease and ending after the sixtieth month of the Lease for a purchase price
ranging from 110% to 120% of the total project cost. A press release regarding this lease agreement
is attached as an exhibit hereto.
Item 9.01. Financial Statements and Exhibits.
(c) Exhibits
Number | Exhibit | |
99.1
|
Press release dated July 19, 2010 |
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.
ADVOCAT INC. |
||||
By: | /s/ L. Glynn Riddle, Jr. | |||
L. Glynn Riddle, Jr. | ||||
Chief Financial Officer | ||||
Date: July 19, 2010
EXHIBIT INDEX
Number | Exhibit | |
99.1
|
Press release dated July 19, 2010 |