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EX-99.1 - EX-99.1 - U S PHYSICAL THERAPY INC /NVh83487exv99w1.htm
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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): July 20, 2011 (July 14, 2011)
U.S. PHYSICAL THERAPY, INC.
(Exact name of registrant as specified in its charter)
         
Nevada   1-11151   76-0364866
         
(State or other jurisdiction of
incorporation or organization)
  (Commission File
Number)
  (I.R.S. Employer
Identification No.)
     
1300 West Sam Houston Parkway South, Suite 300, Houston, Texas   77042
     
(Address of Principal Executive Offices)   (Zip Code)
Registrant’s telephone number, including area code: (713) 297-7000
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):
o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o   Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))
 
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))
 
 

 


TABLE OF CONTENTS

Item 1.01 Entry into a Material Definitive Agreement
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
Item 9.01 Financial Statements and Exhibits
SIGNATURE
INDEX TO EXHIBITS
EX-99.1


Table of Contents

Item 1.01 Entry into a Material Definitive Agreement.
     Effective July 14, 2011, U. S. Physical Therapy, Inc. (the “Company”) entered into a Fourth Amendment to Credit Agreement (the “Credit Agreement Amendment”) with Bank of America. The Credit Agreement Amendment increases the commitment amount of its revolving credit agreement to $75,000,000 from $50,000,000. The Credit Agreement Amendment includes a closing fee of $75,000 paid at closing.
     The Credit Agreement matures on August 31, 2015, is unsecured and includes standard financial covenants which include a consolidated fixed charge coverage ratio and a consolidated leverage ratio, as defined in the Credit Agreement. Proceeds from the Credit Agreement may be used for working capital, acquisitions, and for other corporate purposes.
     As of July 14, 2011, the outstanding balance advanced under the loan facility was $18,600,000.
Item 2.03   Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
     See Item 1.01 above.
Item 9.01 Financial Statements and Exhibits.
     
Exhibits   Description of Exhibits
 
   
99.1
  Press Release dated July 14, 2011.*
 
*   Furnished herewith.

 


Table of Contents

SIGNATURE
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.
         
  U.S. PHYSICAL THERAPY, INC.
 
 
Dated: July 20, 2011  By:   /s/ LAWRANCE W. MCAFEE    
    Lawrance W. McAfee   
    Chief Financial Officer
(duly authorized officer and principal financial and accounting officer) 
 
 

 


Table of Contents

INDEX TO EXHIBITS
     
EXHIBIT   DESCRIPTION OF EXHIBIT
 
   
99.1
  Press Release dated July 14, 2011.*
 
*   Furnished herewith