Item 8.01. Other Events

On May 15, 2009, LSB Industries, Inc. (the "Company") purchased a total of $2.5 million aggregate principal amount of its 5.5% Convertible Senior Subordinated Debentures due 2012 (the "Debentures") for $2.075 million, plus accrued interest. The purchase price was funded from the Company's working capital. This purchase was unsolicited by the Company and was privately negotiated.

The Debentures are convertible by the holders, in whole or in part, into shares of the Company's common stock prior to their maturity at a conversion rate of 36.4 shares of our common stock per $1,000 principal amount of debentures (representing a conversion price of $27.47 per share of common stock), subject to adjustment under certain conditions. The closing price of the Company's common stock on May 14, 2009 was $13.69 per share. As of the date of this report, $32.3 million aggregate principal amount of the Debentures remain outstanding.

This report is not an offer or a solicitation of an offer to sell or exchange any security.