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IVC > SEC Filings for IVC > Form 8-K on 13-Aug-2013All Recent SEC Filings

Show all filings for INVACARE CORP

Form 8-K for INVACARE CORP


13-Aug-2013

Completion of Acquisition or Disposition of Assets, Financial Statements and Exhibi


Item 2.01. Completion of Acquisition or Disposition of Assets.
On August 7, 2013, Invacare Corporation, an Ohio corporation (the "Company"), completed the sale (the "Transaction") of all the issued and outstanding capital stock of its wholly-owned subsidiary, Champion Manufacturing Inc. ("Champion"), pursuant to a Share Purchase Agreement (the "Purchase Agreement") among the Company, Champion and Champion Equity Holdings, LLC (the "Purchaser"). Upon the closing of the Transaction, the price paid to the Company was $45,000,000 in cash, subject to certain post-closing adjustments required by the Purchase Agreement. The Company estimates net proceeds from the Transaction are approximately $43,000,000, net of taxes and expenses.

Neither the Company nor any of its affiliates have had a material relationship with the Purchaser, other than in respect of the Purchase Agreement. A copy of the Purchase Agreement is attached as Exhibit 2.1 to the Current Report on Form 8-K filed by the Company on August 8, 2013, as amended by the Current Report on Form 8-K/A filed by the Company on August 9, 2013, and a summary description of the Purchase Agreement is included in Item 1.01 thereof. The unaudited pro forma condensed combined financial information of the Company giving effect to the Transaction, together with the related notes thereto, is attached hereto as Exhibit 99.1.



Item 9.01 Financial Statements and Exhibits.
(b) Pro Forma Financial Information. Unaudited pro forma condensed combined financial information of the Company required by Article 11 of Regulation S-X is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
(d) Exhibits.
Exhibit Number Description of Exhibit

99.1 Unaudited pro forma condensed combined financial information.


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