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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
May 24, 2001
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Date of report (Date of earliest event reported)
ASSISTED LIVING CONCEPTS, INC.
(exact name of registrant as specified in its charter)
NEVADA 1-13498 93-1148702
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(State or other jurisdiction of Commission File Number (I.R.S. Employer
incorporation or organization) Identification Number)
11835 NE Glenn Widing Drive, Bldg E, Portland, OR 97220-9057
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(Address of Principal Executive Offices) (Zip Code)
(503) 252-6233
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(Registrant's telephone number, including area code)
Not Applicable
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(Former name or former address, if changed since last report.)
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ITEM 5. OTHER EVENTS.
On May 24, 2001, Assisted Living Concepts, Inc. (the "Company")
announced it had paid $4.7 million of interest due May 1, 2001 on its two series
of convertible subordinated debentures (collectively, the "Debentures") and
entered into a confidentiality agreement and agreement to restrict trading of
securities (the "Confidentiality Agreement") with an unofficial committee of the
holders of 64% of the outstanding principal amount of the Debentures. The
Company entered into the Confidentiality Agreement to facilitate negotiations
with the Debenture holders concerning a restructuring of the Debentures. The
Company said that if it reaches an agreement with Debenture holders, it is
anticipated that the restructuring would be implemented through a
"prenegotiated" plan of reorganization under Chapter 11 of the U.S. Bankruptcy
Code.
A copy of the Company's press release dated May 24, 2001 has been filed
as an exhibit to this Current Report on Form 8-K and is incorporated herein by
reference.
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ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(a) and (b) None.
(c) The following document is furnished as an Exhibit to this Current
Report on Form 8-K pursuant to Item 601 of Regulation S-K:
99 Press Release, dated May 24, 2001.
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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.
ASSISTED LIVING CONCEPTS, INC.
By: /s/ Sandra Campbell
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Name: Sandra Campbell
Title: Secretary
Date: May 25, 2001
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EXHIBIT INDEX
EXHIBIT NO. DOCUMENT DESCRIPTION
99 Press Release, dated May 24, 2001.