UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT FOR ISSUERS SUBJECT TO THE
1934 REPORTING REQUIREMENTS
FORM 8-K
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 16, 2002
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BUCKEYE TECHNOLOGIES INC.
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(Exact name of registrant as specified in its charter)
Delaware 33-60032 62-1518973
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
1001 Tillman Street, Memphis, Tennessee 38112
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (901) 320-8100
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Not Applicable
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(Former name, former address and former fiscal year,
if changed since last report)
INFORMATION TO BE INCLUDED IN THE REPORT
Item 5. Other Events.
On May 16, 2002 Buckeye Technologies Inc. announces the sale of 2.1
million shares of common stock.
Item 7. Financial Statements and Exhibits.
(a) Financial Statements on Businesses Acquired.
None.
(b) Pro Forma Financial Information.
None.
(c) Exhibits.
The following exhibits are filed pursuant to Item 601 of Regulation S-K:
Exhibit
Number Description
99.0 Press Release of Buckeye Technologies Inc. dated May 16, 2002.
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 thereunto duly authorized.
BUCKEYE TECHNOLOGIES INC.
Date: May 16, 2002
By: /S/ GAYLE L. POWELSON
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Gayle L. Powelson
Senior Vice President, Chief Financial Officer
EXHIBIT 99.0
Company Press Release
News from
BUCKEYE
FOR IMMEDIATE RELEASE
Contacts: Dave Ferraro, President
901-320-8115
Gordon Mitchell,
Investor Relations Manager
901-320-8256
Website: www.bkitech.com
BUCKEYE TECHNOLOGIES ANNOUNCES SALE OF 2.1 MILLION SHARES OF COMMON STOCK
MEMPHIS, TN May 16, 2002 - Buckeye Technologies Inc. (NYSE:BKI) today announced
the sale of 2,150,000 shares of its common stock from its universal shelf
registration initially filed with the Securities and Exchange Commission (SEC)
on March 15, 2002 and declared effective by the SEC on April 18, 2002. The
closing is expected to occur on May 21.
These direct sales to several mutual funds, investment firms, and a director of
Buckeye Technologies are at a price of $10.00 per share. The closing price on
May 15 was $10.20 per share. The net proceeds will be approximately $21,414,000
and the proceeds will be used for general corporate purposes.
This press release shall not constitute an offer to sell or the solicitation of
an offer to buy nor shall there be any sale of these securities in any
jurisdiction in which such offer, solicitation, or sale would be unlawful prior
to the registration or qualification under the securities law of such
jurisdiction. This offering was made by means of a supplement to a prospectus
that is part of the Company's universal shelf registration previously filed with
the SEC.
Buckeye, a leading manufacturer and marketer of specialty cellulose and
absorbent products, is headquartered in Memphis, Tennessee, USA. The Company
currently has facilities in the United States, Germany, Canada, Ireland and
Brazil. Its products are sold worldwide to makers of consumer and industrial
goods.
Certain matters discussed in this press release may constitute forward-looking
statements within the meaning of the federal securities laws that involve risks
and uncertainties, including but not limited to economic, competitive,
governmental, and technological factors affecting the Company's operations,
markets, products, services and prices, and other factors. For further
information on factors, which could impact the Company and the statements
contained herein, please refer to public filings with the Securities and
Exchange Commission.