UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
CURRENT
REPORT
FORM
8-K
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act
Date
of
Report (Date of Earliest Event Reported): April 30, 2007
Cal-Maine
Foods, Inc.
(Exact
name of registrant as specified in its charter)
|
Delaware
|
000-04892
|
64-0500378
|
|
(State
or other jurisdiction
|
(Commission
File Number)
|
IRS
Employer
|
|
of
incorporation)
|
Identification
No.)
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3320
Woodrow Wilson Avenue
Jackson,
MS 39207
(Address
of principal executive offices (zip code))
601-948-6813
(Registrant’s
telephone number, including area code)
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:
□
Written
communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
□
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a - 12)
□
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act
(17 CFR 240.14d-2(b))
□
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act
(17 CFR 240.13d-4(c))
Item
8.01. Other
Events
Cal-Maine
Foods, Inc. (the “Company”) entered into a Loan Agreement, dated as of April 30,
2007, with Metropolitan Life Insurance Company (“Lender”) (the “Loan
Agreement”), pursuant to which the Company has issued a Secured Promissory Note
due April 1, 2017, to the Lender in the principal amount of $20 million (the
“Note”). Of the Note proceeds, approximately $8.6 million has been used to pay
the balance of an existing loan with the Lender, and approximately $10.5 million
will be used to purchase leased assets used by the Company’s recently acquired
subsidiary, Green Forest Foods, Inc. (“Green Forest”). Green Forest is engaged
in the production, processing and marketing of shell eggs, and pullet growing
for replacements of its laying hens. The Green Forest acquisition was reported
in the Company’s Form 10-Q report for the fiscal quarter ended March 3,
2007.
The
Loan
Agreement is secured by certain properties of the Company that previously
secured the loan balance paid with part of the proceeds of the Loan Agreement.
The Note bears interest at the rate of 6% per annum and contains various terms
and conditions customarily found in such agreements.
The
Company hereby agrees to furnish a copy of the Loan Agreement to the Commission
upon request. The total amount of the indebtedness under the Loan Agreement
represents significantly less than 10% of the Company’s total consolidated
assets.
SIGNATURES
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CAL-MAINE
FOODS, INC. |
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| Date: May
2, 2007 |
By: |
/s/ Fred
R. Adams, Jr. |
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Fred
R. Adams, Jr. |
| |
Chairman
of the Board and Chief Executive Officer |