rpc8k60908.htm
 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
washington, d.c. 20549

 
FORM 8-K
 


CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):  June 9, 2008



RPC, INC.
(Exact name of registrant as specified in its charter)
_________________________

Delaware
1-8726
58-1550825
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)
(IRS Employer
Identification No.)

2801 Buford Highway, Suite 520, Atlanta, Georgia 30329
(Address of principal executive office) (zip code)

Registrant's telephone number, including area code: (404) 321-2140


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 (see General Instruction A.2. below):

o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 
 
 

Item 1.01  Entry Into Material Definitive Agreement.

On June 9, 2008, RPC, Inc. (the “Company”) entered into that certain Commitment Increase Amendment to Revolving Credit Agreement dated as of June 9, 2008, by and among the Company, the several banks and other financial institutions party thereto and SunTrust Bank, in its capacity as Administrative Agent (the “Amendment”).  As previously reported in the Company’s Current Report on Form 8-K dated September 8, 2006, the Company maintains a revolving credit facility which, prior to the Amendment, allowed for maximum borrowings of up to $250 million. The Amendment serves to increase the amount of maximum borrowings under the credit facility by $46.5 million to $296.5 million.  The Amendment is filed as Exhibit 99.1 hereto and is incorporated herein by reference.
 
Item 2.03.  Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant.

The information disclosed above under Item 1.01 is incorporated herein by reference.

Item 9.01  Financial Statements and Exhibits.

(a) Financial Statements

(b)  Pro Forma Financial Information

(c)  Exhibits

 
Exhibit Number
Description
     
 
99.1
Commitment Increase Amendment to Revolving Credit Agreement dated as of June 9, 2008, by and among the Company, the several banks and other financial institutions from time to time party thereto and SunTrust Bank, in its capacity as Administrative Agent.




 
 
 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, RPC, Inc. has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.



 
RPC, Inc.
   
   
   
Date: June 10, 2008
/s/ Ben M. Palmer
 
Ben M. Palmer
 
Vice President, Chief Financial Officer and Treasurer