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):
May 26, 2021
Dover Motorsports,
Inc.
(Exact name of registrant as specified in its charter)
| Delaware |
001-11929 |
51-0357525 |
(State or other jurisdiction of
incorporation) |
Commission File Number |
(IRS Employer Identification No.) |
| 1131 N. DuPont Highway |
|
| Dover,
Delaware |
19901 |
| (Address
of principal executive offices) |
(Zip
Code) |
Registrant's telephone number, including area code
(302) 883-6500
N/A
(Former name or former address, if changed since
last report)
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 communications 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 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| Title of
Class |
|
Trading Symbol(s) |
|
Name of Exchange
on Which Registered |
| Common Stock, $.10 Par Value |
|
DVD |
|
New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. ¨
Item 7.01 Regulation FD Disclosure
The following information
is furnished pursuant to Item 7.01 Regulation FD Disclosure.
On May 26, 2021, we closed
on the sale of approximately 350 acres of property near our Nashville Superspeedway pursuant to an agreement with an entity owned by Panattoni
Development Company. Proceeds from the sale, less closing costs, were approximately$14.35 million. The purchaser had previously paid to
us a $500,000 deposit that was credited to the purchase price. Net proceeds after taxes are estimated to be approximately $12 million.
None of the acreage sold extends to the land on which our superspeedway is sited and the Company continues to hold approximately 650 acres
of commercial real estate, including the superspeedway.
Item 9.01 Financial Statements and Exhibits
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.
| |
Dover Motorsports, Inc. |
| |
|
| |
/s/ Denis McGlynn |
| |
Denis McGlynn |
| |
President and Chief Executive Officer |
Dated: May 27, 2021
