-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, N9XVm7CBdfsPdiQhCc9H4xlvCGKQv1DzsCFTe4aZW68PECu+jTGpiaduK0jqhuQL DQnft0sv6ErBRJYc506Wiw== 0000899140-03-000679.txt : 20030827 0000899140-03-000679.hdr.sgml : 20030827 20030827101550 ACCESSION NUMBER: 0000899140-03-000679 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030822 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030827 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MCSI INC CENTRAL INDEX KEY: 0001023519 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-PROFESSIONAL & COMMERCIAL EQUIPMENT & SUPPLIES [5040] IRS NUMBER: 311001529 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-21561 FILM NUMBER: 03867655 BUSINESS ADDRESS: STREET 1: 4750 HEMPSTEAD STATION DR CITY: DAYTON STATE: OH ZIP: 45429 BUSINESS PHONE: 9372918282 MAIL ADDRESS: STREET 1: 1750 HEMPSTEAD STATION DRIVE CITY: DAYTON STATE: OH ZIP: 45429 FORMER COMPANY: FORMER CONFORMED NAME: MIAMI COMPUTER SUPPLY CORP DATE OF NAME CHANGE: 19960924 8-K 1 m1254213a.txt CURRENT REPORT ON FORM 8-K 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 EARLIEST EVENT REPORTED: August 22, 2003 MCSi, INC. (Exact name of registrant as specified in its articles of incorporation) MARYLAND 000-21561 31-1001529 (State or other jurisdiction (Commission (I.R.S. employer of incorporation) file number) identification no.) 2975 Northwoods Parkway, Norcross, Georgia 30071 (Address or principal executive offices) (800) 554-5440 (Registrant's telephone number, including area code) ITEM 5. OTHER EVENTS On August 22, 2003, MCSi, Inc. (the "Company") announced that it has filed a plan of reorganization under Chapter 11 of the Bankruptcy Code. A copy of the press release of the Company announcing the filing of the Company's plan of reorganization under Chapter 11 of the Bankruptcy Code is attached hereto as Exhibit 99.1 and incorporated herein by reference. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS (a) Financial statements. Not applicable. (b) Pro forma financial information. Not applicable. (c) Exhibits. 99.1 Press Release dated August 22, 2003. 2 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. Dated: August 27, 2003 MCSi, INC. By: /s/ D. Gordon Strickland ------------------------------ D. Gordon Strickland President and Chief Executive Officer 3 Exhibit Index ------------- Exhibit No. Description - ----------- ----------- 99.1 Press Release dated August 22, 2003. 4 EX-99.1 3 m1254213b.txt PRESS RELEASE EXHIBIT 99.1 FOR IMMEDIATE RELEASE For more information, contact: Larry R. Knipple Chief Administrative Officer 770.441.5106 larry.knipple@mcsinet.com MCSi FILES PLAN OF REORGANIZATION Plan Supported by Bank Group -- Emergence is Expected During Fourth Quarter 2003 ATLANTA, GA - August 22, 2003 - MCSi, Inc. announced today that it has filed a plan of reorganization under Chapter 11 of the Bankruptcy Code. The plan was filed with the support of the Company's secured bank group, which holds more than $106 million of the Company's estimated $169 million of total liabilities. The Company expects to file a disclosure statement relating to the plan in August 2003 and emerge from bankruptcy during the fourth quarter of 2003. Under the proposed plan, the Company's bank group will receive certain debt securities of the Company, as well as 100% of the equity interests of the Company (other than equity interests to be granted to management as part of a new management incentive plan), and provide exit financing. The Company's unsecured creditors, including the banks to the extent of their deficiency claims, will be entitled to any recoveries the Company may receive from certain claims. Trade creditors who agree to extend additional trade credit to the Company post emergence will be entitled to a portion of a cash fund, the amount of which has not yet been determined. The Company's equity holders are not expected to receive any distribution under the plan. D. Gordon Strickland, MCSi's President and Chief Executive Officer, stated: "This filing of a plan of reorganization, along with our recent relocation of our corporate headquarters to Atlanta, completion of our new corporate management team and continued execution of our business plan initiatives, represent important milestones in our efforts to restructure the Company. We appreciate the support of our bank group for the plan and our restructuring efforts and look forward to emerging from bankruptcy as a stronger, more competitive company." The plan remains subject to confirmation by the bankruptcy court as well as completion of definitive documentation and fulfillment of the conditions to confirmation and the effective date. Accordingly, there can be no assurance that the Company will be able to consummate the reorganization contemplated under the plan. Bankruptcy law does not permit solicitation of acceptances of the plan of reorganization until the bankruptcy court approves the disclosure statement. Accordingly, this press release is not intended to be, nor should it be construed as, a solicitation of a vote on the plan. About MCSi MCSi is a leading provider of state-of-the-art presentation, broadcast and supporting network technologies for businesses, churches, government agencies and educational institutions. From offices located throughout the United States, MCSi draws on its strategic partnerships with top manufacturers to deliver a comprehensive array of audio, display and professional video innovations. MCSi also offers proprietary systems pre-engineered to meet the need for turnkey integrated solutions. As a full service provider of enterprise wide technology solutions, MCSi complements its product offerings with a design/build approach that includes consultation, design engineering, product procurement, systems integration, end-user training and post sales support. MCSi's value-added service approach, made seamless by the ongoing exchange between customers and representatives from its strategic support teams, ensures that customers receive dedicated attention and long-term commitment to support their investment. Additional information regarding MCSi can be obtained by calling 800.516.0600 or by visiting www.mcsinet.com (but is not part of release). The matters discussed in this press release which are not historical facts contain forward-looking information with respect to plans, projections or future performance of MCSi, including with respect to the plan of reorganization, the occurrence of which involve risks and uncertainties. These risks and uncertainties include, but are not limited to, failure to agree on definitive documentation regarding the restructuring plan and the terms and conditions thereof, failure to obtain necessary bankruptcy court approvals, non-acceptance of the plan by other stakeholders in the Company, delays in the confirmation or effective date of the plan, the Company's success in implementing its restructuring steps, loss of customer or vendor support during the restructuring process, competition, and economic and other factors set forth in MCSi's Form 10-K for the year ended December 31, 2001 and 10-Q for the quarter ended September 30, 2002. -END- 2 -----END PRIVACY-ENHANCED MESSAGE-----