8-K 1 body_8k.htm body_8k.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):  September 22, 2008
 
Hythiam, Inc.
(Exact name of registrant as specified in its charter)
 
Delaware
  
001-31932
  
88-0464853
(State or other jurisdiction
of incorporation)
  
(Commission File Number)
  
(IRS Employer
Identification No.)
 
11150 Santa Monica Boulevard, Suite 1500
Los Angeles, California
  
90025
(Address of principal executive offices)
  
(Zip Code)
     
Registrant’s telephone number, including area code   (310) 444-4300
 
(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 (see General Instructions 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 2.03  Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

On September 22, 2008, as previously planned and as discussed in our second quarter conference call, we drew down the available $5.4 million under the demand margin loan facility we obtained from UBS Financial Services, Inc. in May 2008.  The margin account is secured by our $11.5 million in auction rate securities, and will bear interest at the 30-day LIBOR rate plus 100 basis points.


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.
 
  HYTHIAM, INC.  
       
Date:  September 26, 2008
By:
/s/ CHUCK TIMPE  
    Chuck Timpe  
    Chief Financial Officer