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):
July 18, 2007
UNIVERSAL
TECHNICAL INSTITUTE, INC.
(Exact
name of registrant as specified in its charter)
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Delaware
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1-31923
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86-0226984
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(State
or other jurisdiction
of
incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification
No.)
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20410
North 19th Avenue, Suite 200, Phoenix, Arizona
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85027
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code: |
(623)
445-9500 |
None
(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:
o |
Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
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o |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
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o |
Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
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o |
Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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On
July
18, 2007, Universal Technical Institute, Inc., a Delaware corporation (the
“Company”), completed the sale and leaseback of its campus located in
Sacramento, California, to a subsidiary of W. P. Carey & Co. The total
purchase price was approximately $41 million. Under the terms of the
transaction, the Company assigned its interest in its long-term ground lease
on
which the Sacramento campus is located and sold its newly-constructed campus
facilities to the purchaser. Concurrent with the transaction, the Company
entered into a long-term lease with the purchaser to lease back the Sacramento
campus facilities for an initial term of 15 years. The Company has the option
to
extend the lease for up to an additional 20 years. The transaction will not
impact the Company’s operations or course offerings at the Sacramento campus.
The inflow of cash will enhance the Company’s cash position and improve
liquidity.
Item
9.01. Financial Statements and Exhibits
(d)
Exhibits
The
following exhibits are furnished with this document:
Exhibit
Number
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Description
of Exhibit
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99.1
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Press
Release of Universal Technical Institute, Inc., dated July 24,
2007.
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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.
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UNIVERSAL
TECHNICAL INSTITUTE, INC.
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Dated: July
24, 2007 |
By: |
/s/ Chad
A.
Freed |
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Name: Chad
A. Freed
Title: Senior
Vice President and General Counsel
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Exhibit
Index
Exhibit
Number
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Description
of Exhibit
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99.1
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Press
Release of Universal Technical Institute, Inc., dated July 24,
2007.
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