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): October 31, 2007
REX STORES CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 001-09097 31-1095548
(State or other jurisdiction (Commission File No.) (IRS Employer
of incorporation Identification No.)
2875 Needmore Road, Dayton, Ohio 45414
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (937) 276-3931
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):
[ ] 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))
Item 8.01 Other Events.
On October 31, 2007, REX Stores Corporation issued a press release announcing it
has funded $50.8 million in One Earth Energy, LLC. The press release is
furnished as Exhibit 99 to this report.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. The following exhibits are furnished with this report.
99 Press Release dated October 31, 2007
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.
REX STORES CORPORATION
Date: October 31, 2007 By: /s/ DOUGLAS L. BRUGGEMAN
----------------------------
Name: Douglas L. Bruggeman
Title: Vice President-Finance,
Chief Financial Officer and
Treasurer
Exhibit 99
[REX LOGO]
NEWS ANNOUNCEMENT FOR IMMEDIATE RELEASE
For further information contact:
Douglas Bruggeman Joseph N. Jaffoni
Chief Financial Officer Jaffoni & Collins Incorporated
937/276-3931 212/835-8500 or rsc@jcir.com
REX STORES PROVIDES $50.8 MILLION FOR 74% INTEREST
IN ILLINOIS ETHANOL PRODUCTION FACILITY
Dayton, Ohio (October 31, 2007) -- REX Stores Corporation (NYSE:RSC) announced
today that it has provided funding of $50.8 million in One Earth Energy, LLC
("One Earth") as One Earth has met all conditions precedent, including obtaining
financing for REX to proceed with its investment. First National Bank of Omaha,
N.A., will provide senior debt financing to One Earth.
On June 18, REX reported that it had entered into a contingent agreement to
invest between $35.1 million and $62.4 million in One Earth. REX's $50.8 million
funding provides REX with an approximate 74% equity ownership interest in One
Earth.
One Earth has signed a design/build agreement with Fagen, Inc., an engineering
firm focused on ethanol, and has commenced construction of the Gibson City,
Illinois facility. The plant has a design capacity of 100 million gallons of
ethanol annually.
This news announcement contains or may contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995. Such
statements can be identified by use of forward-looking terminology such as
"may," "expect," "believe," "estimate," "anticipate" or "continue" or the
negative thereof or other variations thereon or comparable terminology. Readers
are cautioned that there are risks and uncertainties that could cause actual
events or results to differ materially from those referred to in such
forward-looking statements. These risks and uncertainties include the risk
factors set forth from time to time in the Company's filings with the Securities
and Exchange Commission and among other things: the highly competitive nature of
the consumer electronics retailing industry, changes in the national or regional
economies, weather, the effects of terrorism or acts of war on consumer spending
patterns, the availability of certain products, technological changes, new
regulatory restrictions or tax law changes relating to the Company's synthetic
fuel investments, the fluctuating amount of quarterly payments received by the
Company with respect to sales of its partnership interest in a synthetic fuel
investment, the potential for Section 29/45K tax credits to phase out based on
the price of crude oil adjusted for inflation, and the uncertain amount of
synthetic fuel production and resulting income received from time to time from
the Company's synthetic fuel investments. As it relates to ethanol investments,
risks and uncertainties include among other things: the uncertainty of
constructing plants on time and on budget and the volatility of corn, dried
distiller grains, ethanol, gasoline and natural gas prices.
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