- Current report filing (8-K)
22 Juni 2010 - 6:46PM
Edgar (US Regulatory)
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):
June 18
, 2010
California Coastal Communities, Inc.
(Exact name of registrant as
specified in its charter)
Delaware
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0-17189
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02-0426634
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(State or other
jurisdiction
of incorporation)
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(Commission
File Number)
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(I.R.S. Employer
Identification No.)
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6
Executive Circle, Suite 250, Irvine, California
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92614
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(Address of principal
executive offices)
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(Zip Code)
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Registrants telephone
number, including area code
(949) 250-7700
Not
Applicable
(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)
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 7.01
Regulation FD Disclosure.
On June 21, 2010 the Registrant
issued a press release announcing that, on June 18, it received the
approval of the United States Bankruptcy Court for the Central District of
California for the previously announced financing commitment from an investor
in the amount of $184 million to refinance the registrants Brightwater
development project debt and pay related costs.
The commitment is subject to a $6.44 million breakup fee, which
represents 3.5% of the committed financing, in the event the Registrant decides
to secure bankruptcy-exit financing from a different lender or seeks court
approval of a Chapter 11 plan other than the one the investor has currently
committed to finance. The commitment is also conditioned upon the negotiation
of definitive documentation and, if successfully documented, the refinanced
Brightwater debt will facilitate the Registrants exit from its current Chapter
11 bankruptcy proceedings.
A copy of the press release is attached
to this Current Report on Form 8-K as Exhibit 99.1 and is
incorporated herein by reference.
Item
9.01. Financial
Statements and Exhibits.
(d) Exhibits.
Exhibit No.
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Exhibit Description
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99.1
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Press Release
dated June 21, 2010
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Signature
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.
Date: June 22, 2010
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California
Coastal Communities, Inc.
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By:
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/s/ RAYMOND J. PACINI
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Raymond J. Pacini
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Chief Executive Officer
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