<SEC-DOCUMENT>0001206774-11-000587.txt : 20110322
<SEC-HEADER>0001206774-11-000587.hdr.sgml : 20110322
<ACCEPTANCE-DATETIME>20110322142950
ACCESSION NUMBER:		0001206774-11-000587
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20110322
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20110322
DATE AS OF CHANGE:		20110322

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PHOTRONICS INC
		CENTRAL INDEX KEY:			0000810136
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				060854886
		STATE OF INCORPORATION:			CT
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-15451
		FILM NUMBER:		11703671

	BUSINESS ADDRESS:	
		STREET 1:		15 SECOR ROAD
		STREET 2:		PO BOX 5226
		CITY:			BROOKFIELD
		STATE:			CT
		ZIP:			06804
		BUSINESS PHONE:		2037759000

	MAIL ADDRESS:	
		STREET 1:		15 SECOR ROAD
		STREET 2:		P O BOX 5226
		CITY:			BROOKFIELD
		STATE:			CT
		ZIP:			06804

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PHOTRONIC LABS INC
		DATE OF NAME CHANGE:	19900514
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
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<FILENAME>photronics_8k.htm
<DESCRIPTION>CURRENT REPORT
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<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold">UNITED STATES <br>
</font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: Times New Roman">SECURITIES AND EXCHANGE COMMISSION <br>
Washington, D.C. 20549</font></font><font style="FONT-FAMILY: times new roman"> </font></div>

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<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="5" style="FONT-FAMILY: Times New Roman">FORM 8-K </font></font></div>

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<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: Times New Roman">CURRENT REPORT <br>
</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Pursuant To Section 13 Or 15(d) Of The Securities Exchange Act Of 1934 </font></font></div>

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<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">Date of report (Date of earliest event reported) </font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">March 22, 2011</font></font><font size="2" style="FONT-FAMILY: Times New Roman"> </font></div>

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<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="5" style="FONT-FAMILY: Times New Roman">PHOTRONICS, INC.</font></font></font><font size="5" style="FONT-FAMILY: Times New Roman"> <br>
</font><font size="2" style="FONT-FAMILY: Times New Roman">(Exact name of registrant as specified in its charter) </font></div>

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<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">0-15451</font></font></div>
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<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">(State or other jurisdiction</font></font></div>
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<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">(Commission File</font></font></div>
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<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">of incorporation)</font></font></div>
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<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Number)</font></font></div>
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<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">Identification Number)</font></font><font size="1" style="FONT-FAMILY: times new roman"> </font></div>
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<div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">15 Secor Road, Brookfield, CT</font></font></font></div>
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<td nowrap width="37%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">06804</font><font size="1" style="FONT-FAMILY: times new roman"> </font></font></td>
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<div align="center"><font style="FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: times new roman">(Address of Principal Executive Offices)</font></font></font></div>
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<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">Registrant&#8217;s Telephone Number, including area code </font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">(203) 775-9000</font></font></font><font size="2" style="FONT-FAMILY: Times New Roman"> </font></div>

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<div align="center"><font size="2" style="FONT-FAMILY: times new roman">(Former name or former address, if changed since last report) </font></div>
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<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman">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: </font></div>

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<div align="justify"><font size="2" style="FONT-FAMILY: times new roman">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div>
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<div align="justify"><font size="2" style="FONT-FAMILY: times new roman">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div>
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<div align="justify"><font size="2" style="FONT-FAMILY: times new roman">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></div>
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<div align="justify"><font size="2" style="FONT-FAMILY: times new roman">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></div>
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<div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">ITEM 8.01 Other Events</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">. </font></font></div>

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<div style="TEXT-ALIGN: left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>On March 22, 2011, the Company, announced the proposed offering of $100,000,000 aggregate principal amount of convertible senior notes due 2016 (the &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">Notes</font></font><font size="2" style="FONT-FAMILY: Times New Roman">&#8221;). The Company&#8217;s press release announcing the launch of the offering is filed as Exhibit 99.1.</font></div>

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<div><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2"><font style="DISPLAY: inline; TEXT-DECORATION: underline">ITEM 7.01 Regulation FD Disclosure</font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: Times New Roman">.</font></font></font></font></div>

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<div style="TEXT-ALIGN: left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">The recent earthquake and tsunami in Japan may have a negative impact on the operations of the business of Photronics, Inc. (the &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">Company</font></font><font size="2" style="FONT-FAMILY: Times New Roman">&#8221;) as well as some of its most important suppliers and customers. The earthquake and ensuing tsunami have severely damaged the infrastructure in the region including roads, ports and other transportation networks, power generation and distribution facilities and other industrial facilities in a large swath of northeastern Japan. Many industrial plants in the area including facilities of some of the Company&#8217;s suppliers have been forced operate at reduced levels. Damage assessments are being made by the Company&#8217;s suppliers. It is too early to accurately gauge the likely extent and duration of any possible disruption to their operations. There can be no assurance, however, that the Company will not face disruptions to its supply chain. Any significant or extended disruptions to the Company&#8217;s supply chain could have a material adverse affect on its business and results of operations.</font></div>

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<div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">ITEM 9.01 </font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">Financial Statements and Exhibits</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">.</font></font></div>

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<div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3">&#160;&#160;&#160;&#160; </font>(d) Exhibits.</font></font></font></div>

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<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman">The following is filed as an exhibit to this Report on Form 8-K:</font></div>

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<td align="left" nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: times new roman">99.1</font></td>
<td align="left" nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; </font></td>
<td align="left" nowrap valign="top" width="97%"><font size="2" style="FONT-FAMILY: times new roman">Press release, dated March 22, 2011.</font></td>
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<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">SIGNATURES </font></font></div>

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<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman">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. </font></div>

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<td align="left" colspan="2" nowrap width="50%"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">PHOTRONICS, INC.</font></font></td>
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<td align="left" colspan="2" nowrap width="50%"><font size="2" style="FONT-FAMILY: times new roman">(Registrant)</font></td>
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<td align="left" nowrap width="50%"><font size="2" style="FONT-FAMILY: times new roman">DATE March 22, 2011</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">By&#160;&#160; </font></td>
<td align="left" nowrap width="49%" style="BORDER-BOTTOM: #000000 1pt solid">/s/ <font size="2">Richelle Burr</font></td>
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<td align="left" nowrap width="49%"><font size="2" style="FONT-FAMILY: times new roman">Richelle E. Burr</font></td>
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<td align="left" nowrap width="49%"><font size="2" style="FONT-FAMILY: times new roman">Vice President, General Counsel</font></td>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit99-1.htm
<DESCRIPTION>PRESS RELEASE, DATED MARCH 22, 2011
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<div align="right"><font size="2" style="FONT-FAMILY: times new roman"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-VARIANT: small-caps"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-VARIANT: small-caps"><font size="2" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-VARIANT: small-caps">For Further Information</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">: <br>
</font></font><font size="2" style="FONT-FAMILY: times new roman">Sean T. Smith<br>
</font><font size="2" style="FONT-FAMILY: times new roman">Senior Vice President<br>
Chief Financial Officer<br>
(203)775-9000<br>
ssmith@photronics.com </font></font></div>
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<div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="5" style="FONT-FAMILY: times new roman">Press Release</font></font></font></div>
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<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="4" style="FONT-FAMILY: Times New Roman">PHOTRONICS ANNOUNCES CONVERTIBLE SENIOR NOTE OFFERING </font></font></div>

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<div align="justify">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">Brookfield, Connecticut March 22, 2011 -- </font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">Photronics, Inc.</font></font><font size="2" style="FONT-FAMILY: Times New Roman"> (NASDAQ:PLAB), a worldwide leader in supplying innovative imaging technology solutions for the global electronics industry, today announced that it intends to offer, subject to market and other considerations, $100,000,000 aggregate principal amount of convertible senior notes maturing in 2016. In connection with this offering, Photronics intends to grant the initial purchasers an option to purchase up to an additional $15,000,000 aggregate principal amount of convertible senior notes to cover over-allotments. The convertible senior notes will be convertible into shares of Photronics common stock. The interest rate, conversion price and other terms of the convertible senior notes will be determined by negotiations between Photronics and the initial purchasers.</font></div>

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<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Substantially concurrent with this offering, Photronics intends to acquire up to $30 million aggregate principal amount of its outstanding 5.50% convertible senior notes due 2014 in individually negotiated transactions, by delivering cash and/or shares of its common stock as consideration. In addition, following this offering the Company intends to repay up to $23 million of other outstanding higher interest bearing debt. The Company intends to use the remaining net proceeds to acquire from time to time additional 2014 notes in the open market and for general corporate purposes, which may include, among other things, working capital and capital expenditures.</font></div>

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<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>The notes and the shares into which the notes will be convertible have not been registered under the Securities Act of 1933, as amended, or applicable state securities laws, and will be offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act. Unless so registered, the notes may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws. </font></div>

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<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the notes or the common stock into which the notes will be convertible in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. </font></div>

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<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">#&#160; #&#160; # </font></div>

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<div align="justify"><font size="1" style="FONT-FAMILY: Times New Roman">The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements made by or on behalf of </font><font style="DISPLAY: inline"><font size="1" style="FONT-FAMILY: times new roman">Photronics, Inc.</font></font><font size="1" style="FONT-FAMILY: Times New Roman"> and its subsidiaries (the Company). The forward-looking statements contained in this press release and other parts of Photronics' web site involve risks and uncertainties that may affect the Company's operations, markets, products, services, prices, and other factors. These risks and uncertainties relate principally to what the terms of the offering will be and whether the offering will be completed</font><font size="1" style="FONT-FAMILY: Times New Roman">. </font></div>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
