<SEC-DOCUMENT>0000060714-11-000030.txt : 20111222
<SEC-HEADER>0000060714-11-000030.hdr.sgml : 20111222
<ACCEPTANCE-DATETIME>20111222161713
ACCESSION NUMBER:		0000060714-11-000030
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20111222
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20111222
DATE AS OF CHANGE:		20111222

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LSB INDUSTRIES INC
		CENTRAL INDEX KEY:			0000060714
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL INORGANIC CHEMICALS [2810]
		IRS NUMBER:				731015226
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-07677
		FILM NUMBER:		111277721

	BUSINESS ADDRESS:	
		STREET 1:		16 S PENNSYLVANIA
		CITY:			OKLAHOMA CITY
		STATE:			OK
		ZIP:			73101
		BUSINESS PHONE:		4052354546

	MAIL ADDRESS:	
		STREET 1:		16 SOUTH PENNSYLVANIA
		CITY:			OKLAHOMA CITY
		STATE:			OK
		ZIP:			73101
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form_8k.htm
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Date of report (Date of earliest event reported):&#160;&#160;December 16, 2011<font style="FONT-WEIGHT: bold; FONT-SIZE: 14pt; FONT-FAMILY: times new roman"><font style="FONT-WEIGHT: normal">&#160;</font> <br>
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">16 South Pennsylvania Avenue, Oklahoma City, Oklahoma<br>
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<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Address of principal executive offices)</font></div>
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<div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Section 8 &#8211; Other Events</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item 8.01.&#160;&#160;Other Events</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>As previously disclosed, Prime Financial L.L.C. (&#8220;Prime&#8221;), which is a subsidiary of LSB Industries, Inc. (the &#8220;Company&#8221;), South Padre Island Development, LLC (&#8220;PID&#8221;), Landmark Land Company, Gerald G. Barton and Jack E. Golsen (the Company&#8217;s Chairman of the Board and Chief Executive Officer) entered into a Real Estate Purchase Contract, effective September 8, 2011, as amended by the First Amendment to Real Estate Purchase Contract, effective October 21, 2011 (the &#8220;Purchase Contract&#8221;), providing, among other things, for Prime&#8217;s purchase from PID of certain undeveloped land located in Laguna Vista, Texas for a
purchase price of $2,500,000.&#160;&#160;On December 16, 2011, the parties entered into a Second Amendment to Real Estate Purchase Contract (the &#8220;Second Amendment&#8221;) extending Prime&#8217;s inspection period from December 21, 2011, to January 27, 2012, which results in the closing date being extended until February 27, 2012.&#160;&#160;A copy of the Second Amendment is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference into this Item 8.01.</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Second Amendment to Real Estate Purchase Contract, effective December 16, 2011, by and among South Padre Island Development, LLC, Prime Financial L.L.C., Landmark Land Company, Gerald G. Barton and Jack E. Golsen</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 216pt; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By: <font style="TEXT-DECORATION: underline">/s/ Tony M. Shelby<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font></font></font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 216pt; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Tony M. Shelby,</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 216pt; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Executive Vice President of Finance,</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 216pt; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Chief Financial Officer</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECOND AMENDMENT TO</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>This Second Amendment to Real Estate Purchase Contract (&#8220;Amendment&#8221;) is effective as of December ____, 2011, and is entered into by and among:&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">SOUTH PADRE ISLAND DEVELOPMENT, LLC,</font> a Delaware limited liability company (herein &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Seller</font>&#8221;); <font style="DISPLAY: inline; FONT-WEIGHT: bold">PRIME FINANCIAL L.L.C., </font>an Oklahoma limited liability company, or its assigns (herein &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Buyer</font>&#8221;); <font style="DISPLAY: inline; FONT-WEIGHT: bold">LANDMARK LAND
COMPANY, INC.</font>, a Delaware corporation (&#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Landmark</font>&#8221;); <font style="DISPLAY: inline; FONT-WEIGHT: bold">GERALD G. BARTON</font>, an individual (&#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Barton</font>&#8221;); and <font style="DISPLAY: inline; FONT-WEIGHT: bold">JACK E. GOLSEN</font>, an individual (&#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Golsen</font>&#8221;).</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>WHEREAS, Seller, Buyer, Landmark, Barton and Golsen executed a Real Estate Purchase Contract (&#8220;Contract&#8221;) on four tracts of land in Cameron County, Texas associated with Seller&#8217;s and Landmark&#8217;s development of residential and commercial real property in Cameron County, Texas of which the Land is a part;</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>WHEREAS, effective as of October 21, 2011, Seller, Buyer, Landmark, Barton and Golsen, executed a First Amendment to Real Estate Purchase Contract; and</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>WHEREAS, Seller, Buyer, Landmark, Barton and Golsen now desire to amend the Contract in certain other respects.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Seller and Buyer agree as follows:</font></div>

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<div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Reference in Section 4.2 of the Contract, as amended, to December 21, 2011, is changed to January 27, 2012.</font></div>

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<div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Except as provided in this Amendment, all other terms and conditions of the Contract remain in full force and effect.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 243pt; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">/s/ W.W. Vaughan<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font></font></font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 261pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Title:&#160;&#160;Vice President</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 261pt; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Name:&#160;&#160;David R. Goss</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 261pt; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Title:&#160;&#160;Vice President</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 261pt; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Name:&#160;&#160;W.W. Vaughan</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 243pt; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date of Execution: December 16, 2011</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 234pt; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date of Execution: December 19, 2011</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 234pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;Golsen&#8221;:</font> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">/s/ Jack E. Golsen<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font></font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 234pt; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date of Execution: December 17, 2011</font></div>

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