UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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 13, 2006 (July 11, 2006)

 

Affordable Residential Communities Inc.
(Exact Name of Registrant as Specified in Charter)

Maryland

001-31987

84-1477939

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(I.R.S. Employer
Identification No.)

 

7887 E. Belleview Ave., Suite 200, Englewood, CO 80111
(Address of Principal Executive Offices)  (Zip Code)

Registrant’s Telephone Number, Including Area Code:  (303) 383-7500

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 8.01 Other Events.

Pursuant to an S-3 (Reg. No. 333-124073) filed April 14, 2005, and effective on May 3, 2005, Affordable Residential Communities Inc. (“ARC”) has outstanding 1,250,000 warrants outstanding and currently exercisable for shares of ARC common stock until expiration on July 23, 2010. A list of the warrant holders and their addresses is maintained by ARC. On July 11, 2006, ARC paid compensation to its non-management directors, which included the issuance of an additional 3,411 shares of common stock of ARC. As a result, effective immediately following the issuance of these shares, the exercise price per share of ARC common stock under the outstanding warrants to purchase ARC common stock will be adjusted to $18.140 and the total number of shares of ARC common stock issuable upon exercise of all of such warrants will be adjusted to 806,229.

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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.

Date:  July 13, 2006

AFFORDABLE RESIDENTIAL COMMUNITIES INC.

 

 

 

 

By:

/S/ Scott L. Gesell

 

 

Scott L. Gesell

 

 

Executive Vice President, General Counsel

 

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