SKIS Peak Resorts Inc

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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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): September 17, 2015

 

PEAK RESORTS, INC.

 

(Exact name of registrant as specified in its charter)

 

 

(636) 938-7474

(Registrant’s telephone number, including area code)

 

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:

☐ Written communications pursuant to Rule 425 under the Securities Act.

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act.

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

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Item 8.01. Other Events.

On September 17, 2015, Peak Resorts, Inc. (the “Company”) issued a press release announcing that a fire destroyed the main lodge at its Mad River Resort in Zanesville, Ohio on the evening of September 16, 2015.  A copy of the press release is filed hereto as Exhibit 99.1 and incorporated herein by reference.

After the release was issued on September 17, management conducted an on-site assessment of the fire damage, accompanied by local staff, fire officials and insurance company representatives.  Fortunately, the main lodge only contained the food and beverage operations, which the Company intends to operate out of temporary buildings for the 2015-2016 ski season. All other resort operations, such as equipment rental, ticketing, ski school, tubing, administrative offices, maintenance, etc., are housed in other buildings that were not damaged. Management expects that there will be no meaningful impact on the upcoming ski season.

On September 18, 2015, the Company issued a press release announcing that its board of directors declared a quarterly cash dividend of $0.1375, payable on November 25, 2015 to stockholders of record on October 13, 2015. A copy of the press release is filed hereto as Exhibit 99.2 and incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits.

 

 

 

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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.

 

 

Dated: September 18, 2015

 

 

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For Further Information: 

Heather Wietzel

616-233-0500

InvestorRelations@PeakResorts.com

 

 

Peak Resorts Confirms Fire at Mad River Resort

Minimal Effect Anticipated on 2015-2016 Ski Season

 

Wildwood, Missouri, September 17, 2015 – Peak Resorts, Inc. (NASDAQ:SKIS), a leading owner and operator of high-quality, individually branded ski resorts in the United States, confirmed that a fire destroyed the main lodge at its Mad River Resort in Zanesville, Ohio, on the evening of September 16.  Mad River currently is closed for the season and management is thankful there are no reports of any injuries.  The company has no information at this time as to the cause of the fire.

 

Timothy D. Boyd, president and chief executive officer, said, “The loss of the main lodge at Mad River is a sad event for those who support this resort, which has been in operation for 54 years and an important part of the Peak Resorts family for 14 years.  But, we are very pleased to be able to report that preliminary information indicates that along with no injuries, the property damage will only affect our food and beverage services this winter, a situation we expect to be able to address with temporary facilities.

 

“Peak Resorts is committed to the Mad River resort, and we are already moving ahead to create a plan for the upcoming ski season.  We will be onsite beginning today to talk with the Mad River team, meet with the company’s insurance representative and start planning solutions to address temporary facilities, while ensuring our ski operations are dually engaged for this year’s ski season and going forward.  We will provide more information as it becomes available,” Boyd added.

 

The company noted that at the time of its initial public offering in November 2014, Mad River accounted for approximately 7 percent of the company’s revenues.

 

About Peak Resorts

Headquartered in Missouri, Peak Resorts is a leading owner and operator of high-quality, individually branded ski resorts in the U.S. The company currently operates 13 ski resorts primarily located in the Northeast and Midwest, 12 of which are company owned.

 

The majority of the resorts are located within 100 miles of major metropolitan markets, including New York City, Boston, Philadelphia, Cleveland and St. Louis, enabling day and overnight drive accessibility. The resorts under the company’s umbrella offer a breadth of activities, services and amenities, including skiing, snowboarding, terrain parks, tubing, dining, lodging, equipment rentals and sales, ski and snowboard instruction and mountain biking and other summer activities.

 

Forward Looking Statements

This news release contains forward-looking statements regarding the future outlook and performance of Peak Resorts, Inc., within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to a variety of risks and uncertainties that could cause actual results to differ materially from current expectations. These risks and uncertainties are discussed under the caption “Risk Factors” in the company’s Annual Report on Form 10-K for the year ended April 30, 2015, filed with the Securities and Exchange Commission, and as updated from time to time in the company’s filings with the SEC.  Peak Resorts undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

 

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For Further Information: 

Heather Wietzel

616-233-0500

InvestorRelations@PeakResorts.com

 

 

Peak Resorts Declares Quarterly Cash Dividend

 

Wildwood, Missouri, September 18, 2015 – Peak Resorts, Inc. (NASDAQ:SKIS), a leading owner and operator of high-quality, individually branded ski resorts in the U.S., today announced that the company’s board of directors declared a quarterly cash dividend of 13.75 cents per share of common stock. The dividend is payable on November 25, 2015, to stockholders of record on October 13, 2015.  The current indicated annual dividend is 55 cents per share. 

 

 

About Peak Resorts

Headquartered in Missouri, Peak Resorts is a leading owner and operator of high-quality, individually branded ski resorts in the U.S. The company currently operates 13 ski resorts primarily located in the Northeast and Midwest, 12 of which are company owned.

 

The majority of the resorts are located within 100 miles of major metropolitan markets, including New York City, Boston, Philadelphia, Cleveland and St. Louis, enabling day and overnight drive accessibility. The resorts under the company’s umbrella offer a breadth of activities, services and amenities, including skiing, snowboarding, terrain parks, tubing, dining, lodging, equipment rentals and sales, ski and snowboard instruction and mountain biking and other summer activities.

 

Forward Looking Statements

This press release contains forward-looking statements regarding the future outlook and performance of Peak Resorts, within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to a variety of risks and uncertainties that could cause actual results to differ materially from current expectations. These risks and uncertainties include, but are not limited to, risk factors that could affect the company’s ability to consummate the offering and other risks and uncertainties that are contained in its filings with the Securities and Exchange Commission.  Peak Resorts undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

 

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