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) March 17, 2008
Origen
Financial, Inc.
(Exact name of registrant as specified in its charter)
| |
|
|
|
|
| DELAWARE
|
|
000-50721
|
|
20-0145649 |
|
|
|
|
|
|
| State of Incorporation
|
|
(Commission File Number)
|
|
(I.R.S. Employer |
|
|
|
|
|
Identification No.) |
| |
|
|
| 27777 Franklin Road, Suite 1700, Southfield, Michigan
|
|
48034 |
|
|
|
|
| (Address of Principal Executive Offices)
|
|
(Zip Code) |
Registrant’s telephone number, including area code: (248) 746-7000
(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 (see General Instruction A.2. below):
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 240.14d2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e4(c))
ITEM 8.01 OTHER EVENTS
On March 17, 2008, Origen Financial, Inc. issued a press release reporting that (a) it has
completed the sale of its unsecuritized loan portfolio and used the proceeds to pay off its
warehouse facility and (b) its audited financial statements for the fiscal year ended December 31,
2007, which statements were included in its Annual Report on Form 10-K filed with the Securities
and Exchange Commission on March 17, 2008, contained an unqualified opinion from its independent
registered public accounting firm, Grant Thornton LLP, which included an explanatory paragraph
raising doubt about Origen’s ability to continue as a going concern. Origen’s continued operations
depend on its ability to meet its existing debt obligations. Based on the intrinsic value of
Origen’s assets and discussions it has had with third parties about possible strategic
alternatives, Origen believes it will be able to raise the additional funds it needs on a timely
basis. However, there is no assurance that such funds will be available or will be available on
reasonable terms.
A copy of the press release is attached as Exhibit 99.1.