hai-8k.htm
SECURITIES
AND EXCHANGE COMMISSION
UNITED
STATES
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) March 23,
2009
HENNESSY ADVISORS,
INC.
(Exact
name of registrant as specified in its charter)
|
California
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000-49872
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68-0176227
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(State
or other jurisdiction
of
incorporation)
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(Commission
File
Number)
|
(IRS
Employer
Identification
No.)
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|
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7250
Redwood Blvd., Suite 200
Novato,
California
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94945
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant’s
telephone number including area
code: (415)
899-1555
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:
£ Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230
..425)
£ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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£
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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£
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
2.01. Completion
of Acquisition or Disposition of Assets
On March
23, 2009, Hennessy Advisors, Inc. (the “Company”) completed the previously
announced acquisition of assets related to the management of the Tamarack Value
Fund (now known as the Hennessy Select Large Value Fund, HSVFX – Original Class
shares and HSVIX – Institutional Class shares) and the management of the
Tamarack Large Cap Growth Fund (now known as the Hennessy Cornerstone Large
Growth Fund, HFLGX – Original Class shares and HILGX – Institutional Class
shares) for a total purchase price of $1.8 million.
The cash
purchase price for the Tamarack Value Fund was an initial payment of 0.75% of
the aggregate net asset value of the Tamarack Value Fund as of the close of
business on March 20, 2009, which was $106.4 million (the “Closing
NAV”). This initial payment was paid at closing, with an additional
contingent cash payment of up to 0.75% of the Closing NAV to be paid six months
after the closing.
The cash
purchase price for the Tamarack Large Cap Growth Fund was 2.00% of the aggregate
net asset value of the Tamarack Large Cap Growth Fund as of the close of
business on March 20, 2009, which was $52.0 million, and was paid at the
closing.
A
description of the principal terms of the transactions is incorporated by
reference herein from Exhibits 2.1, 2.2 and 99.1 to the Company’s Current Report
on Form 8-K filed with the Securities and Exchange Commission on December 12,
2008.
Pursuant
to the requirements of the Securities and Exchange Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
HENNESSY ADVISORS, INC.
(registrant)
March 25,
2009 By:
/s/Daniel B.
Steadman
Daniel B.
Steadman
Executive
Vice President