Integra LifeSciences Holdings Corporation (Form: 8-K)  






Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported):   May 20, 2011

Integra LifeSciences Holdings Corporation
(Exact name of registrant as specified in its charter)

Delaware 000-26244 510317849
(State or other jurisdiction
(I.R.S. Employer
of incorporation) File Number) Identification No.)
311 Enterprise Drive, Plainsboro, New Jersey   08536
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number, including area code:   609-275-0500

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)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

On May 20, 2011, Integra LifeSciences Holdings Corporation (the "Company") borrowed $85 million under its senior secured revolving credit facility. As a result of this borrowing, the Company has $291.3 million of outstanding borrowings under its credit facility as of the date of this filing. The Company used the funds for the acquisition of SeaSpine, Inc. and for other general corporate purposes.

The outstanding borrowings have one-month and three-month interest periods. The weighted average interest rate of the outstanding borrowings is approximately 2.56%.

The credit facility requires the Company to maintain various financial covenants, including a maximum consolidated total leverage ratio, a minimum fixed charge coverage ratio, a minimum liquidity requirement and a maximum capital expenditure requirement. The credit facility also contains customary affirmative and negative covenants, including those that limit the Company’s and its subsidiaries’ ability to incur additional debt, incur liens, make investments, enter into mergers and acquisitions, liquidate or dissolve, sell or dispose of assets, repurchase stock and pay dividends, engage in transactions with affiliates, engage in certain lines of business and enter into sale and leaseback transactions.

Item 8.01 Other Events.


On May 23, 2011, Integra LifeSciences Holdings Corporation (the "Company") acquired all of the issued and outstanding shares of the common stock of SeaSpine, Inc., a Delaware corporation ("SeaSpine") for $89 million in cash, subject to certain post-closing adjustments.

SeaSpine develops and distributes a full range of spinal fixation products, including both hardware and biologics. Based in Vista, California, SeaSpine offers its products to customers across the U.S. and in select markets in Europe. It was founded in 2002.

A copy of the press release issued by the Company announcing the closing of the transaction is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference into this Item.

The information in this Form 8-K (including the exhibit attached hereto) is being furnished under Item 8.01 and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liability of such section, or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

Press release issued May 24, 2011

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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.

    Integra LifeSciences Holdings Corporation
May 23, 2011   By:   Stuart M. Essig
        Name: Stuart M. Essig
        Title: Chief Executive Officer

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Exhibit Index

Exhibit No.   Description

  Press release issued May 24, 2011