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) September 12, 2003
MEDIFAST, INC.
(Exact name of registrant as specified in its charter)
Delaware 000-23016 13-3714405
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation or organization) Ident. No.)
11445 Cronhill Drive, Owings Mills, Maryland 21117
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (410)-581-8042
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(Former name or former address, if changed since last report.)
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Item 5. Other Events
Seven Crondall, LLC, a wholly owned subsidiary of Medifast, Inc.
("Company") (AMEX:MED) has purchased a 119,825 sq. foot distribution facility
located at 601 Sunrise Ave., Ridgely, Maryland 21660 from NewRoads, Inc. for
$2.6 million. The company will finance $1.7 million through Merrill Lynch
Capital at the 30 day LIBOR interest rate plus 220 basis points over seven
years. The Company also acquired the assets and management expertise of Dunst
and Associates, Inc., a 15-year experienced distributor in Eldersburg, Maryland
to operate the new distribution center. The company acquired Dunst and
Associates assets for $400,000 in cash and 3,347 shares of Medifast common
stock, which will provide the infrastructure necessary to continue operations
without interruption since Dunst and Associates currently handles 50% of the
pick and pack distribution business for Medifast.
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.
MEDIFAST, INC.
Dated: September 12, 2003
/s/ Bradley T. MacDonald
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Bradley T. MacDonald
Chairman and Chief Executive Officer
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