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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
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<p style="text-align:center;margin-top:14pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;color:#;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">SECURITIES AND EXCHANGE COMMISSION</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> WASHINGTON, D.C.&#160;&#160;20549</p>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#;font-size:16pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">FORM 8-K</p>
<p style="text-align:center;margin-top:8pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;color:#;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">CURRENT REPORT</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Pursuant to Section 13 or 15(d) of</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">the Securities Exchange Act of 1934</p>
<p style="text-align:center;margin-top:16pt;margin-bottom:0pt;text-indent:0%;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Date of Report (Date of earliest event reported):<font style="font-weight:bold;">&nbsp;&nbsp;August 17, 2015</font></p>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Layne Christensen Company</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(Exact Name of Registrant as Specified in Charter)</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">48-0920712</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(State or Other Jurisdiction</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">of Incorporation)</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(Commission</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">File Number)</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(I.R.S. Employer</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Identification No.)</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;">&nbsp;</p>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">1800 Hughes Landing Boulevard, Ste. 700</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Woodlands, TX 77380</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(Address of Principal Executive Offices)</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(281) 475-2600</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(Registrant&#8217;s telephone number, including area code)</p>
<p style="margin-top:10pt;border-top:Solid 0.75pt #7F0000;padding-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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:</p>
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;color:#;font-family:Arial Unicode MS;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8414;<font style="font-family:Times New Roman;"> Written communications pursuant to </font><font style="font-family:Times New Roman;color:#000000;">Rule 425 under the Securities Act (17 CFR 230.425)</font></p>
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Arial Unicode MS;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8414;<font style="font-family:Times New Roman;"> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Arial Unicode MS;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8414;<font style="font-family:Times New Roman;"> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Arial Unicode MS;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8414;<font style="font-family:Times New Roman;"> Pre-commencement communications pursuant </font><font style="color:#;font-family:Times New Roman;">to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>
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<p style="margin-top:18pt;margin-bottom:0pt;font-weight:bold;color:#;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">ITEM <font style="font-weight:bold;color:#;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">1.01</font></p></td>
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<p style="margin-top:18pt;margin-bottom:0pt;font-weight:bold;color:#;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;"><a name="_AEIOULastRenderedPageBreakAEIOU2"></a><font style="font-weight:bold;color:#;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;color:#;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;color:#;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;color:#;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT</font></p></td></tr></table></div>
<p style="margin-top:10pt;margin-bottom:0pt;text-indent:4.81%;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Effective upon the closing of the sale of the Geoconstruction business segment of Layne Christensen Company (the "Company") on August 17, 2015, the Company's existing asset-based credit facility was amended to, among other things:</p>
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<p style="margin-top:6pt;margin-bottom:0pt;color:#;font-family:'Symbol';font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#183;</p></td>
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<p style="margin-top:6pt;margin-bottom:0pt;color:#;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-size:10pt;"><font style="font-weight:bold;font-style:italic;font-family:Times New Roman;">Reduce Total Commitments</font><font style="font-family:Times New Roman;">: The maximum amount that may be borrowed under the asset-based credit facility was reduced from $135.0 million to $100.0 million.</font></p></td></tr></table></div>
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<p style="margin-top:6pt;margin-bottom:0pt;color:#;font-family:'Symbol';font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#183;</p></td>
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<p style="margin-top:6pt;margin-bottom:0pt;color:#;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-size:10pt;"><font style="font-weight:bold;font-style:italic;font-family:Times New Roman;">Eliminate the $15.0 million "Availability Block"</font><font style="font-family:Times New Roman;">:  Previously the maximum amount that could be borrowed under the asset-based credit facility was reduced by the Availability Block until Layne had delivered to the agent under the asset-based facility financial statements and a compliance certificate for any fiscal quarter commencing after March 2, 2015, demonstrating, for such fiscal quarter and for the immediately preceding fiscal quarter, a Consolidated Fixed Charge Coverage Ratio (as defined in the asset-based credit facility) of at least 1.00 to 1.00 for four consecutive quarters ending with such fiscal quarters.</font></p></td></tr></table></div>
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<p style="margin-top:6pt;margin-bottom:0pt;color:#;font-family:'Symbol';font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#183;</p></td>
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<p style="margin-top:6pt;margin-bottom:0pt;color:#;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-size:10pt;"><font style="font-weight:bold;font-style:italic;font-family:Times New Roman;">Reduce Minimum Excess Availability</font><font style="font-family:Times New Roman;">: The dollar amount of Excess Availability (as defined in the asset-based credit facility) that must be maintained in order to avoid a Cash Dominion Period and a Covenant Compliance Period (each as defined in the asset-based credit facility) was reduced from $25.0 million to $17.5 million.</font></p></td></tr></table></div>
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<p style="margin-top:6pt;margin-bottom:0pt;color:#;font-family:'Symbol';font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#183;</p></td>
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<p style="margin-top:6pt;margin-bottom:0pt;color:#;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-size:10pt;"><font style="font-weight:bold;font-style:italic;font-family:Times New Roman;">Revise Borrowing Base: </font><font style="font-family:Times New Roman;">The manner in which the Borrowing Base under the asset-based credit facility is calculated was revised as follows:</font></p></td></tr></table></div>
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<p style="margin-top:6pt;margin-bottom:0pt;color:#;font-family:Courier New;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">o</p></td>
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<p style="margin-top:6pt;margin-bottom:0pt;color:#;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Courier New;font-size:10pt;"><font style="font-family:Times New Roman;">80% of book value of eligible billed accounts receivable, plus</font></p></td></tr></table></div>
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<p style="margin-top:6pt;margin-bottom:0pt;color:#;font-family:Courier New;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">o</p></td>
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<p style="margin-top:6pt;margin-bottom:0pt;color:#;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Courier New;font-size:10pt;"><font style="font-family:Times New Roman;">equipment availability, minus</font></p></td></tr></table></div>
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<p style="margin-top:6pt;margin-bottom:0pt;color:#;font-family:Courier New;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">o</p></td>
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<p style="margin-top:6pt;margin-bottom:0pt;color:#;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Courier New;font-size:10pt;"><font style="font-family:Times New Roman;">the equipment reserve, minus</font></p></td></tr></table></div>
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<p style="margin-top:6pt;margin-bottom:0pt;color:#;font-family:Courier New;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">o</p></td>
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<p style="margin-top:6pt;margin-bottom:0pt;color:#;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Courier New;font-size:10pt;"><font style="font-family:Times New Roman;">any additional reserves established from time to time by the co-collateral agents.</font></p></td></tr></table></div>
<p style="margin-top:10pt;margin-bottom:0pt;margin-left:7.69%;text-indent:0%;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As part of the amendment, the co-collateral agents established a reserve of $1.0 million for accounts receivable that are subject to counterclaims or disputes and a reserve equal to 10% of total billed receivables for accounts receivable that are subject to advance billing (or similar arrangements), in each case in lieu of excluding all of such receivables as was previously done. </p>
<p style="margin-top:10pt;margin-bottom:0pt;margin-left:7.69%;text-indent:0%;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">For purposes of calculating the Borrowing Base, equipment availability will generally be equal to 85% of the net orderly liquidation value of eligible equipment as reflected on the most recent appraisal obtained by the co-collateral agents, subject to a 1% per quarter reduction.</p>
<p style="margin-top:10pt;margin-bottom:0pt;margin-left:7.69%;text-indent:0%;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The equipment reserve is equal to the value of certain specialized equipment that the Company&#8217;s surety providers have the right to use if necessary to complete a bonded project.&nbsp;&nbsp;Prior to the closing of the sale of the Geoconstruction business segment, the equipment reserve was approximately $5.4 million.&nbsp;&nbsp;It is anticipated that as a result of the sale of the Geoconstruction business segment the equipment reserve will be reduced to approximately $2.6 million. </p>
<p style="margin-top:10pt;margin-bottom:0pt;margin-left:7.69%;text-indent:0%;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company anticipates that the changes to the method for calculating the Borrowing Base will not have a material effect on the Borrowing Base or the Company's liquidity.&nbsp;&nbsp;The Company's Borrowing Base as of June 30, 2015, including the Geoconstruction business segment, was approximately $91.8 million and its Excess Availability was approximately $58.9 million.&nbsp;&nbsp;After giving effect to the sale of the Geoconstruction business segment and the changes to the methodology for calculating the Borrowing Base, the Company estimates that the Borrowing Base and Excess Availability on a pro forma basis would have been approximately $100 million and $67.0 million, respectively.</p>
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<p style="margin-top:6pt;margin-bottom:0pt;color:#;font-family:'Symbol';font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#183;</p></td>
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<p style="margin-top:6pt;margin-bottom:0pt;color:#;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-size:10pt;"><font style="font-weight:bold;font-style:italic;font-family:Times New Roman;">Increase Unused Commitment Fee: </font><font style="font-family:Times New Roman;">The quarterly commitment fee on unused commitments was increased from 0.50% to 0.75%.</font></p></td></tr></table></div>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2</p>

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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.81%;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU3"></a><font style="color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">A copy of the amended and restated asset-based credit facility is attached as </font><font style="color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">E</font><font style="color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">xhibit </font><font style="color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.1 </font><font style="color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">to this Form 8-K. The description of the material terms of the amendments to the asset-based credit facility </font><font style="color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">contained in this report is a summary and is qualified in its entirety by the terms thereof.</font></p>
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<p style="margin-top:10pt;margin-bottom:0pt;font-weight:bold;color:#;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">ITEM 7.01</p></td>
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<p style="margin-top:10pt;margin-bottom:0pt;font-weight:bold;color:#;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">REGULATION FD DISCLOSURE</p></td></tr></table></div>
<p style="margin-top:10pt;margin-bottom:0pt;text-indent:4.81%;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On August 18, 2015, the Company issued a press release announcing the closing of the sale of its Geoconstruction business segment on the terms previously reported, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.&nbsp;&nbsp;The press release shall not be deemed &#8220;filed&#8221; for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be incorporated by reference in any registration statement filed under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated by reference therein.</p>
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<p style="margin-top:10pt;margin-bottom:0pt;font-weight:bold;color:#;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">ITEM<font style="font-weight:bold;color:#;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"> 9.01</font></p></td>
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<p style="margin-top:10pt;margin-bottom:0pt;font-weight:bold;color:#;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">FINANCIAL STATEMENTS AND EXHIBITS.</p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(d)</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Exhibits</font>.</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:22.5pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.1</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Amended and Restated Credit Agreement dated as of August 17, 2015 <font style="color:#000000;">among Layne Christensen Company, as Borrower, certain subsidiaries of Layne Christensen Company, as Co-Borrowers, the guarantors party thereto, the lenders party thereto, PNC Bank, National Association (&#8220;PNC Bank&#8221;), as Administrative Agent, Jefferies Finance, LLC, as Syndication Agent, Lead Arranger and Book Running Manager, PNC Bank and Wells Fargo Bank, N.A., as Co-Collateral Agents, and PNC Bank, as Swingline Lender and Issuing Bank</font>.</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:22.5pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">99.1 </p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Press Release dated August 18, 2015, of Layne Christensen Company announcing that it has completed the sale of its Geoconstruction business segment, furnished pursuant to Item 7.01 hereof.</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;">&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU4"></a><font style="font-weight:bold;color:#;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">SIGNATURES</font></p>
<p style="margin-top:10pt;margin-bottom:0pt;text-indent:5.17%;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Layne Christensen Company</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(Registrant)</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Date: August 19, 2015</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">By:</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-style:italic;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">/s/ J. Michael Anderson</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Name:</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Title:</p></td>
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layn-8k_20150817.htm
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):
August 17, 2015
Layne Christensen Company
(Exact Name of Registrant as Specified in Charter)
Delaware
001-34195
48-0920712
(State or Other Jurisdiction
of Incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
1800 Hughes Landing Boulevard, Ste. 700
The Woodlands, TX 77380
(Address of Principal Executive Offices)
(281) 475-2600
(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 (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))
ITEM
1.01
ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
Effective upon the closing of the sale of the Geoconstruction business segment of Layne Christensen Company (the "Company") on August 17, 2015, the Company's existing asset-based credit facility was amended to, among other things:
·
Reduce Total Commitments
: The maximum amount that may be borrowed under the asset-based credit facility was reduced from $135.0 million to $100.0 million.
·
Eliminate the $15.0 million "Availability Block"
:  Previously the maximum amount that could be borrowed under the asset-based credit facility was reduced by the Availability Block until Layne had delivered to the agent under the asset-based facility financial statements and a compliance certificate for any fiscal quarter commencing after March 2, 2015, demonstrating, for such fiscal quarter and for the immediately preceding fiscal quarter, a Consolidated Fixed Charge Coverage Ratio (as defined in the asset-based credit facility) of at least 1.00 to 1.00 for four consecutive quarters ending with such fiscal quarters.
·
Reduce Minimum Excess Availability
: The dollar amount of Excess Availability (as defined in the asset-based credit facility) that must be maintained in order to avoid a Cash Dominion Period and a Covenant Compliance Period (each as defined in the asset-based credit facility) was reduced from $25.0 million to $17.5 million.
·
Revise Borrowing Base:
The manner in which the Borrowing Base under the asset-based credit facility is calculated was revised as follows:
o
80% of book value of eligible billed accounts receivable, plus
o
equipment availability, minus
o
the equipment reserve, minus
o
any additional reserves established from time to time by the co-collateral agents.
As part of the amendment, the co-collateral agents established a reserve of $1.0 million for accounts receivable that are subject to counterclaims or disputes and a reserve equal to 10% of total billed receivables for accounts receivable that are subject to advance billing (or similar arrangements), in each case in lieu of excluding all of such receivables as was previously done.
For purposes of calculating the Borrowing Base, equipment availability will generally be equal to 85% of the net orderly liquidation value of eligible equipment as reflected on the most recent appraisal obtained by the co-collateral agents, subject to a 1% per quarter reduction.
The equipment reserve is equal to the value of certain specialized equipment that the Company's surety providers have the right to use if necessary to complete a bonded project.  Prior to the closing of the sale of the Geoconstruction business segment, the equipment reserve was approximately $5.4 million.  It is anticipated that as a result of the sale of the Geoconstruction business segment the equipment reserve will be reduced to approximately $2.6 million.
The Company anticipates that the changes to the method for calculating the Borrowing Base will not have a material effect on the Borrowing Base or the Company's liquidity.  The Company's Borrowing Base as of June 30, 2015, including the Geoconstruction business segment, was approximately $91.8 million and its Excess Availability was approximately $58.9 million.  After giving effect to the sale of the Geoconstruction business segment and the changes to the methodology for calculating the Borrowing Base, the Company estimates that the Borrowing Base and Excess Availability on a pro forma basis would have been approximately $100 million and $67.0 million, respectively.
·
Increase Unused Commitment Fee:
The quarterly commitment fee on unused commitments was increased from 0.50% to 0.75%.
2
A copy of the amended and restated asset-based credit facility is attached as
E
xhibit
4.1
to this Form 8-K. The description of the material terms of the amendments to the asset-based credit facility
contained in this report is a summary and is qualified in its entirety by the terms thereof.
ITEM 7.01
REGULATION FD DISCLOSURE
On August 18, 2015, the Company issued a press release announcing the closing of the sale of its Geoconstruction business segment on the terms previously reported, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.  The press release shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be incorporated by reference in any registration statement filed under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated by reference therein.
ITEM
9.01
FINANCIAL STATEMENTS AND EXHIBITS.
(d)
Exhibits
.
4.1
Amended and Restated Credit Agreement dated as of August 17, 2015
among Layne Christensen Company, as Borrower, certain subsidiaries of Layne Christensen Company, as Co-Borrowers, the guarantors party thereto, the lenders party thereto, PNC Bank, National Association ("PNC Bank"), as Administrative Agent, Jefferies Finance, LLC, as Syndication Agent, Lead Arranger and Book Running Manager, PNC Bank and Wells Fargo Bank, N.A., as Co-Collateral Agents, and PNC Bank, as Swingline Lender and Issuing Bank
.
99.1
Press Release dated August 18, 2015, of Layne Christensen Company announcing that it has completed the sale of its Geoconstruction business segment, furnished pursuant to Item 7.01 hereof.
3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Layne Christensen Company
(Registrant)
Date: August 19, 2015
By:
/s/ J. Michael Anderson
Name:
J. Michael Anderson
Title:
Senior Vice President and Chief Financial Officer