<!doctype html public "-//IETF//DTD HTML//EN">
<HTML>
<HEAD>
<TITLE>UNITED STATES </TITLE>
<META NAME="date" CONTENT="06/25/2009">
</HEAD>
<BODY style="line-height:12pt; font-family:Times New Roman; font-size:10pt; color:#000000">
<DIV style="width:681.6px"><P style="line-height:15pt; margin:0px; font-size:13pt" align=right>&nbsp;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR height=0 style="font-size:0; display:none"><TD width=696></TD></TR>
<TR><TD style="border-bottom:12px double #000000" valign=top width=696><P>&nbsp;</P></TD></TR>
</TABLE>
<P style="line-height:20pt; margin-top:8px; margin-bottom:0px; font-size:18pt" align=center><B>UNITED STATES </B></P>
<P style="line-height:20pt; margin:0px; font-size:18pt" align=center><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P style="line-height:15.5pt; margin:0px; font-size:13.5pt" align=center><B>Washington, D.C. 20549 </B></P>
<P style="margin:0px" align=center><BR></P>
<P style="line-height:20pt; margin:0px; font-size:18pt" align=center><B>FORM 8-K</B></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><B>CURRENT REPORT</B></P>
<P style="margin:0px" align=center><B>PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</B></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): JUNE 19, 2009</P>
<P style="margin:0px" align=center><BR></P>
<P style="line-height:20pt; margin:0px; font-size:18pt" align=center><B>RATHGIBSON, INC. </B></P>
<P style="margin:0px" align=center>(Exact name of registrant as specified in its charter) </P>
<P style="margin:0px" align=justify><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR height=0 style="font-size:0; display:none"><TD width=252></TD><TD width=90></TD><TD width=90></TD><TD width=252></TD></TR>
<TR><TD valign=bottom width=252><P style="margin:0px" align=center>Delaware</P>
</TD><TD valign=bottom width=180 colspan=2><P style="margin:0px" align=center>333-134875</P>
</TD><TD valign=bottom width=252><P style="margin:0px" align=center>22-3683283</P>
</TD></TR>
<TR><TD valign=bottom width=252><P style="margin:0px" align=center>(State or other jurisdiction of incorporation)</P>
</TD><TD valign=bottom width=180 colspan=2><P style="margin:0px" align=center>(Commission File Number)</P>
</TD><TD valign=bottom width=252><P style="margin:0px" align=center>(I.R.S. Employer Identification No.)</P>
</TD></TR>
<TR><TD valign=bottom width=342 colspan=2><P style="margin:0px">&nbsp;&nbsp;</P>
</TD><TD valign=bottom width=342 colspan=2><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=342 colspan=2><P style="margin:0px" align=center>475 Half Day Road, Suite 210, Lincolnshire, Illinois</P>
</TD><TD valign=bottom width=342 colspan=2><P style="margin:0px" align=center>60069</P>
</TD></TR>
<TR><TD valign=bottom width=342 colspan=2><P style="margin:0px" align=center>(Address of principal executive offices)</P>
</TD><TD valign=bottom width=342 colspan=2><P style="margin:0px" align=center>(Zip Code)</P>
</TD></TR>
<TR><TD valign=bottom width=342 colspan=2><P style="margin:0px">&nbsp;&nbsp;</P>
</TD><TD valign=bottom width=342 colspan=2><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=684 colspan=4><P style="margin:0px" align=center>(847) 276-2100</P>
</TD></TR>
<TR><TD valign=bottom width=684 colspan=4><P style="margin:0px" align=center>(Registrant&#146;s telephone number, including area code)</P>
</TD></TR>
<TR><TD valign=bottom width=342 colspan=2><P style="margin:0px">&nbsp;&nbsp;</P>
</TD><TD valign=bottom width=342 colspan=2><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=684 colspan=4><P style="margin:0px" align=center>N/A</P>
</TD></TR>
<TR><TD valign=bottom width=684 colspan=4><P style="margin:0px" align=center>(Former name, former address and former fiscal year, if changed since last report)</P>
</TD></TR>
</TABLE>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>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="line-height:8pt; margin:0px; font-size:6pt" align=justify>&nbsp;&nbsp;</P>
<P style="margin:0px; font-family:Wingdings" align=justify>o<FONT style="font-family:Times New Roman">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-family:Wingdings" align=justify>o<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:0px" align=justify><BR></P>
<P style="margin:0px; font-family:Wingdings" align=justify>o<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:0px" align=justify><BR></P>
<P style="margin:0px; font-family:Wingdings" align=justify>o<FONT style="font-family:Times New Roman">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>
<P style="margin:0px" align=justify><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR height=0 style="font-size:0; display:none"><TD width=696></TD></TR>
<TR><TD style="border-bottom:12px double #000000" valign=top width=696><P>&nbsp;</P></TD></TR>
</TABLE>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:10pt; margin:0px"><BR></P>
<P style="line-height:10pt; margin:0px"><BR></P>
</DIV><DIV style="width:700.8px"><P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px" align=justify><B>Item 1.01. Entry into a Material Definitive Agreement.</B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px"><B>Overview</B></P>
<P style="margin:0px"><BR></P>
<P style="line-height:normal; margin:0px; text-indent:24px" align=justify>On June 19, 2009, RathGibson, Inc. (the &#8220;Company&#8221;) entered into an eighth amendment to its senior secured revolving credit facility<FONT style="font-size:12pt"><B> </B></FONT>(the &#147;Revolving Credit Facility&#148;), dated as of February 7, 2006, by and among the Company, RGCH Holdings Corp., Greenville Tube Company, the financial institutions who are or become lenders thereunder and General Electric Capital Corporation (in its individual capacity and as agent). &nbsp;The amendment was entered into in connection with a series of transactions pursuant to which Wayzata Opportunities Fund II, L.P. acquired all of the rights and obligations of the lenders under the Revolving Credit Facility. &nbsp;The amendment provides for: (i) modifications to certain terms of the Revolving Credit Facility; and (ii) a forebearance period with respect to any default or event of default under the Revolving Credit Facility existing on the effective date of the amendment.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><B>Amendments to the Revolving Credit Facility</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; text-indent:24px">The amendments to the Revolving Credit Facility:</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:48px; text-indent:-24px" align=justify>(i)</P>
<P style="margin:0px; padding-left:48px" align=justify>permit the Company to draw up to $11.0 million under the Revolving Credit Facility as overadvances that would not otherwise be permitted by reference to the Company&#146;s borrowing base during the period commencing on the effective date of the amendment and ending on the expiration of the forebearance period, as explained below; </P>
<P style="margin:0px; padding-left:24px" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:48px; text-indent:-24px" align=justify>(ii)</P>
<P style="margin:0px; padding-left:48px" align=justify>terminate the Company&#146;s right to receive letters of credit under the Revolving Credit Facility; and </P>
<P style="margin:0px" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:48px; text-indent:-24px" align=justify>(iii)</P>
<P style="margin:0px; padding-left:48px" align=justify>modify the borrowing base under the Revolving Credit Facility to allow the lenders to waive, in whole or in part, the $5.0 million reduction in the borrowing base as a result of the Company not maintaining a fixed charge coverage ratio (as defined in the agreement) of at least 1:1 for the most recent four fiscal quarters.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><B>Forebearance</B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; text-indent:24px" align=justify>The amendment provides for a forebearance period with respect to any default or event of default under the Revolving Credit Facility that was in existence on the effective date of the amendment. &nbsp;The forebearance period commenced on the effective date of the amendment and will expire on June 30, 2009, subject to certain conditions that could accelerate the expiration of the forebearance period. &nbsp;</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR>
<BR></P>
<P style="line-height:10pt; margin:0px" align=center>2</P>
<P style="line-height:10pt; margin:0px"><BR></P>
<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=center><B>SIGNATURES</B></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; text-indent:24px">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.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR height=0 style="font-size:0; display:none"><TD width=426></TD><TD width=234></TD></TR>
<TR><TD valign=top width=426><P style="margin:0px">&nbsp;&nbsp;</P>
</TD><TD valign=top width=234><P style="margin:0px"><B>RATHGIBSON, INC.</B></P>
</TD></TR>
<TR><TD valign=top width=426><P style="margin:0px">&nbsp;&nbsp;</P>
</TD><TD valign=top width=234><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=426><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=234><P style="margin:0px">/s/ Jon M. Smith</P>
</TD></TR>
<TR><TD valign=top width=426><P>&nbsp;</P></TD><TD valign=top width=234><P style="margin:0px">Jon M. Smith</P>
</TD></TR>
<TR><TD valign=top width=426><P>&nbsp;</P></TD><TD valign=top width=234><P style="margin:0px">Chief Financial Officer</P>
</TD></TR>
<TR><TD valign=top width=426><P style="margin:0px">&nbsp;&nbsp;</P>
</TD><TD valign=top width=234><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=426><P style="margin:0px">Date: &nbsp;June 25, 2009</P>
</TD><TD valign=top width=234><P>&nbsp;</P></TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<A NAME="Item6Exhibits"></A><P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR>
<BR></P>
<P style="line-height:10pt; margin:0px" align=center>3</P>
<P style="line-height:10pt; margin:0px"><BR></P>
</DIV></BODY>
<!-- EDGAR Validation Code: 3C54AB3A -->
</HTML>
[{"type": "8-K", "sequence": "1", "filename": "rathgibson0625098k.htm", "description": "8K", "secsgml_size_bytes": 12244}, {"type": "8-K", "sequence": "2", "filename": "rathgibson0625098k.pdf", "description": "8K PDF", "secsgml_size_bytes": 26867}]
[{"company-data": {"conformed-name": "RathGibson Inc", "cik": "0001363346", "assigned-sic": "3317", "irs-number": "223683283", "state-of-incorporation": "DE", "fiscal-year-end": "0131"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-134875", "film-number": "09909836"}, "business-address": {"street1": "475 HALF DAY ROAD", "street2": "SUITE 210", "city": "LINCOLNSHIRE", "state": "IL", "zip": "60069", "phone": "847-276-2100"}, "mail-address": {"street1": "475 HALF DAY ROAD", "street2": "SUITE 210", "city": "LINCOLNSHIRE", "state": "IL", "zip": "60069"}}, {"company-data": {"conformed-name": "Greenville Tube CO", "cik": "0001378670", "irs-number": "710942689", "state-of-incorporation": "DE", "fiscal-year-end": "0131"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-134875-01", "film-number": "09909837"}, "business-address": {"street1": "2505 FOSTER AVENUE", "city": "JANESVILLE", "state": "WI", "zip": "53547", "phone": "800-367-7284"}, "mail-address": {"street1": "2505 FOSTER AVENUE", "city": "JANESVILLE", "state": "WI", "zip": "53547"}}]
UNITED STATES
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): JUNE 19, 2009
RATHGIBSON, INC.
(Exact name of registrant as specified in its charter)
Delaware
333-134875
22-3683283
(State or other jurisdiction of incorporation)
(Commission File Number)
(I.R.S. Employer Identification No.)
475 Half Day Road, Suite 210, Lincolnshire, Illinois
60069
(Address of principal executive offices)
(Zip Code)
(847) 276-2100
(Registrant's telephone number, including area code)
N/A
(Former name, former address and former fiscal year, 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:
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 240.14d-2(b))
o
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.
Overview
On June 19, 2009, RathGibson, Inc. (the "Company") entered into an eighth amendment to its senior secured revolving credit facility
(the "Revolving Credit Facility"), dated as of February 7, 2006, by and among the Company, RGCH Holdings Corp., Greenville Tube Company, the financial institutions who are or become lenders thereunder and General Electric Capital Corporation (in its individual capacity and as agent).  The amendment was entered into in connection with a series of transactions pursuant to which Wayzata Opportunities Fund II, L.P. acquired all of the rights and obligations of the lenders under the Revolving Credit Facility.  The amendment provides for: (i) modifications to certain terms of the Revolving Credit Facility; and (ii) a forebearance period with respect to any default or event of default under the Revolving Credit Facility existing on the effective date of the amendment.
Amendments to the Revolving Credit Facility
The amendments to the Revolving Credit Facility:
(i)
permit the Company to draw up to $11.0 million under the Revolving Credit Facility as overadvances that would not otherwise be permitted by reference to the Company's borrowing base during the period commencing on the effective date of the amendment and ending on the expiration of the forebearance period, as explained below;
(ii)
terminate the Company's right to receive letters of credit under the Revolving Credit Facility; and
(iii)
modify the borrowing base under the Revolving Credit Facility to allow the lenders to waive, in whole or in part, the $5.0 million reduction in the borrowing base as a result of the Company not maintaining a fixed charge coverage ratio (as defined in the agreement) of at least 1:1 for the most recent four fiscal quarters.
Forebearance
The amendment provides for a forebearance period with respect to any default or event of default under the Revolving Credit Facility that was in existence on the effective date of the amendment.  The forebearance period commenced on the effective date of the amendment and will expire on June 30, 2009, subject to certain conditions that could accelerate the expiration of the forebearance period.
2
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.
RATHGIBSON, INC.
/s/ Jon M. Smith
Jon M. Smith
Chief Financial Officer
Date:  June 25, 2009
3