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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman">SECURITIES
AND EXCHANGE COMMISSION</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Washington,
D.C.&#160;20549</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman">Form&#160;8-K</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Current
Report</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
to Section&#160;13 or 15(d)&#160;of the Securities Exchange Act of
1934</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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Report (Date of earliest event reported):<font style="DISPLAY: inline; FONT-WEIGHT: bold"> &#160; November 21,
2008</font></font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 24pt; FONT-FAMILY: Times New Roman">Obagi
Medical Products,&#160;Inc.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
name of registrant as specified in its charter)</font></div>
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File Number)</font></div>
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      </font></td>
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Kilroy Airport Way, Suite 500, Long Beach, CA&#160;90806</font></div>
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628-1007</font></div>
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address, if changed since last </font></font><font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">report</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">)</font></font></font></font></div>
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appropriate box below if the Form&#160;8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (<font style="DISPLAY: inline; FONT-STYLE: italic">see</font> General
Instruction A.2. below):</font></div>
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      &#160;&#160;&#160;&#160;&#160;Written communications pursuant to
      Rule&#160;425 under the Securities Act (17 CFR
  230.425)</font></div>
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      &#160;&#160;&#160;&#160;&#160;Soliciting material pursuant to
      Rule&#160;14a-12 under the Exchange Act (17 CFR
  240.14a-12)</font></div>
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              <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-FAMILY: wingdings">o</font>
      &#160;&#160;&#160;&#160;&#160;Pre-commencement communications pursuant to
      Rule&#160;14d-2(b)&#160;under the Exchange Act (17 CFR
      240.14d-2(b))</font></div>
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              <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
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      &#160;&#160;&#160;&#160;&#160;Pre-commencement communications pursuant to
      Rule&#160;13e-4(c)&#160;under the Exchange Act (17 CFR
      240.13e-4(c))</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
November 21, 2008, Obagi Medical Products,&#160;Inc. and OMP, Inc., together as
Borrowers, entered into a Revolving Credit Agreement (the &#8220;Facility&#8221;) with
Comerica Bank as Administrative Agent for the Lenders, Arranger, Syndication
Agent and Documentation Agent, and other financial institutions that may become
parties to the Facility from time to time.&#160;&#160;The&#160;Facility
has&#160;an initial term of three years, ending&#160;on November 21, 2011,
unless terminated earlier in accordance with
its&#160;provisions.&#160;&#160;Under the terms of the Facility, the Borrowers
may access up to $20 million on a revolving line of credit allowing for
advances, repayments and re-advances. Loans under the Facility bear variable
interest based on a margin, at the Company's option, over prime rate or LIBOR as
defined in the&#160;Facility.&#160;&#160;All amounts borrowed under the Facility
are secured by a first priority security interest in all of the tangible and
intangible assets of Borrowers (now or hereafter created). The Facility contains
certain financial and non-financial covenants. Non-financial covenants
include,&#160;among other things, certain limitations on annual capital
expenditures and asset or equity based investments. Financial covenants include
requirements for maintaining a (a) minimum quick ratio, (b) maximum ratio of
total liabilities to net worth and (c) minimum level of
profitability.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
connection with establishing this Facility, the previous Credit Agreement, dated
as of January 28, 2005 (as amended) among OMP, Inc. and GE Business Financial
Services, Inc. (formerly known as Merrill Lynch Business Financial Services,
Inc.) was terminated.&#160;&#160;OMP, Inc. was not in default under this Credit
Agreement, nor did&#160;it have any outstanding balance&#160;on the Credit
Agreement with GE Business Financial Services, Inc. at the time
of&#160;termination.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
9.01 Financial Statements and Exhibits</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)&#160;&#160;Exhibits</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
following exhibits are filed as part of this report:</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">
            <tr>
              <td align="left" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exhibit&#160;Number</font></div>
              </td>
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      </font></td>
              <td align="left" valign="bottom" width="81%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Description</font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="6%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.46</font></div>
              </td>
              <td align="left" valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td align="left" valign="top" width="81%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Revolving
      Credit Agreement, by and between the Company and Comerica Bank, dated as
      of November 21, 2008</font></div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNATURES</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">
            <tr>
              <td align="left" valign="top" width="43%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td align="left" colspan="2" valign="top" width="46%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">OBAGI
      MEDICAL PRODUCTS, INC.</font></div>
              </td>
            </tr>
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              <td align="left" valign="top" width="43%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td align="left" valign="top" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
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      </font></td>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Date:
      November 25, 2008</font></div>
              </td>
              <td align="left" valign="top" width="6%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">By:</font></div>
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      PRESTON S. ROMM</font></div>
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      S. Romm</font></div>
              </td>
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      Financial Officer</font></div>
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form8k.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):
November 21,
2008
Obagi
Medical Products, Inc.
(Exact
name of registrant as specified in its charter)
001-33204
(Commission
File Number)
Delaware
22-3904668
(State
      or other jurisdiction of incorporation)
(I.R.S.
      Employer Identification No.)
3760
Kilroy Airport Way, Suite 500, Long Beach, CA 90806
(Address
of principal executive offices, with zip code)
(562)
628-1007
(Registrant's telephone number, including area code)
(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 (
see
General
Instruction A.2. below):
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
2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
On
November 21, 2008, Obagi Medical Products, Inc. and OMP, Inc., together as
Borrowers, entered into a Revolving Credit Agreement (the "Facility") with
Comerica Bank as Administrative Agent for the Lenders, Arranger, Syndication
Agent and Documentation Agent, and other financial institutions that may become
parties to the Facility from time to time.  The Facility
has an initial term of three years, ending on November 21, 2011,
unless terminated earlier in accordance with
its provisions.  Under the terms of the Facility, the Borrowers
may access up to $20 million on a revolving line of credit allowing for
advances, repayments and re-advances. Loans under the Facility bear variable
interest based on a margin, at the Company's option, over prime rate or LIBOR as
defined in the Facility.  All amounts borrowed under the Facility
are secured by a first priority security interest in all of the tangible and
intangible assets of Borrowers (now or hereafter created). The Facility contains
certain financial and non-financial covenants. Non-financial covenants
include, among other things, certain limitations on annual capital
expenditures and asset or equity based investments. Financial covenants include
requirements for maintaining a (a) minimum quick ratio, (b) maximum ratio of
total liabilities to net worth and (c) minimum level of
profitability.
In
connection with establishing this Facility, the previous Credit Agreement, dated
as of January 28, 2005 (as amended) among OMP, Inc. and GE Business Financial
Services, Inc. (formerly known as Merrill Lynch Business Financial Services,
Inc.) was terminated.  OMP, Inc. was not in default under this Credit
Agreement, nor did it have any outstanding balance on the Credit
Agreement with GE Business Financial Services, Inc. at the time
of termination.
Item
9.01 Financial Statements and Exhibits
(d)  Exhibits
The
following exhibits are filed as part of this report:
Exhibit Number
Description
10.46
Revolving
      Credit Agreement, by and between the Company and Comerica Bank, dated as
      of November 21, 2008
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.
OBAGI
      MEDICAL PRODUCTS, INC.
Date:
      November 25, 2008
By:
/s/
      PRESTON S. ROMM
Preston
      S. Romm
Chief
      Financial Officer
3