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<TITLE>Form 8-K</TITLE>
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<P align=center style='font:11pt Calibri;margin:0'><FONT style='font:18pt Times New Roman'><B>UNITED STATES</B></FONT><BR><FONT style='font:18pt Times New Roman'><B>SECURITIES AND EXCHANGE COMMISSION</B></FONT></P>
<P align=center style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'><B>WASHINGTON, D.C. 20549</B></FONT></P>
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<P align=center style='font:11pt Calibri;margin:0'><FONT style='font:18pt Times New Roman'><B>FORM&#160;8-K</B></FONT></P>
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<P align=center style='font:11pt Calibri;margin:0'><FONT style='font:12pt Times New Roman'><B>CURRENT REPORT</B></FONT><BR><FONT style='font:12pt Times New Roman'><B>PURSUANT TO SECTION&#160;13 OR 15(d)&#160;OF THE</B></FONT><BR><FONT style='font:12pt Times New Roman'><B>SECURITIES EXCHANGE ACT OF 1934</B></FONT></P>
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<P align=center style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>Date of report (Date of earliest event reported):&#160;<B>June 10, 2015</B></FONT></P>
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<P align=center style='font:11pt Calibri;margin:0'><FONT style='font:18pt Times New Roman'><B>PERNIX GROUP,&#160;INC.</B></FONT></P>
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<TABLE align='center' style='border-collapse:collapse;width:100%'><TR><TD valign='top' style='width:32%'><P align=center style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'><B>Delaware</B></FONT></P></TD><TD valign='bottom' style='width:2%'><P style='font:11pt Calibri;margin:0'><FONT style='font:1pt Times New Roman'><B>&#160;</B></FONT></P></TD><TD valign='top' style='width:32%'><P align=center style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'><B>333-92445</B></FONT></P></TD><TD valign='bottom' style='width:2%'><P style='font:11pt Calibri;margin:0'><FONT style='font:1pt Times New Roman'><B>&#160;</B></FONT></P></TD><TD valign='top' style='width:32%'><P align=center style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'><B>36-4025775</B></FONT></P></TD></TR>
<TR><TD valign='top' style='width:32%'><P align=center style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>(State or Other Jurisdiction</FONT><BR><FONT style='font:10pt Times New Roman'>of Incorporation)</FONT></P></TD><TD valign='bottom' style='width:2%'><P style='font:11pt Calibri;margin:0'><FONT style='font:1pt Times New Roman'>&#160;</FONT></P></TD><TD valign='top' style='width:32%'><P align=center style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>(Commission File Number)</FONT></P></TD><TD valign='bottom' style='width:2%'><P style='font:11pt Calibri;margin:0'><FONT style='font:1pt Times New Roman'>&#160;</FONT></P></TD><TD valign='top' style='width:32%'><P align=center style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>(I.R.S. Employer</FONT><BR><FONT style='font:10pt Times New Roman'>Identification No.)</FONT></P></TD></TR>
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<TABLE align='center' style='border-collapse:collapse;width:100%'><TR><TD valign='bottom' style='width:49%'><P align=center style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'><B>151 E. 22nd Street</B></FONT><BR><FONT style='font:10pt Times New Roman'><B>Lombard,&#160;Illinois</B></FONT></P></TD><TD valign='bottom' style='width:2%'><P style='font:11pt Calibri;margin:0'><FONT style='font:1pt Times New Roman'><B>&#160;</B></FONT></P></TD><TD valign='bottom' style='width:49%'><P align=center style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'><B>60148</B></FONT></P></TD></TR>
<TR><TD valign='top' style='width:49%'><P align=center style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>(Address of Principal Executive Offices)</FONT></P></TD><TD valign='bottom' style='width:2%'><P style='font:11pt Calibri;margin:0'><FONT style='font:1pt Times New Roman'>&#160;</FONT></P></TD><TD valign='top' style='width:49%'><P align=center style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>(Zip Code)</FONT></P></TD></TR>
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<P align=center style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'><B>(630) 620-4787</B></FONT></P>
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<P align=center style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>(Former Name or Former Address, if Changed Since Last Report)</FONT></P>
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<P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>Check the 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 (<I>see&#160;</I>General Instruction A.2. below):</FONT></P>
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<P style='font:11pt Calibri;margin:0;text-indent:-18pt;margin-left:18pt'><FONT style='font:10pt Wingdings'>&#111;</FONT><FONT style='font:10pt Times New Roman'>&#160;Written communications pursuant to Rule&#160;425 under the Securities Act (17 CFR 230.425)</FONT></P>
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<P style='font:11pt Calibri;margin:0;text-indent:-18pt;margin-left:18pt'><FONT style='font:10pt Wingdings'>&#111;</FONT><FONT style='font:10pt Times New Roman'>&#160;Soliciting material pursuant to Rule&#160;14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>
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<P style='font:11pt Calibri;margin:0;text-indent:-18pt;margin-left:18pt'><FONT style='font:10pt Wingdings'>&#111;</FONT><FONT style='font:10pt Times New Roman'>&#160;Pre-commencement communications pursuant to Rule&#160;14d-2(b)&#160;under the Exchange Act (17 CFR 240.14d-2(b))</FONT></P>
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<P style='font:11pt Calibri;margin:0;text-indent:-18pt;margin-left:18pt'><FONT style='font:10pt Wingdings'>&#111;</FONT><FONT style='font:10pt Times New Roman'>&#160;Pre-commencement communications pursuant to Rule&#160;13e-4(c)&#160;under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>
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<P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'><B>ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT</B></FONT></P>
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<P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>The information set forth in Item 3.02 below is hereby incorporated by reference in this Item 1.01.</FONT></P>
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<P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'><B>ITEM 3.02 UNREGISTERED SALES OF EQUITY SECURITIES</B></FONT></P>
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<P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'><I>Creation of Series C Preferred Stock</I></FONT></P>
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<P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>On June 10, 2015, Pernix Group, Inc. (the &#8220;Company&#8221;) filed a Certificate of Designations of Series C Preferred Stock (the &#8220;Certificate of Designations&#8221;) with the Delaware Secretary of State, designating 4,000,000 shares of the Company&#8217;s undesignated preferred stock, par value $0.01 per share, as Series C Cumulative Convertible Preferred Stock (the &#8220;Series C Preferred Stock&#8221;). &nbsp;A copy of the Certificate of Designations is attached to this Current Report on Form 8-K as Exhibit 3.1, and the description of the Series C Preferred Stock contained herein is a summary and is qualified in its entirety by reference to the full text of the Certificate of Designations.</FONT></P>
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<P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>The Company at its option, may convert each share of Series C Preferred Stock into one share of the Company&#8217;s common stock upon 30 days&#8217; written notice to the holder of such Series C Preferred Stock and subject to adjustment for certain antidilution provisions set forth in the Certificate of Designations. &nbsp;Dividends will cease to accrue on shares of Series C Preferred Stock on the date of any such conversion.</FONT></P>
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<P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>The Series C Preferred Stock will rank, with respect to dividend rights and certain rights on liquidation, winding up and dissolution, (a) senior to the Company&#8217;s common stock, (b) on a parity with the Company&#8217;s Series A Preferred Stock and Series B Preferred Stock and (c) junior to each other class or series of stock established after the date of the Certificate of Designations if the terms of such other class or series provide that such other class or series is senior to the Series C Preferred Stock.</FONT></P>
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<P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>From and after July 1, 2015, the holders of outstanding shares of Series C Preferred Stock will be entitled to receive, when, as and if declared by the Board of Directors of the Company and to the extent permitted by the Delaware General Corporation Law, before any dividend or other distribution is declared or paid with respect to outstanding junior securities of the Company, cumulative dividends payable bi-annually in arrears on January 1 and July 1 in each year (each of such dates is referred to herein as a &#8220;Dividend Payment Date&#8221; and the period between consecutive Dividend Payment Dates is referred to herein as a &#8220;Dividend Period&#8221;) commencing July 1, 2016. </FONT></P>
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<P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>From July 1, 2015 through July 1, 2016, all dividends accrued will be paid to the holders of Series C Preferred Stock in the form of the Company&#8217;s common stock valued solely for these purposes equal to US$5.00 per share. Thereafter, such dividends will be payable to the holders of Series C Preferred Stock in cash. &nbsp;The dividend rate on outstanding shares of Series C Preferred Stock will be $.80 per share per annum, computed on the basis of a 365-day year and the actual number of days elapsed in each Dividend Period. In the event of a dividend paid with the Company&#8217;s common stock, the total dividend amount owed to the holders of Series C Preferred Stock will be divided by the US$5.00 per share of common stock rate to establish the number of shares of the Company&#8217;s common stock owed as a dividend from July 1, 2015 through July 1, 2016. </FONT></P>
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<P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'><I>Series C Preferred Stock Offering</I></FONT></P>
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<P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>On June 10, 2015, the Company entered into Series C Cumulative, Convertible Preferred Stock Purchase Agreements (the &#8220;SPAs&#8221;) with each of Ernil Continental S.A., BVI (&#8220;Ernil&#8221;) and Halbarad Group, Ltd., BVI (&#8220;Halbarad&#8221;), the two largest shareholders of the Company. &nbsp;Copies of each SPA are attached to this Current Report on Form 8-K as Exhibits 10.1 and 10.2, respectively, and the descriptions of certain terms of the SPAs contained herein are summaries and are qualified in their entirety by reference to the full text of the SPAs. &nbsp;</FONT></P>
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<P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>Pursuant to the terms of the SPAs, the Company has agreed to issue 550,000 shares and 450,000 shares, respectively, of Series C Preferred Stock to each of Ernil and Halbarad at a purchase price per share of $10.00 for total cash investments by Ernil and Halbarad of $5,500,000 and $4,500,000, respectively. </FONT></P>
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<P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>There were no underwriting discounts or commissions incurred in the offering of Series C Preferred Stock to Ernil and Halbarad. &nbsp;The Company expects to use the proceeds of the offering of Series C Preferred Stock to fund the acquisition of KBR Building Group, LLC for $22 million and the negative working capital target of negative ($6.0) million associated with the transaction. </FONT></P>
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<P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>The issuance and sale of the Series C Preferred Stock to Ernil and Halbarad is exempt from registration under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;), pursuant to Section 4(a)(2) and Regulation D of the Securities Act. &nbsp;The Company has not engaged in general solicitation or advertising with regard to the issuance and sale of the Series C Preferred Stock and has not offered securities to the public in connection with such issuance and sale.</FONT></P>
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<P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'><B>ITEM 3.03 MATERIAL MODIFICATION TO RIGHTS OF SECURITY HOLDERS</B></FONT></P>
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<P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>The information set forth in Item 3.02 above is hereby incorporated by reference in this Item 3.03.</FONT></P>
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<P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'><B>ITEM 5.03 AMENDMENTS TO ARTICLES OF INCORPORATION OR BYLAWS; CHANGE IN FISCAL YEAR</B></FONT></P>
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<P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>The information set forth in Item 3.02 above is hereby incorporated by reference in this Item 5.03.</FONT></P>
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<P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'><B>ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS</B></FONT></P>
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<P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>(d)&#160;Exhibits.</FONT></P>
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<TABLE style='border-collapse:collapse;width:100.96%;margin-left:-4.5pt'><TR><TD valign='bottom' style='width:12.06%;border-bottom:1pt solid #000000'><P style='font:11pt Calibri;margin:0'><FONT style='font:8pt Times New Roman'><B>Exhibit</B></FONT><BR><FONT style='font:8pt Times New Roman'><B>No.</B></FONT></P></TD><TD valign='bottom' style='width:2.02%'><P align=center style='font:11pt Calibri;margin:0'><FONT style='font:1pt Times New Roman'><B>&#160;</B></FONT></P></TD><TD valign='bottom' style='width:85.92%;border-bottom:1pt solid #000000'><P align=center style='font:11pt Calibri;margin:0'><FONT style='font:8pt Times New Roman'><B>Description</B></FONT></P></TD></TR>
<TR><TD valign='top' style='width:12.06%'><P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>&#160;</FONT></P></TD><TD valign='bottom' style='width:2.02%'><P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>&#160;</FONT></P></TD><TD valign='top' style='width:85.92%'><P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>&#160;</FONT></P></TD></TR>
<TR><TD valign='top' style='width:12.06%'><P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>3.1</FONT></P><P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>10.1</FONT></P><P style='font:11pt Calibri;margin:0'><font style='font-size:10pt;'>&nbsp;</font></P><P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>10.2</FONT></P><P style='font:11pt Calibri;margin:0'><font style='font-size:10pt;'>&nbsp;</font></P><P style='font:11pt Calibri;margin:0'><font style='font-size:12pt;'>&nbsp;</font></P></TD><TD valign='bottom' style='width:2.02%'><P style='font:11pt Calibri;margin:0'><FONT style='font:1pt Times New Roman'>&#160;</FONT></P></TD><TD valign='top' style='width:85.92%'><P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>Certificate of Designations Series C Preferred Stock, dated June 10, 2015</FONT></P><P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>Series C Cumulative, Convertible Preferred Stock Purchase Agreement, dated June 10, 2015, by and between Pernix Group, Inc. and Ernil Continental S.A., BVI</FONT></P><P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>Series C Cumulative, Convertible Preferred Stock Purchase Agreement, dated June 10, 2015, by and between Pernix Group, Inc. and Halbarad Group, Ltd., BVI</FONT></P><P style='font:11pt Calibri;margin:0'><font style='font-size:12pt;'>&nbsp;</font></P></TD></TR>
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<P align=center style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman;color:#000000'><B>SIGNATURE</B></FONT></P>
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<P style='font:11pt Calibri;margin:0;text-indent:36pt'><FONT style='font:10pt Times New Roman;color:#000000'>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></P>
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<TABLE style='border-collapse:collapse;width:100%'><TR><TD valign='top' style='width:49.96%'><P style='font:11pt Calibri;margin:0'><FONT style='font:1pt Times New Roman'>&#160;</FONT></P></TD><TD colspan='2' valign='top' style='width:50.04%'><P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>PERNIX GROUP,&#160;INC.</FONT></P></TD></TR>
<TR><TD valign='top' style='width:49.96%'><P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>&#160;</FONT></P></TD><TD valign='top' style='width:3.88%'><P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>&#160;</FONT></P></TD><TD valign='top' style='width:46.16%'><P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>&#160;</FONT></P></TD></TR>
<TR><TD valign='top' style='width:49.96%'><P style='font:11pt Calibri;margin:0'><FONT style='font:1pt Times New Roman'>&#160;</FONT></P></TD><TD valign='top' style='width:3.88%'><P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>By:</FONT></P></TD><TD valign='top' style='width:46.16%;border-bottom:1pt solid #000000'><P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>/s/ Nidal Z. Zayed</FONT></P></TD></TR>
<TR><TD valign='top' style='width:49.96%'><P style='font:11pt Calibri;margin:0'><FONT style='font:1pt Times New Roman'>&#160;</FONT></P></TD><TD valign='top' style='width:3.88%'><P style='font:11pt Calibri;margin:0'><FONT style='font:1pt Times New Roman'>&#160;</FONT></P></TD><TD valign='top' style='width:46.16%'><P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>Nidal Z. Zayed</FONT></P></TD></TR>
<TR><TD valign='top' style='width:49.96%'><P style='font:11pt Calibri;margin:0'><FONT style='font:1pt Times New Roman'>&#160;</FONT></P></TD><TD valign='top' style='width:3.88%'><P style='font:11pt Calibri;margin:0'><FONT style='font:1pt Times New Roman'>&#160;</FONT></P></TD><TD valign='top' style='width:46.16%'><P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>President and Chief Executive Officer</FONT></P></TD></TR>
<TR><TD valign='top' style='width:49.96%'><P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>&#160;</FONT></P></TD><TD valign='top' style='width:3.88%'><P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>&#160;</FONT></P></TD><TD valign='top' style='width:46.16%'><P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>&#160;</FONT></P></TD></TR>
<TR><TD valign='top' style='width:49.96%'><P style='font:11pt Calibri;margin:0'><FONT style='font:1pt Times New Roman'>&#160;</FONT></P></TD><TD valign='top' style='width:3.88%'><P style='font:11pt Calibri;margin:0'><font style='font-size:12pt;'>&nbsp;</font></P></TD><TD valign='top' style='width:46.16%'><P style='font:11pt Calibri;margin:0'><font style='font-size:12pt;'>&nbsp;</font></P></TD></TR>
<TR><TD valign='top' style='width:49.96%'><P style='font:11pt Calibri;margin:0'><FONT style='font:1pt Times New Roman'>&#160;</FONT></P></TD><TD valign='top' style='width:3.88%'><P style='font:11pt Calibri;margin:0'><font style='font-size:12pt;'>&nbsp;</font></P></TD><TD valign='top' style='width:46.16%'><P style='font:11pt Calibri;margin:0'><font style='font-size:12pt;'>&nbsp;</font></P></TD></TR>
<TR><TD valign='top' style='width:49.96%'><P style='font:11pt Calibri;margin:0'><FONT style='font:1pt Times New Roman'>&#160;</FONT></P></TD><TD valign='top' style='width:3.88%'><P style='font:11pt Calibri;margin:0'><font style='font-size:12pt;'>&nbsp;</font></P></TD><TD valign='top' style='width:46.16%'><P style='font:11pt Calibri;margin:0'><font style='font-size:12pt;'>&nbsp;</font></P></TD></TR>
<TR><TD valign='top' style='width:49.96%'><P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>&#160;</FONT></P></TD><TD valign='top' style='width:3.88%'><P style='font:11pt Calibri;margin:0'><font style='font-size:12pt;'>&nbsp;</font></P></TD><TD valign='top' style='width:46.16%'><P style='font:11pt Calibri;margin:0'><font style='font-size:12pt;'>&nbsp;</font></P></TD></TR>
<TR><TD valign='top' style='width:49.96%'><P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>&#160;</FONT></P></TD><TD valign='top' style='width:3.88%'><P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>&#160;</FONT></P></TD><TD valign='top' style='width:46.16%'><P style='font:11pt Calibri;margin:0'><font style='font-size:12pt;'>&nbsp;</font></P></TD></TR>
<TR><TD valign='top' style='width:49.96%'><P style='font:11pt Calibri;margin:0'><FONT style='font:1pt Times New Roman'>&#160;</FONT></P></TD><TD valign='top' style='width:3.88%'><P style='font:11pt Calibri;margin:0'><font style='font-size:12pt;'>&nbsp;</font></P></TD><TD valign='top' style='width:46.16%'><P style='font:11pt Calibri;margin:0'><font style='font-size:12pt;'>&nbsp;</font></P></TD></TR>
<TR><TD valign='top' style='width:49.96%'><P style='font:11pt Calibri;margin:0'><FONT style='font:1pt Times New Roman'>&#160;</FONT></P></TD><TD valign='top' style='width:3.88%'><P style='font:11pt Calibri;margin:0'><font style='font-size:12pt;'>&nbsp;</font></P></TD><TD valign='top' style='width:46.16%'><P style='font:11pt Calibri;margin:0'><font style='font-size:12pt;'>&nbsp;</font></P></TD></TR>
<TR><TD valign='top' style='width:49.96%'><P style='font:11pt Calibri;margin:0'><FONT style='font:1pt Times New Roman'>&#160;</FONT></P></TD><TD valign='top' style='width:3.88%'><P style='font:11pt Calibri;margin:0'><font style='font-size:12pt;'>&nbsp;</font></P></TD><TD valign='top' style='width:46.16%'><P style='font:11pt Calibri;margin:0'><font style='font-size:12pt;'>&nbsp;</font></P></TD></TR>
<TR><TD valign='top' style='width:49.96%'><P style='font:11pt Calibri;margin:0'><font style='font-size:10pt;'>&nbsp;</font></P><P style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>Dated:</FONT><FONT style='font:10pt Times New Roman;color:#FF0000'> </FONT><FONT style='font:10pt Times New Roman'>June 16, 2015</FONT></P></TD><TD valign='top' style='width:3.88%'><P style='font:11pt Calibri;margin:0'><font style='font-size:12pt;'>&nbsp;</font></P></TD><TD valign='top' style='width:46.16%'><P style='font:11pt Calibri;margin:0'><font style='font-size:12pt;'>&nbsp;</font></P></TD></TR>
</TABLE><P align=center style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman;color:#000000'>&#160;</FONT></P>
<P align=center style='font:11pt Calibri;margin:0'><FONT style='font:10pt Times New Roman'>4</FONT></P>
<P style='font:11pt Calibri;margin-top:0pt;margin-bottom:10pt'>&nbsp;</P>
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Form 8-K
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 10, 2015
PERNIX GROUP, INC.
(Exact Name of Registrant as Specified in Charter)
Delaware
333-92445
36-4025775
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)
(I.R.S. Employer
Identification No.)
151 E. 22nd Street
Lombard, Illinois
60148
(Address of Principal Executive Offices)
(Zip Code)
(630) 620-4787
(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 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
The information set forth in Item 3.02 below is hereby incorporated by reference in this Item 1.01.
ITEM 3.02 UNREGISTERED SALES OF EQUITY SECURITIES
Creation of Series C Preferred Stock
On June 10, 2015, Pernix Group, Inc. (the "Company") filed a Certificate of Designations of Series C Preferred Stock (the "Certificate of Designations") with the Delaware Secretary of State, designating 4,000,000 shares of the Company's undesignated preferred stock, par value $0.01 per share, as Series C Cumulative Convertible Preferred Stock (the "Series C Preferred Stock").  A copy of the Certificate of Designations is attached to this Current Report on Form 8-K as Exhibit 3.1, and the description of the Series C Preferred Stock contained herein is a summary and is qualified in its entirety by reference to the full text of the Certificate of Designations.
The Company at its option, may convert each share of Series C Preferred Stock into one share of the Company's common stock upon 30 days' written notice to the holder of such Series C Preferred Stock and subject to adjustment for certain antidilution provisions set forth in the Certificate of Designations.  Dividends will cease to accrue on shares of Series C Preferred Stock on the date of any such conversion.
The Series C Preferred Stock will rank, with respect to dividend rights and certain rights on liquidation, winding up and dissolution, (a) senior to the Company's common stock, (b) on a parity with the Company's Series A Preferred Stock and Series B Preferred Stock and (c) junior to each other class or series of stock established after the date of the Certificate of Designations if the terms of such other class or series provide that such other class or series is senior to the Series C Preferred Stock.
From and after July 1, 2015, the holders of outstanding shares of Series C Preferred Stock will be entitled to receive, when, as and if declared by the Board of Directors of the Company and to the extent permitted by the Delaware General Corporation Law, before any dividend or other distribution is declared or paid with respect to outstanding junior securities of the Company, cumulative dividends payable bi-annually in arrears on January 1 and July 1 in each year (each of such dates is referred to herein as a "Dividend Payment Date" and the period between consecutive Dividend Payment Dates is referred to herein as a "Dividend Period") commencing July 1, 2016.
From July 1, 2015 through July 1, 2016, all dividends accrued will be paid to the holders of Series C Preferred Stock in the form of the Company's common stock valued solely for these purposes equal to US$5.00 per share. Thereafter, such dividends will be payable to the holders of Series C Preferred Stock in cash.  The dividend rate on outstanding shares of Series C Preferred Stock will be $.80 per share per annum, computed on the basis of a 365-day year and the actual number of days elapsed in each Dividend Period. In the event of a dividend paid with the Company's common stock, the total dividend amount owed to the holders of Series C Preferred Stock will be divided by the US$5.00 per share of common stock rate to establish the number of shares of the Company's common stock owed as a dividend from July 1, 2015 through July 1, 2016.
Series C Preferred Stock Offering
On June 10, 2015, the Company entered into Series C Cumulative, Convertible Preferred Stock Purchase Agreements (the "SPAs") with each of Ernil Continental S.A., BVI ("Ernil") and Halbarad Group, Ltd., BVI ("Halbarad"), the two largest shareholders of the Company.  Copies of each SPA are attached to this Current Report on Form 8-K as Exhibits 10.1 and 10.2, respectively, and the descriptions of certain terms of the SPAs contained herein are summaries and are qualified in their entirety by reference to the full text of the SPAs.
Pursuant to the terms of the SPAs, the Company has agreed to issue 550,000 shares and 450,000 shares, respectively, of Series C Preferred Stock to each of Ernil and Halbarad at a purchase price per share of $10.00 for total cash investments by Ernil and Halbarad of $5,500,000 and $4,500,000, respectively.
There were no underwriting discounts or commissions incurred in the offering of Series C Preferred Stock to Ernil and Halbarad.  The Company expects to use the proceeds of the offering of Series C Preferred Stock to fund the acquisition of KBR Building Group, LLC for $22 million and the negative working capital target of negative ($6.0) million associated with the transaction.
The issuance and sale of the Series C Preferred Stock to Ernil and Halbarad is exempt from registration under the Securities Act of 1933, as amended (the "Securities Act"), pursuant to Section 4(a)(2) and Regulation D of the Securities Act.  The Company has not engaged in general solicitation or advertising with regard to the issuance and sale of the Series C Preferred Stock and has not offered securities to the public in connection with such issuance and sale.
ITEM 3.03 MATERIAL MODIFICATION TO RIGHTS OF SECURITY HOLDERS
The information set forth in Item 3.02 above is hereby incorporated by reference in this Item 3.03.
ITEM 5.03 AMENDMENTS TO ARTICLES OF INCORPORATION OR BYLAWS; CHANGE IN FISCAL YEAR
The information set forth in Item 3.02 above is hereby incorporated by reference in this Item 5.03.
2
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits.
Exhibit
No.
Description
3.1
10.1
10.2
Certificate of Designations Series C Preferred Stock, dated June 10, 2015
Series C Cumulative, Convertible Preferred Stock Purchase Agreement, dated June 10, 2015, by and between Pernix Group, Inc. and Ernil Continental S.A., BVI
Series C Cumulative, Convertible Preferred Stock Purchase Agreement, dated June 10, 2015, by and between Pernix Group, Inc. and Halbarad Group, Ltd., BVI
3
SIGNATURE
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.
PERNIX GROUP, INC.
By:
/s/ Nidal Z. Zayed
Nidal Z. Zayed
President and Chief Executive Officer
Dated:
June 16, 2015
4