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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): December 2, 1999
EINSTEIN/NOAH BAGEL CORP.
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(Exact name of registrant as specified in its charter)
Delaware 0-21097 84-1294908
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(State or other (Commission (IRS Employer
jurisdiction of File No.) Identification No.)
incorporation)
14103 Denver West Parkway, P.O. Box 4086, Golden, Colorado 80401
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(Address of principal executive offices)
(303) 215-9300
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(Registrant's telephone number, including area code)
Not applicable
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(Former name or former address, if changes since last report)
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ITEM 5. OTHER EVENTS
On December 2, 1999, the Company announced that it had been granted an
extension of time to meet certain Nasdaq listing requirements. Attached to this
Current Report on Form 8-K as Exhibit 99.1 is a copy of the Company's related
press release dated December 2, 1999.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Exhibit 99.1 Press release of the Company dated December 2, 1999.
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.
Dated: December 2, 1999
EINSTEIN/NOAH BAGEL CORP.
By: /s/ Paul A. Strasen
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Paul A. Strasen
Senior Vice President
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EXHIBIT 99.1
[LETTERHEAD OF EINSTEIN/NOAH BAGEL CORP. APPEARS HERE]
Analyst Contact: Nancy Shipp
303-216-3738
EINSTEIN/NOAH BAGEL CORP. GRANTED EXTENSION TO MEET NASDAQ
LISTING REQUIREMENTS
GOLDEN, Colo., December 2, 1999 - Einstein/Noah Bagel Corp. (Nasdaq: ENBX) today
announced that the Company's common stock will continue to be listed on the
Nasdaq SmallCap Market under an exception from the net tangible assets/market
capitalization/net income and bid price requirements.
While Einstein/Noah Bagel Corp. failed to meet these requirements as of the end
of its third fiscal quarter on October 3, 1999 and had been notified by the
Nasdaq Stock Market that its common stock would be delisted, the Company was
granted a temporary exception from these requirements until March 3, 2000.
Under the terms of the exception, the Company's common stock will remain listed
on the Nasdaq SmallCap Market if, among other conditions, the Company completes
a balance sheet restructuring prior to March 3, 2000, and, as a result,
satisfies the requirements for initial listing of the common stock.
In the event the Company's common stock should cease to be listed on the Nasdaq
SmallCap Market, the Company currently expects that the common stock would be
quoted on the OTC Bulletin Board. Delisting of the common stock from the Nasdaq
could have a material adverse effect on the market price of, and the efficiency
of the trading market for, the Company's common stock.
For the duration of the exception period, the Company's Nasdaq symbol will be
ENBXC.
Currently, there are 538 ENBC retail bagel stores in 29 states and the District
of Columbia operating under the Einstein Bros.(R) Bagels and Noah's New York
Bagels(R) brand names. Einstein Bros. and Noah's stores are unique bagel cafes
and bakeries featuring fresh-baked bagels, a variety of cream cheese spreads,
specialty coffee drinks, soups, sandwiches and salads.
Certain statements in this release constitute "forward-looking statements" and
involve known and unknown risks, uncertainties, and other factors which may
cause the actual results, performance or achievements of the Company to be
materially different from any future results, performance or achievements
expressed or implied by such forward looking statements. Such factors include,
among others, the successful restructuring of the Company's balance sheet and
other factors referenced in the Company's filings with the Securities and
Exchange Commission.
14103 Denver West Parkway
Golden, CO 80401
303-215-9300
Fax 303-216-3403
