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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): October 13, 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
The Company has been notified by the Nasdaq Stock Market ("Nasdaq") that
the Company is not in compliance with the net tangible assets/market
capitalization/net income requirement or the minimum bid price requirement for
continued listing of its common stock on the Nasdaq SmallCap Market, and that
the Nasdaq staff has determined to delist the Company's common stock from the
Nasdaq SmallCap Market as of the close of business on Thursday, October 21,
1999. Nasdaq's continued listing requirements require that an issuer satisfy at
least one of the following listing standards: (a) net tangible assets of at
least $2,000,000, (b) a market capitalization of $35,000,000 or (c) net income
of $500,000. Nasdaq's continued listing requirements also require that issuers
maintain a minimum bid price of at least $1.
The Company intends to request an appeal of the staff's decision in the
form of an oral hearing before a Nasdaq Listing Qualifications Panel, which
request will stay the delisting pending the decision of the panel. There can be
no assurance that the hearing will result in continued listing of the common
stock on the Nasdaq SmallCap Market. If unsuccessful, the Company currently
expects that its common stock will be quoted on the OTC Bulletin Board.
Delisting of the common stock from 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.
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: October 14, 1999
EINSTEIN/NOAH BAGEL CORP.
By: /s/ Paul A. Strasen
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Paul A. Strasen
Senior Vice President
