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 20, 1999
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PRINCETON VIDEO IMAGE, INC.
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(Exact Name of Registrant as Specified in Charter)
New Jersey 000-23415 22-3062052
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(State or Other Juris- (Commission (I.R.S. Employer
diction of Incorporation) File Number) Identification No.)
15 Princess Road, Lawrenceville, New Jersey 08648
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (609) 912-9400
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(Former Name or Former Address, If Changed Since Last Report)
Item 5. Other Events.
On October 22, 1999 the Registrant issued the following
press release relating to a private placement of the Registrant's
securities on October 20, 1999:
"PRINCETON VIDEO IMAGE INC. COMPLETES
PRIVATE PLACEMENT OF COMMON STOCK
"LAWRENCEVILLE, N.J.--Oct. 22, 1999--Princeton Video Image,
Inc. (NASDAQ: PVII; http://www.pvi-inc.com) announced that the
Company has completed a private placement of approximately 1.6
million shares of its common stock at a purchase price of $5.50
per share.
"Proceeds from the transaction will allow the Company to
continue to execute its business plan of growth and expansion in
the virtual advertising marketplace.
"The securities offered in this transaction have not been
registered under the Securities Act of 1933 and may not be
offered or sold in the United States absent registration under
the Act or an applicable exemption therefrom. This communication
shall not constitute an offer to sell or the solicitation of an
offer to buy Common Stock of Princeton Video Image, Inc.
"Princeton Video Image, Inc. has developed and is marketing
a real-time video insertion system that, through patented pattern
recognition technology, places computer-generated electronic
images into television broadcasts of sporting events as well as
other programming. These electronic images range from simple
corporate names and logos to sophisticated 3-D images and
animated effects. In virtual advertising, broadcasters insert
advertising messages into telecasts so that the ads appear as
part of the live stadium scene. PVI has provided video insertion
services for over 1,200 live telecasts worldwide, including
broadcasts of Major League Baseball, National League Football,
professional soccer, motorsports, and other live events. The
Company is headquartered in Lawrenceville, New Jersey, with
offices in New York City and Brussels, with licensees' offices in
Mexico City, Johannesburg and Madrid.
"Any statements contained in this press release that relate
to future plans, events or performance are forward-looking
statements that involve risks and uncertainties including, but
not limited to, those relating to market acceptance, dependence
on strategic partners and third party sales, contractual
restraints on use of PVI's technology, a rapidly changing
commercial and technological environment, competition, possible
adverse regulations, need for additional financing, intellectual
property rights and litigation, and other risks identified in
PVI's filings with the Securities and Exchange Commission. Actual
results, events or performance may differ materially. PVI
undertakes no obligation to publicly release the result of any
revisions to these forward-looking statements that may be made to
reflect events or circumstances after the date hereof to reflect
the occurrence of unanticipated events.
# # #"
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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.
Princeton Video Image, Inc.
By: /s/ Brown F Williams
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Brown F Williams,
Chairman of the Board
Date: October 29, 1999
