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):
February 9, 2000
Optika Inc.
- ---------------------------------------------------------------------
(Exact Name of Registrant as Specified in its Charter)
Delaware
- ---------------------------------------------------------------------
(State or Other Jurisdiction of Incorporation)
0-28672 95-4154552
(Commission File Number) (I.R.S. Employer Identification No.)
7450 Campus Drive, Suite 200, Colorado Springs, CO80920
(Address of Principal Executive Offices) (Zip Code)
(719) 548-9800
- ---------------------------------------------------------------------
(Registrant's Telephone Number, Including Area Code)
- ---------------------------------------------------------------------
(Former Name, Changed Since Last Report)
<PAGE>
Item 5. Other Events
On February 9, 2000 Optika Inc. announced the signing of a definitive
agreement for a $15 million investment from Thomas Weisel Capital
Partners L.P. Under the terms of the investment, Thomas Weisel Capital
Partners L.P. will purchase $15 million of convertible preferred stock
and warrants. The preferred stock was priced at a 5% premium over the
average of the closing prices between the dates of January 31st to
February 4, 2000. Warrants, representing approximately 2.81% of the
fully diluted shares outstanding, were issued at a premium of 15% over
the average of the closing prices between the dates of January 31st to
February 4, 2000. The transaction is scheduled to close on February 23,
2000. A copy of this press release is included as an exhibit.
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.
Optika Inc.
(Registrant)
By: /s/ Steven M. Johnson
--------------------------
Name: Steven M. Johnson
Title: Chief Financial Officer
Dated: February 11, 2000
Item 7. Financial Statements and Exhibits
(c) Exhibits
99.1 Press Release issued by Optika Inc., February 9, 2000
N e w s R e l e a s e
Contacts: Optika Inc. Stapleton Communications Inc.
Steve Johnson Bob Okunski
Chief Financial Officer 650.470.4239
719.548.9800 [email protected]
Optika Inc. Announces $15 Million Investment from Thomas Weisel Capital Partners
Investment to Be Used to Roll-Out B2B Trading Partner Resolution Networks
Colorado Springs, CO - February 9, 2000 - Optika Inc. (Nasdaq:OPTK), a
leading provider of enterprise software and Internet solutions, today
announced it has signed a definitive agreement for a $15 million investment
from Thomas Weisel Capital Partners L.P., a private equity fund managed by
Thomas Weisel Partners, to increase market presence and aggressively expand
its sales force as the company further capitalizes on its leadership position
in the formation of Trading Partner Resolution Networks (TM) for
business-to-business transactions. Trading Partner Resolution Networks are
interactive communities that help businesses and their trading partners to
efficiently resolve transaction issues over the Web. Optika also announced
today in separate releases its entry into the emerging B2B Web resolution
marketplace and its new alliance with leading ASP and Web hosting company
NaviSite, Inc. (Nasdaq: NAVI).
Under the terms of the investment, Thomas Weisel Capital Partners L.P. will
purchase $15 million of convertible preferred stock and warrants. Alan
Menkes, Partner and Co-Director of Private Equity at Thomas Weisel Partners,
will also join the company's board of directors.
With Trading Partner Resolution Networks, organizations can now link business
partners together in an e-process that delivers relevant transaction data and
supporting documentation, and provides the means to quickly resolve
transaction issues-- all through a standard Web browser. Benefits include
reducing operating costs, building trading partner loyalty, and improving
customer and vendor service.
"Optika is a premier example of the type of next-generation company
transforming today's economy that corresponds with the Thomas Weisel Capital
Partners' investment strategy," said Alan Menkes. "We share Optika's vision
of the importance of B2B transaction resolution and feel that with their new
strategic direction, Optika is well-positioned to take a leadership role in
providing this type of technology to the business-to-business marketplace."
"Since we introduced Optika eMedia over a year ago, our vision has been to
use the Internet to help companies improve their productivity and reduce
their transaction costs by managing numerous types of transaction
information, both paper and electronic," said Mark K. Ruport, president, CEO
and chairman of Optika. "With our entry into the B2B Web resolution networks
market, we are providing our customers with a comprehensive platform for
decreasing B2B transaction cycle time and increasing overall accuracy. Also,
with our recently announced agreement with NaviSite to deliver our
applications via an ASP model, we will begin to dramatically impact solution
delivery to our customers as we position the company for future growth."
About Thomas Weisel Partners
Thomas Weisel Partners is a research-driven merchant bank providing
investment banking, institutional brokerage, private client services and
private and public equity investing focused on next generation internet and
internet infrastructure companies. In its inaugural year, the firm completed
106 transactions worth $23 billion, including 54 IPOs, 27 follow-ons, 14 M&A,
and 11 private placements. In addition, Thomas Weisel Partners raised a $1.3
billion private equity fund. The team at Thomas Weisel Partners has 450
employees, including 66 partners, and is headquartered in San Francisco with
additional offices in New York, Boston and London. For more information about
the firm, please visit our website at http://www.tweisel.com.
About Optika
As a leading provider of enterprise Internet and software solutions, Optika
Inc. (Nasdaq: OPTK) takes a pioneering approach to e-business by offering
solutions which unite existing business practices with e-business. Trading
Partner Resolution Networks(TM) are interactive communities that help businesses
and their trading partners resolve B2B transaction issues over the Web.
Optika eMedia(TM), the company's flagship product, has been acclaimed by
DocuLabs and InformationWeek as "the most impressive approach to the
supply-chain extranet we've seen." Trading Partner Resolution Networks will
integrate interactive resolution technologies with powerful image/document
management, enterprise report management, workflow, and leading XML, EDI and
ERP technologies. Optika, headquartered in Colorado Springs, Colorado, has
been named one of the Top 250 Technology Companies by Software Magazine. For
more information about Optika, contact the company at 719.548.9800 or visit
www.optika.com.
Except for historical information contained herein, the matters discussed in
this news release may contain "forward-looking statements" that involve risks
and uncertainties. Factors that could cause actual results to differ
materially include, but are not limited to, adoption of new technology by
Optika's customers, general business conditions in the software industry,
Optika's relationships with its partners, availability of competing products
and other risks detailed from time to time in the company's periodic filings
with the Securities and Exchange Commission, including Optika's annual report
on Form 10-K.
# # #
