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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
Commission File Number 333-12977
(Check one)
[ X ] Form 10-K and Form 10-KSB [ ] Form 11-K
[ ] Form 20-F [ ] Form 10-Q and Form 10-QSB Form N-SAR
For period ended: December 31, 1997
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[ ] Transition Report on Form 10-K and Form 10-KSB
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q and Form 10-QSB
[ ] Transition Report on Form N-SAR
For the transition period ended:
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Nothing in this Form shall be construed to imply that the Commission has
verified any information contained herein.
If the notification relates to a portion of the filing checked above, identify
the item(s) to which the notification relates:
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PART I
REGISTRANT INFORMATION
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Full Name of Registrant: IMPSAT Corporation
IMPSAT S.A.
Former Name if Applicable: N/A
Address of principal executive Alferez Pareja 256 (1107)
office (Street and Number): Buenos Aires, Argentina
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PART II
RULE 12B-25(b) AND (c)
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If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check Box if appropriate)
[X] (a) The reasons described in reasonable detail in
Part III of this form could not be eliminated
without unreasonable effort or expense;
[X] (b) The subject annual report or semi-annual report,
transition report on Forms 10-K, 10-KSB, 20-F, 11-K
or Form N-SAR, or portion thereof will be filed on
or before the fifteenth calendar day following the
prescribed due date; or the subject quarterly report
or transition report on Form 10-Q, 10-QSB, or
portion thereof will be filed on or before the fifth
calendar day following the prescribed due date; and
[ ] (c) the accountant's statement or other exhibit
required by Rule 12b-25(c) has been attached if
applicable
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PART III
NARRATIVE
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State below in reasonable detail the reasons why the Form 10-K, 10-KSB, 11-K,
20-F, 10-Q, 10-QSB, N-SAR or the transition report portion thereof, could not be
filed within the prescribed time period. (Attach extra sheets if needed).
Timely filing of the registrants' Form 10-K was precluded because
of the closing in March 1998 of certain transactions, whereby
IMPSAT Corporation redeemed 25% of its outstanding common stock,
previously held by STET International Netherlands NV, with the
proceeds of a substantially concurrent issuance and sale of $125
million of the Company's Series A Convertible Preferred Stock
(the "Preferred Stock"). The Preferred Stock were offered and
sold to Princes Gate Investors II ("Princes Gate") and Morgan
Stanley Global Emerging Markets Private Investment Fund
("MSGEM"), two private equity funds managed by Morgan Stanley
Dean Witter, Discover & Co., and to certain other purchasers
affiliated with Princes Gate and MSGEM, pursuant to an applicable
exemption from the registration requirements of the Securities
Act of 1933, as amended.
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PART IV
OTHER INFORMATION
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(1) Name and telephone number of person to contact in regard to this
notification.
Name: Neil M. Goodman
Area code and telephone number:(202) 942-5191
(2) Have all other periodic reports required under Section 13 or 15(d) of the
Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of
1940 during the preceding 12 months (or for such shorter period that the
registrants were required to file such report(s)) been filed? If the answer is
no, identify report(s).
[ X ] Yes [ ] No
(3) Is it anticipated that any significant change in results of operations from
the corresponding period for the last fiscal year will be reflected by the
earnings statements to be included in the subject report or portion thereof?
[ ] Yes [ X ] No
If so, attach an explanation of the anticipated change, both narratively and
quantitatively, and, if appropriate, state the reasons why a reasonable estimate
of the results can not be made.
IMPSAT Corporation
IMPSAT S.A.
(Name Of Registrant As Specified In Charter)
have caused this notification to be signed on their behalf by the undersigned
thereunto duly authorized.
Date March 30, 1998
By /s/ Guillermo Jofre
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Guillermo Jofre
Chief Financial Officer
IMPSAT Corporation
Finance Manager
IMPSAT S.A.
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