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SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. )
Filed by the Registrant [X]
Filed by a Party other than the Registrant [_]
Check the appropriate box:
[_] Preliminary Proxy Statement [_] Confidential, for Use of the
Commission Only (as permitted by
Rule 14a-6(e)(2))
[_] Definitive Proxy Statement
[X] Definitive Additional Materials
[_] Soliciting Material Pursuant to (S)240.14a-11(c) or (S)240.14a-12
NEXAR TECHNOLOGIES, INC.
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(Name of Registrant as Specified In Its Charter)
NEXAR TECHNOLOGIES, INC.
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(Name of Person(s) Filing Proxy Statement)
Payment of Filing Fee (check the appropriate box):
[X] No fee required
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filing fee is calculated and state how it was determined):
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0-11(a)(2) and identify the filing for which the offsetting fee was paid
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or the Form or Schedule and the date of its filing.
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NEXAR TECHNOLOGIES, INC.
257 TURNPIKE ROAD
SOUTHBOROUGH, MASSACHUSETTS 01772
(508) 485-7900
NOTICE OF POSTPONEMENT
OF ANNUAL MEETING OF STOCKHOLDERS
JUNE 22, 1998
The Annual Meeting of Stockholders of Nexar Technologies, Inc. (the
"Company") originally scheduled to be held on Monday, June 8, 1998 at 11:00
a.m., at the offices of McDermott, Will & Emery, 16th Floor, 75 State Street,
Boston, Massachusetts, has been postponed to Monday, June 22, 1998 at 11:00 a.m.
at the same location for the same purposes as set forth in the Notice of Meeting
dated April 27, 1998 and mailed to stockholders commencing on April 30, 1998
(the "Notice"), which are:
1. To elect one director for a three-year term.
2. To approve (a) issuances of shares of common stock of the Company
upon coversion of shares of the Company's Series B Convertible
Preferred Stock (all of which could be converted into common stock
pursuant to a formula which includes a lower-than-market
conversion price for the common stock) and upon the exercise of
certain warrants, such approval being required for such issuances
in the aggregate to exceed 2,001,810 shares of common stock, or
approximately 20% of the outstanding common stock of the Company;
and (b) the private placement sales of such preferred stock and
such warrants.
3. To ratify the Board of Director's selection of BDO Seidman, LLP as
the Company's independent auditors for 1998.
4. To transact such other business as may properly come before the
meeting and any adjournments thereof.
Stockholders of the Company are also hereby notified that Buster C.
Glosson, the nominee for election as a director as set forth in the Proxy
Statement mailed with the Notice of the meeting, has resigned as a director of
the Company and withdrawn as a nominee for election as a director. The Board of
Directors has nominated Steven Georgiev, an existing director of the Company, in
substitution for Mr. Glosson as nominee, and as provided for in the Proxy
Statement, proxies voted for Mr. Glosson will be voted in favor of Mr. Georgiev
unless such proxies are revoked in the manner set forth in the Proxy Statement.
Stockholders of record at the close of business on April 23, 1998 will be
entitled to notice of and to vote at the meeting and any adjournments thereof.
By Order of the Board of Directors,
/s/ David A. Cifrino
David A. Cifrino
Secretary
Dated: June 1, 1998
