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UNITED STATES
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): July 2, 1999
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Univec, Inc.
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(Exact name of registrant as specified in its charter)
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Delaware 0-22413 11-313455
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(State or Other Jurisdiction (Commission File Number) (IRS Employer Ident. No.)
of Incorporation)
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22 Dubon Court, Farmingdale, New York, 11735
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(Address of Principal Executive Offices) (Zip Code)
(516) 777-2000
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Registrant's telephone number, including area code
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Item 5. Other Events.
On July 2, 1999, the Registrant announced that it was delisted from the
Nasdaq Small Cap Market in a press release, which is attached as Exhibit 99.1
and incorporated by reference herein.
(c) Exhibits.
99.1 Press Release.
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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 thereunto duly authorized.
UNIVEC, INC.
(Registrant)
Date: July 8, 1999 By:
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Joel Schoenfeld
Chief Executive Officer
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EXHIBIT INDEX
Exhibit No. Description
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99.1 Press Release.
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EXHIBIT 99.1
(BW)(NY-UNIVEC)(UNVC) Univec Makes Announcement
Business & Medical/Health Editors
FARMINGDALE, N.Y. -- (BUSINESS WIRE) -- July 2, 1999 -- UNIVEC, Inc. (OTC:
"UNVC") announced that it was delisted from the Nasdaq SmallCap Market effective
with the close of business June 30, 1999.
Although the Company believed it established its compliance with the
continued listing requirements, a Nasdaq hearing panel was of the opinion that
the Company failed to present a definitive plan which would enable it to sustain
compliance over the long term. The Company intends to appeal the panel's
decision to the Nasdaq Review Council. Trading in the Company's securities will
now be conducted in the over-the-counter market in the so-called "pink sheets"
or, on application by broker-dealers, in the NASD's Electronic Bulletin Board.
Joel Schoenfeld, UNIVEC's Chief Executive Officer, said, "This is obviously
disappointing to us, coming at a time when we appear to be at a turning point
with significant increases in orders and the Company having recently arranged
for additional working capital."
UNIVEC develops, manufactures, licenses and markets safety auto-destruct
hypodermic syringes, designed to protect healthcare workers against needle stick
injuries and patients against cross-infection resulting from reused needles and
syringes.
This press release contains Forward-Looking Statements. Statements in this
news release looking forward in time are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. Investors
are cautioned that forward-looking statements involve risks and uncertainties.
The Company's actual results could differ materially from those anticipated in
the forward-looking statements as a result of certain factors.
CONTACT: UNIVEC, Inc., Farmingdale
Corporate Media & Investor Relations Officer
David Gordon, 516/777-2000
