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 3, 1999
---------------------------
LOCKHART CARIBBEAN CORPORATION
-------------------------------------
(Exact Name of Registrant as Specified in its Charter)
U.S. Virgin Islands
-------------------------------------
(State or Other Jurisdiction of Incorporation or Organization)
333-35105 65-0491618
------------- ---------------
(Commission File Number) (I.R.S. Employer Identification Number)
No. 44 Estate Thomas
St. Thomas, U.S. Virgin Islands 00802
--------------------------------- -----------
(Address of Principal Executive Officers) (Zip Code)
Registrant's telephone number, including area code: (340) 776-1900
---------------------------------------------------------------------
<PAGE>
Item 5. Other Events.
In August 1998, we suspended our best efforts offering of units consisting
of one share of Class A common stock and one warrant to purchase one-tenth of a
share of Class A common stock. Due to adverse market conditions for initial
public offerings generally and the under- performance of the real estate sector
of the market in particular, as well as other factors, we are terminating our
offering.
Our prospectus indicates that the offering of the units would terminate no
later than February 4, 1999. In order to sell any units, we had to receive
subscriptions totaling $7.5 million. We had not received the requisite minimum
subscriptions when we suspended the offering in August. We will now promptly
return all subscription funds held in escrow, including interest earned on such
funds.
<PAGE>
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.
Dated: February 3, 1999 LOCKHART CARIBBEAN CORPORATION
By: /s/ John P. deJongh, Jr.
------------------------
John P. deJongh, Jr.
President and Chief Operating Officer
