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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): March 8, 1999
GLOBAL IMAGING SYSTEMS, INC.
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(Exact name of registrant as specified in its charter)
Delaware 000-24373 59-3247752
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(State or other jurisdiction of (Commission File (I.R.S. Employer
incorporation or organization) Number) Identification No.)
3820 Northdale Boulevard, Suite 200A, Tampa, Florida 33624
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (813) 960-5508
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(Former name or address, if changed since last report)
Exhibit Index is on page 4.
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ITEM 5. OTHER EVENTS.
On March 8, 1999, Global Imaging Systems, Inc. announced the completion of
its offering of $100 million in aggregate principal amount of senior
subordinated notes due 2007. A copy of the press release is filed as an exhibit
to this report.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a) Financial Statements.
None
(b) Pro Forma Financial Information.
None
(c) Exhibits.
Exhibit Number Description
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99.1 Press Release of March 8, 1999
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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.
Date: March 15, 1999
GLOBAL IMAGING SYSTEMS, INC.
/s/ Raymond Schilling
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Raymond Schilling
Vice President, Chief Financial Officer,
Secretary and Treasurer
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EXHIBIT INDEX
Exhibit Number Description
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99.1 Press Release of March 8, 1999
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EXHIBIT 99.1
FOR IMMEDIATE RELEASE SYMBOL: GISX
Monday, March 8, 1999 TRADED: Nasdaq
GLOBAL IMAGING SYSTEMS COMPLETES SENIOR SUBORDINATED NOTE FINANCING
TAMPA, Fla., Mar. 8 -- Global Imaging Systems, Inc. announced today that it
has completed its offering of $100 million aggregate principal amount of 10.75
percent senior subordinated notes due 2007. The notes, priced at par, were sold
in a private transaction.
Tom Johnson, President and Chief Executive Officer, said, "We elected to
hold this financing to $100 million in the face of the current bond market's
escalating interest rates. If the need for additional financing arises before
the capital markets turn more favorable, we will explore expanding our revolving
bank lines or other lower cost sources of funds." He said Global plans to use
the net proceeds from the sale of the notes to repay existing indebtedness.
The notes were offered for sale in private placements under exemptions from
the registration requirements of the Securities Act of 1933. The notes will not
be, and have not been, registered under the Securities Act and may not be
offered or sold in the United States absent registration or an applicable
exemption from the registration requirements of the Securities Act.
This news release contains certain forward-looking statements, including
statements relating to opportunities in and performance of the imaging industry,
the timing, number and completion of proposed acquisitions by the company,
future product and service offerings, and future revenues projections. The
company's actual results could differ materially from those set forth in such
statements. Factors that might cause the company's results to differ materially
from the results described in this release are detailed in the company's
registration statement relating to its initial public offering filed with the
Securities and Exchange Commission.
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FOR FURTHER INFO: Tom Johnson, President and Chief Executive Officer, or
Ray Schilling, Vice President and Chief Financial Officer
Global Imaging Systems, Inc.
813/960-5508
-or-
Investor Relations Consultants, Inc.
727/781-5577
E-mail: [email protected]
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