U.S. 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
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ELITE PHARMACEUTICALS, INC.
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(Exact name of registrant as specified in its charter)
333-45241 22-3542636
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(Commission File Number) (I.R.S. Employer Identification No.)
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165 Ludlow Avenue, Northvale, New Jersey 07647
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(Address of principal executive office) (Zip Code)
(201) 750-2646
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Registrant's telephone number, including area code
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(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events
The Company recently concluded the issuance of $3,000,000 in tax exempt bonds.
The information set forth in the press release issued by Elite Pharmaceuticals, Inc. attached hereto as
Exhibit 99.1, is incorporated herein by reference.
Item 7. Financial Statements, Pro Forma Financial Statements and Exhibits
(c) Exhibits
99.1 Press release of Elite Pharmaceuticals, Inc. dated September 23, 1999.
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 hereunto duly authorized.
ELITE PHARMACEUTICALS, INC.
By:
Mark I. Gittelman, Treasurer
Date: September 27, 1999
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EXHIBIT INDEX
Item No.
99.1 Press release of Elite Pharmaceuticals, Inc. dated September 22, 1999.
3
FOR IMMEDIATE RELEASE
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ELITE PHARMACEUTICALS COMPLETES $3 MILLION BOND PLACEMENT
NORTHVALE, N.J. Sept. 23, 1999. /PRNewswire/ -- Elite Pharmaceuticals, Inc. (OTC Bulletin Board: ELIP,
ELIPZ) completed the issuance of tax exempt bonds by the New Jersey Economic Development Authority on September
2, 1999. The aggregate principal proceeds of the fifteen year term bonds were $3,000,000, and net of offering
costs equaled $ 2,806,440. The proceeds are to be used by the Company to refinance the real property and building
the Company currently owns, and for the purchase of certain manufacturing equipment and related building
improvements.
Last quarter Elite completed a private placement of $4,462,500 which it intends to use to fund the working capital
requirements, including conducting clinical studies and product development with the object of obtaining FDA
approval.
Elite specializes in the development of oral drug delivery systems and to date has been issued three US patents.
Last year Elite moved its operations to an expanded facility in Northvale, New Jersey, which will accommodate
Elite's intention to manufacture pharmaceutical products in sufficient quantities to seek FDA approval of drug
products.
All statements other than statements of historical fact contained in this Press Release are forward-looking
statements. Forward-looking statements in this Press Release generally are accompanied by words such as "intend,"
*anticipate,* *believe,* "estimate," "project," or "expect" or similar statements. Although the Company believes
that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that
such expectations will prove correct. Factors that could cause the Company*s results to differ materially from
the results discussed in such forward-looking statements include the risks described in the prospectus of ELIP.
All forward-looking statements in this Press Release are expressly qualified in their entirety by the cautionary
statements in this paragraph.
Please visit the Company's web site at: http: www.elitepharma.com
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