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 October 9, 2000
DATAMARINE INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
0-8936
(Commission File Number)
Washington 04-2454559
(State of Incorporation) (I.R.S. Employer Identification Number)
7030 220th SW, Mountlake Terrace, Washington 98043
(Address of principal executive offices)
(425)771-2182
(Registrant's telephone number, including area code)
Item 5. Other Events
Datamarine International, Inc. announced that on September 27, 2000 it had
repurchased its subordinated debenture from the holder, Alta Subordinated
Debt Partners III, L.P. ("Alta".) The debenture's scheduled maturity date
was December 19, 2000, but an agreement reached earlier this year gave
Datamarine the option to purchase the debenture for $2,200,000 by September
30, 2000.
In addition to eliminating Alta's rights to approximately 200,000 Datamarine
common shares, the Company will realize a gain of approximately $900,000 on
the debt retirement. Datamarine's repurchase of the debenture also causes
all claims and counterclaims in the matter of Alta Subordinated Debt
Partners III, L.P. v. Datamarine International, Inc. to be dismissed.
SIGNATURES
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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.
Datamarine International, Inc.
(Registrant)
Date: October 9, 2000 /S/ JAN KALLSHIAN
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Jan Kallshian
Chief Financial Officer
