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) November 3, 1995
SOURCE SCIENTIFIC, INC.
(Exact name of registrant as specified in its charter)
California 1-8311 95-2943936
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
7390 Lincoln Way, Garden Grove, California 92641
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 714-898-9001
(Former name or former address, if changed since last report.)
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ITEM 5. Other Events.
Source Scientific, Inc., a California corporation (the "Company"),
executed an Agreement and Plan of Merger to be acquired by Biopool
International, Inc. (Nasdaq:BIPL). The Agreement is structured as a merger of a
newly formed, wholly-owned subsidiary of Biopool with and into Source, and is
expected to be accounted for as a "pooling of interests." Source Scientific will
operate as a subsidiary of Biopool International.
Founded in 1987, Biopool International is headquartered in Ventura,
California and operates through two additional wholly owned subsidiaries located
in Ontario, Canada, and Umea, Sweden. Biopool develops, manufactures, and
markets a full range of test kits to assess and diagnose blood disorders and
chemistry controls used to monitor and measure the presence of therapeutic drugs
and drugs of abuse. The Company's products are sold to hospitals and clinical
and reference laboratories on a world-wide basis through an extensive network of
distributors.
Under the terms of the Agreement, shares of Biopool common stock will
be offered in exchange for shares of Source Scientific common stock. Biopool
will issue an aggregate of approximately 3.0 million new shares of common stock
in the transaction. The transaction, which is expected to be concluded late in
the first quarter of 1996, is subject to the satisfaction of numerous
significant conditions to closing, including the completion of due diligence
procedures by both companies and approval by the shareholders of Source
Scientific and Biopool International.
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.
SOURCE SCIENTIFIC, INC.
Date: November 8, 1995 By: /S/ RICHARD A. SULLIVAN
-----------------------------
Richard A. Sullivan,
President
