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: January 18, 1999
(Date of earliest event reported)
EXTECH CORPORATION
(Exact name of Registrant as specified in charter)
Delaware 0-1665 36-2476480
(State or other (Commission File No.) (IRS Employer Identification
jurisdiction incorporation) Number)
90 Merrick Avenue, East Meadow, New York 11554
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (516) 794-6300
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Item 5. Other Events
On January 18, 1999, EXTECH Corporation issues a press release (the "Press
Release") announcing that it had entered into a letter of intent with respect to
a private placement of between $1,500,000 and $2,000,000 in equity securities.
The letter of intent is more particularly described in the Press Release, which
is attached hereto as Exhibit 99.1.
Item 7. Financial Statements, Pro Forma Financial Statements and Exhibits.
(c) Exhibits.
99.1 Press Release, dated January 18, 1999
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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.
EXTECH CORPORATION
Dated: January 19, 1999 By:/s/ Morton L. Certilman
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Morton L. Certilman
President
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Exhibit 99.1
FOR IMMEDIATE RELEASE
Contact: Morton L. Certilman
President
(516) 794-6300
EXTECH CORPORATION SIGNS LETTER OF INTENT FOR
PRIVATE PLACEMENT
January 18, 1999, EAST MEADOW, NEW YORK -- EXTECH CORPORATION (Bulletin
Board: EXTH) announced that it has entered into a letter of intent with respect
to a private placement of between $1,500,000 and $2,000,000 in equity
securities. The private placement is contemplated to commence shortly after the
closing of EXTECH's acquisition of Dealers Choice Automotive Planning Inc.
("DCAP") and certain related companies. The DCAP closing is scheduled to take
place immediately following EXTECH's annual meeting of stockholders which is
scheduled for February 25, 1999. The securities offered in the private placement
will not be registered under the Securities Act of 1933 and may not be offered
or sold in the United States absent registration under the Securities Act or an
exemption from the registration requirements thereof. The letter of intent
provides for the grant of certain registration rights to the purchasers of the
offered securities.
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EXTECH operates the International Airport Hotel in San Juan, Puerto Rico.
DCAP is engaged primarily in the following businesses: (i) retail automotive,
motorcycle, boat, life, business and homeowners' insurance brokerage; (ii)
income tax return preparation and (iii) automobile club services for roadside
emergencies. DCAP also intends to provide insurance premium finance services as
well as mortgage brokerage services to its clients. DCAP has an aggregate of
approximately 57 wholly-owned, joint venture and franchise locations in the
Greater New York Metropolitan Area.
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