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) June 30, 1997
Pure World, Inc.
(Exact name of registrant as specified in its charter)
Delaware 0-10566 95-3419191
(State of other (Commission (I.R.S. Employer
jurisdiction of File Number) Indentification No.)
incorporation)
376 Main Street, P.O. Box 74, Bedminster, New Jersey 07921
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (908) 234-9220
<PAGE>
Item 5. Other Information
- ----------------------------
On June 30, 1997 Pure World, Inc., ("Pure World") acquired 200 shares of
the common stock of Gaia Herbs, Inc. ("Gaia") at an aggregate purchase price of
$500,000 (the "Purchase"). The Purchase increased Pure World's investment in
Gaia to $1,510,000 and increased Pure World's equity ownership to 35% of Gaia's
outstanding shares of common stock ("Gaia Stock"). For no additional
consideration, Pure World is obligated to loan up to $200,000 to Gaia, payable
interest only for the first three years and thereafter principal and interest
amortized over the succeeding three years (the "Loan"). The Loan will bear
interest at the imputed rate required under the Internal Revenue Code. All of
the Gaia Stock owned by Pure World is non-voting. Gaia and its Chief Executive
Officer, who owns all of the voting Gaia Stock, agreed to elect a Pure World
nominee to the Gaia board no later than August 15, 1997. The first nominee will
be Paul O. Koether, Pure World's Chairman and Chief Executive Officer. Pure
World accounts for its Gaia investment by the cost method.
Gaia is a manufacturer and distributor of fluid botanical extracts for the
high-end consumer market.
<PAGE>
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.
Dated: July 9, 1997
PURE WORLD, INC.
/s/ John W. Galuchie, Jr.
-------------------------------
By: John W. Galuchie, Jr.
Executive Vice President
