SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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) October 27, 1998
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LOGIMETRICS, INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-10696 11-2171701
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(State or other jurisdiction of (Commission (IRS Employer
incorporation or organization) File Number) Identification No.)
50 Orville Drive, Bohemia, New York 11716
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (516) 784-4110
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Item 5. Other Events
On October 27, 1998, LogiMetrics, Inc. (the "Company") announced that
it had completed a private placement of approximately $2.7 million in face
amount of its Class C 13% Senior Subordinated Debentures due September 30, 1999.
A copy of the Company's press release is being filed as an Exhibit to this
Current Report on Form 8-K and is incorporated herein by reference.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
Exhibit 99.1 Press release, dated October 27, 1998.
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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, thereunto duly authorized.
LOGIMETRICS, INC.
By: /s/ Norman M. Phipps
_____________________
Norman M. Phipps,
President and Chief Operating Officer
Dated: November 3, 1998
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EXHIBIT INDEX
Exhibit Page No.
99.1 Press release, dated October 27, 1998. 5
LOGIMETRICS, INC. ANNOUNCES
COMPLETION OF $2 MILLION PRIVATE PLACEMENT
For Release: Immediately
Contact: Norman M. Phipps, President and COO (516) 784-4110
Bohemia, New York, October 27, 1998 - LogiMetrics, Inc. (OTC: LGMTA) announced
today that it had completed a private placement of approximately $2.7 million in
face amount of its Class C 13% Senior Subordinated Debentures due September 30,
1999, resulting in net proceeds to the Company of approximately $2 million. The
Debentures are convertible into shares of Common Stock at the option of the
holders thereof at variable conversion prices set forth in the Debentures. The
Company expects to use the net proceeds from the sale of the Debentures to
support the growth of the Company's broadband telecommunications infrastructure
equipment business, for general corporate purposes and to repay certain
indebtedness.
The Debentures have not been, and will not be, registered under the Securities
Act of 1933, as amended, or any state securities laws and they may not be
offered or sold in the United States absent registration or an applicable
exemption from registration requirements.
END
