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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): OCTOBER 7, 1999
K2 INC.
(exact name of Registrant as specified in its charter)
DELAWARE 1-4290 95-2077125
(State of Incorporation) (Commission File No.) (I.R.S. Employer
Identification No.)
4900 SOUTH EASTERN AVENUE, LOS ANGELES, CA 90040
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (323) 724-2800
N/A
(Former name or former address, if changed since last report)
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Item 2. Acquisition or Disposition of Assets.
(a) On October 7, 1999, K2 Inc. (the "Registrant") completed its
acquisition of Ride Inc. The Registrant acquired all the issued and
outstanding shares of common stock of Ride, Inc. in exchange for shares of K2
Inc. common stock. The transaction, which is structured as a stock for stock
merger, will be accounted for under the purchase method of accounting. Each
shareholder of Ride, Inc. common stock received 0.10 shares of K2 stock in
exchange for each share held. Based on 14.3 million shares outstanding,
approximately 1.4 million K2 shares are in the process of being issued to the
Ride shareholders with a total value of approximately $12.4 million. A copy of
the press release is included herein as Exhibit 99.1 and is incorporated by
reference into this Item 2.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Financial Statements of Businesses Acquired. It is impracticable to
file the historical financial information required by Item 7(a) of Form 8-K at
this time. Such historical financial information will be filed or incorporated
by reference when available, but in no event later than December 21, 1999.
(b) Pro Forma Financial Information. It is impracticable to file the
pro forma financial information required by Item 7(b) of Form 8-K at this time.
Such pro forma financial information will be filed or incorporated by reference
when available, but in no event later than December 21, 1999.
(c) Exhibits.
The following exhibits are filed with this report on Form 8-K:
EXHIBIT NO. DESCRIPTION
99.1 Press Release, dated October 8, 1999, announcing the
completion of the acquisition.
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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.
Date: October 22, 1999 K2 INC.
By: /S/RICHARD M. RODSTEIN
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Richard M. Rodstein
President and Chief Executive Officer
K2 INC.
Dated: October 22, 1999
By: /S/JOHN J. RANGEL
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John J. Rangel
Senior Vice President - Finance
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October 8, 1999
K2 completes Ride acquisition.
Transaction adds to growing snowboard
position.
Los Angeles, California - October 8, 1999 - K2 Inc. (NYSE:KTO)
announced the completion yesterday of its acquisition of Ride Inc. (OTC:RIDE), a
Preston, Washington-based designer and manufacturer of snowboard equipment,
apparel and accessories under the Ride, Liquid, 5150, Smiley and FullTilt brand
names.
In the transaction, which is structured as a stock-for-stock
merger, each RIDE share will be converted into 0.10 of a share of K2 common
stock. Based on 14.3 million Ride shares outstanding, approximately 1.4 million
K2 shares will be issued in the transaction, which has a total value of
approximately $12.4 million.
"This acquisition further establishes the strength of K2's
stable of powerful brand names, especially in snowboarding," said K2's Richard
M. Rodstein, president and chief executive officer. "We welcome Ride's
enthusiastic and loyal customers to the K2 family and look forward to providing
them with the technically innovative product they expect."
K2 Inc. is a leading designer, manufacturer and marketer of
brand name sporting goods, other recreational and industrial products. The
Company's sporting goods products include well-known names such as K2 and OLIN
alpine skis, K2 SNOWBOARDS, BOOTS AND BINDINGS, K2 in-line skates, STEARNS
sports equipment, SHAKESPEARE fishing tackle, K2 bikes, AND DANA DESIGN
backpacks. K2's other recreational products include Planet Earth skateboards,
Adio skateboard shoes and HILTON corporate casuals. K2's industrial products
include SHAKESPEARE extruded monofilaments, marine antennas and fiberglass light
poles.
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