UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
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DATE OF REPORT
(DATE OF EARLIEST EVENT REPORTED): MARCH 22, 1996
APPLIED MAGNETICS CORPORATION
(Exact Name of Registrant as Specified in its Charter)
DELAWARE
(State or Other 1-6635 95-1950506
Jurisdiction of (Commission (IRS Employer
Incorporation) File Number) Identification No.)
75 ROBIN HILL ROAD
GOLETA, CALIFORNIA 93117
(Address of Principal Executive Offices)
REGISTRANT'S TELEPHONE NUMBER,
INCLUDING AREA CODE: (805) 683-5353
Exhibit Index on Page 3
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Item 5. OTHER EVENTS
On March 25, 1996, Applied Magnetics Corporation
announced that it had completed the sale, in an offshore
offering and in a concurrent private placement in the United
States, of $115.0 million of 7.0% Convertible Subordinated
Debentures due 2006.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits.
Exhibit No. Description of Exhibit
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99 Press Release dated March 25, 1996 announcing
that Applied Magnetics Corporation has completed
the sale, in an offshore offering and in a
concurrent private placement in the United
States, of $115.0 million of 7.0% Convertible
Subordinated Debentures due 2006.
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.
APPLIED MAGNETICS CORPORATION
By: /s/ Peter T. Altavilla
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Peter T. Altavilla
Corporate Controller
and Secretary
Dated: April 2, 1996
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INDEX TO EXHIBITS
Sequentially
Numbered
Exhibit Number Description of Exhibit Page
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Exhibit 99 Press Release dated
March 25, 1996 announcing
that Applied Magnetics
Corporation has completed
the sale, in an offshore
offering and in a concurrent
private placement in the
United States, of $115.0
million of 7.0% Convertible
Subordinated Debentures due
2006. 4
Page 3 of 5 <PAGE>
EXHIBIT 99
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FOR IMMEDIATE RELEASE: FOR MORE INFORMATION:
March 25, 1996 Craig D. Crisman
Chairman and Chief
Executive Officer
(805) 683-5353
APPLIED MAGNETICS CORPORATION
COMPLETES THE SALE OF
$115.0 MILLION OF CONVERTIBLE SUBORDINATED DEBENTURES
Goleta, CA - Applied Magnetics Corporation (NYSE:
APM) today announced that it has completed the sale, in an
offshore offering and in a concurrent private placement in the
United States, of $115.0 million of 7.0% Convertible
Subordinated Debentures due 2006. The Debentures, non-callable
for three years, will be convertible into common stock at a
rate of $18.60 per share, which equates to an aggregate of
approximately 6,182,796 shares of the Company's common stock.
Proceeds from the sale of the debentures will be used
to repay debt, to fund capital expenditures and for general
corporate purposes.
Neither the debentures nor the common stock issuable
upon conversion have been registered under the United States
Securities Act of 1933. Accordingly, these securities may not
be offered or sold in the United States or to any U.S. person
absent registration or an applicable exemption from the
registration requirements.
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Applied Magnetics, with headquarters in Goleta, CA is
a major independent supplier of magnetic recording heads for
disk drive applications for the worldwide data storage segment
of the computer industry.
This announcement is neither an offer to sell nor a
solicitation of an offer to buy any of these securities.
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