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): July 17,
1996
APPLIED MAGNETICS CORPORATION
(Exact name of registrant as specified in its charter)
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Delaware 1-6635 95-1950506
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(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification
incorporation) Number)
Registrant's telephone number, including area code:
(805) 683-5353
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ITEM 2 ACQUISITION OR DISPOSITION OF ASSETS
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On July 17, 1996, the Registrant, through a non-
judicial foreclosure following a breach of a stock pledge by
a third party, acquired 75% of the outstanding common stock
of Delta Bravo, Inc., a Delaware Corporation ("DBI"), in
satisfaction of approximately $2.5 million of debt owed by
DBI to the Registrant. DBI had previously defaulted on
certain promissory notes issued to the Registrant by DBI in
connection with the sale of Registrant's former subsidiaries,
Magnetic Data, Inc. and Brum-Ko Magnetics Corporation, to
DBI. DBI, with annual revenues of approximately $50 million,
through its subsidiaries is engaged in the business of
manufacturing and repairing components for the high
technology industry.
ITEM 7 FINANCIAL STATEMENT AND EXHIBITS
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(a) Financial statements of businesses acquired.
It is impracticable for the Registrant to provide
the financial statements at the time of filing this Form 8-K
report. The required financial statements will be filed
within the 60-day period following the date of filing this
Form 8-K report.
SIGNATURE
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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
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Date: August 1, 1996 By: /S/ Craig D. Crisman
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Craig D. Crisman
Chief Executive Officer
Chief Financial Officer
(Principal Financial
Officer)
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