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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): MARCH 31, 1998
STREAMLOGIC CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 95-3093858
(State or other jurisdiction of (I.R.S. employer
incorporation or organization) identification number)
COMMISSION FILE NUMBER: 0-12046
8450 CENTRAL AVENUE
NEWARK, CALIFORNIA 94560
(Address of principal executive offices and zip code)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (510) 608-4000
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ITEM 1. CHANGES IN CONTROL OF THE REGISTRANT.
Pursuant to Section 8.3.1 of the Modified Plan (as defined in Item 3
below) the business of the StreamLogic Corporation (the "Company") shall be
managed by or under the direction of Michael O. Preletz, and other individuals
as may be designated by Mr. Preletz, who shall maintain all operational control
of the Company, including the appointment, compensation, employment and
retention of the Company's senior management, until March 31, 2001. In
addition, pursuant to Section 8.3.2 of the Modified Plan, Michael O. Preletz,
and other individuals as may be designated by Mr. Preletz, shall be entitled to
select, remove and replace three (3) of the five directors, at all times until
March 31, 2001. Mr. Preletz joined the Company as Chief Executive Officer in
April 1997, and continued to act as Chief Executive Officer during the
bankruptcy proceedings.
ITEM 3. BANKRUPTCY OR RECEIVERSHIP.
On June 26, 1997, the Company filed a voluntary petition in the United
States Bankruptcy Court for the Northern District of California, San Francisco
Division ("Bankruptcy Court"), seeking protection under Chapter 11 of the
United States Bankruptcy Code. On March 3, 1998, the Bankruptcy Court entered
a confirmation order confirming and approving the Company's First Amended Plan
of Reorganization dated January 15, 1998, including certain modifications
thereto (the "Modified Plan"). The Modified Plan became effective on March 31,
1998. See Press Release dated April 1, 1998 attached as Exhibit 99.3.
ITEM 5. OTHER EVENTS.
Concurrent with this filing, the Company filed a Form 15 with the
Securities and Exchange Commission to terminate the registration of the
Company's Common Stock pursuant to Section 12g-4(a)(1)(i) of the Securities
Exchange Act of 1934, as amended.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
Exhibits
99.1 Press Release dated April 1, 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 hereunto duly authorized.
STREAMLOGIC CORPORATION
(Registrant)
Date: April 9, 1998 By /s/ George Oliva
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George Oliva
Chief Financial Officer and
Vice President of Finance
and Administration
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Exhibit Index
99.1 Press Release dated April 1, 1998.
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EXHIBIT 99.1
Press Release dated April 1, 1998.
STREAMLOGIC'S PLAN OF REORGANIZATION EFFECTIVE
NEWARK, California (April 1, 1998)--StreamLogic Corporation
("StreamLogic" or the "Company"), today announced that StreamLogic's First
Amended Plan of Reorganization, which was confirmed by the U.S. Bankruptcy
Court for the Northern District of California on March 3, 1998, became
effective on March 31, 1998 (the "Effective Date").
All shares of StreamLogic's stock existing immediately before
the Effective Date have been canceled. Because the Company's liabilities
significantly exceeded its assets, former StreamLogic shareholders did not
receive any equity or other interest in the reorganized entity in exchange for
cancellation of their shares.
For further information, contact George Oliva, Vice President
of Finance and Administration and Chief Financial Officer of the Company at
(510) 608-4078.
