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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) SEPTEMBER 15, 1997
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WEITEK CORPORATION
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(Exact name of registrant as specified in charter)
CALIFORNIA 000-17191 94-2709963
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
2801 ORCHARD PARKWAY, SAN JOSE, CA 94086
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (408) 526-0300
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NOT APPLICABLE
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(Former name or former address, if changed since last report.)
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ITEM 5. OTHER EVENTS
On September 4, 1997, Weitek Corporation announced that it would make a
partial liquidating distribution to its shareholders of record as of September
15, 1997. For a more complete description of the liquidating distribution,
please refer to Exhibit 99.1 filed herewith.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99.1 Press Release
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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: September 29, 1997 WEITEK CORPORATION
/s/ Richard H. Bohnet
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Richard H. Bohnet
*Responsible Person
*As of the date of this filing, the Registrant no longer has any persons serving
as executive officers or members of its board of directors. Pursuant to the
Registrant's Plan of Reorganization approved by the United States Bankruptcy
Court on March 20, 1997, Mr. Bohnet, the former President and Chief Executive
Officer of the Registrant, is designated as the Responsible Person empowered to
do all things necessary and appropriate to meet the Registrant's obligations.
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INDEX TO EXHIBITS
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Sequentially
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Exhibit Description Page
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99.1 Press Release
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EXHIBIT 99.1
WEITEK CORPORATION
ANNOUNCES LIQUIDATING DISTRIBUTION
September 4, 1997 -- Weitek Corporation (OTC: WWTK). Today the Company
announced that it will make a partial liquidating distribution totaling
$6,317,534, or $0.73 for every outstanding share of its Common Stock (the
"Distribution"). The Distribution will be made to all shareholders of record as
of the close of business on September 15, 1997 (the "Distribution Date").
Pursuant to the Company's plan of reorganization under Chapter 11 of
the United States Bankruptcy Code (the "Plan of Reorganization"), the Company
has sold substantially all of its assets and has been in the process of winding
up its affairs during 1997. On the Distribution Date, the Company will begin to
pay creditor claims. Payments to shareholders will take place after the
Company's transfer agent determines the identity of the holders of record of the
Company's Common Stock as of the close of business on the Distribution Date. The
Distribution will be mailed to the shareholders on approximately September 29,
1997.
Pursuant to the Plan of Reorganization, effective as of the close of
business on the Distribution Date, the Company's Common Stock will no longer
represent an ownership interest in the Company and thereafter will only
represent the right to receive a pro rata share of the Distribution and
subsequent distribution(s), if any. As of the close of business on the
Distribution Date, the Company's Common Stock will no longer be transferable on
the Company's books. Any shareholder contemplating the sale or other transfer of
their shares after such date should contact their broker regarding the
Distribution. After the resolution of the one outstanding disputed claim (for
which the Company has reserved $691,200) and payment of all administrative
costs, the Company's remaining funds, if any, will be distributed to the
shareholders of record as of the Distribution Date.
