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 25, 1999 (March 12, 1999)
Xceed Inc.
(Exact name of registrant as specified in its charter)
Delaware
(State or Other Jurisdiction of Incorporation)
0-13049 13-3006788
(Commission File Number) (I.R.S. Employer Identification No.)
488 Madison Avenue, New York, New York 10022
(Address and zip code of principal executive offices)
212-753-5511
(Registrant's telephone Number)
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ITEM 5. Other Events
Pursuant to a Notice of Redemption issued by the Company advising
holders of the Company's outstanding Redeemable Class B Warrants (the "Class B
Warrants") that the Class B Warrants would be redeemed on February 22, 1999, the
Company has now been advised by American Stock Transfer and Trust Co., the
warrant agent, that 1,811,923 Class B Warrants were exercised by holders of the
Class B Warrants prior to the redemption date. The Company received gross
proceeds from the exercise of the Class B Warrants of $10,819,038. The proceeds
will be used for working capital purposes and possible future acquisitions. The
holders of the Class B Warrants, upon their exercise, were entitled to receive
one (1) share of the Company's common stock. As a result, the Company has issued
1,811,923 shares of its common stock pursuant to the exercise of the Class B
Warrants.
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.
Xceed Inc.
(Registrant)
By: /s/ Werner Haase
Werner Haase, President
DATED: March 25, 1999
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Exhibits
20(g) Notice of Redemption dated January 22, 1999 (incorporated by reference
from the Company's Form 8-K filed with the Commission on January 28,
1999).
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