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UNITED STATES
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, 1999
NABI(R)
(Exact name of registrant as specified in its charter)
0-4829-03
Commission File Number
Delaware 59-1212264
(State or other jurisdiction (I.R.S. Employer
of incorporation) Identification No.)
5800 Park of Commerce Boulevard, N.W.
Boca Raton, Florida 33487
(Address of principal executive offices and zip code)
(561) 989-5800
(Registrant's telephone number, including area code)
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ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
(a) Effective September 15, 1999, Nabi (the "Registrant") has engaged the
accounting firm of Ernst & Young LLP ("E&Y") as independent certified
public accountants for the Registrant for the fiscal year ending
December 31, 1999. Previously, the Registrant had engaged the
accounting firm of PricewaterhouseCoopers LLP ("PWC"). The Registrant
dismissed PWC effective September 15, 1999. The decision to change
accounting firms was approved by the Registrant's Board of Directors on
the recommendation of the Audit Committee.
(b) During the two most recent fiscal years ending December 31, 1998, and
through September 15, 1999, the Registrant has had no disagreements
with PWC on any matter of accounting principles or practices, financial
statement disclosure or auditing scope or procedure, which
disagreements, if not resolved to the satisfaction of PWC, would have
caused it to make a reference to the subject matter of the
disagreements in connection with its reports.
(c) PWC's report on the Registrant's financial statements for the past two
fiscal years ended December 31, 1998, contained no adverse opinion or
disclaimer of opinion and was not qualified or modified as to
uncertainty, audit scope or accounting principles.
(d) The Registrant has not consulted with E&Y during the last two years or
through September 15, 1999 on either the application of accounting
principles or type of opinion E&Y might issue on the Registrant's
financial statements.
(e) The Registrant has provided a copy of this Report on Form 8-K to PWC
and has requested that PWC furnish the Recipient with a letter
addressed to the Securities and Exchange Commission stating whether it
agrees with the above statement and, if not, stating the respects in
which it does not agree. A copy of PWC's letter to the Securities and
Exchange Commission, dated September 15, 1999, is filed as Exhibit 1 to
this Form 8-K.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibit
1. Letter of PricewaterhouseCoopers LLP to the Securities and Exchange
Commission dated September 15, 1999.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
NABI(R)
By: /s/ Thomas H. Mclain Date: September 15, 1999
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Thomas H. Mclain
Senior Vice President, Corporate Services
and Chief Financial Officer
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EXHIBIT 1
September 15, 1999
Securities and Exchange Commission, Mail Stop 11-3
450 Fifth Street, N.W.
Washington, D.C. 20549
Commissioners:
We have read the statements made by Nabi (copy attached), which we understand
will be filed with the Commission, pursuant to Item 4 of Form 8-K, as part of
the Company's Form 8-K report dated September 15, 1999. We agree with the
statements concerning our Firm in such Form 8-K.
Very truly yours,
/s/ PricewaterhouseCoopers LLP
PricewaterhouseCoopers LLP
