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 17, 1997
MERISEL, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 0-17156 95-4172359
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(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
200 CONTINENTAL BOULEVARD, EL SEGUNDO, CALIFORNIA 90245-0948
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (310) 615-3080
Item 5. OTHER EVENTS
On September 17, 1997, Merisel, Inc. issued the press release
attached hereto as Exhibit 99.1.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99.1 Press release dated September 17, 1997.
SIGNATURE
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 thereunto duly
authorized.
MERISEL, INC.
Date: September 17, 1997 By: /s/ KAREN A. TALLMAN
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Karen A. Tallman
Vice President, General
Counsel and Secretary
EXHIBIT 99.1
FOR IMMEDIATE RELEASE Contacts:
James Illson
Senior Vice President, Finance and CFO
(310) 615-1295
Karen Tallman
Vice President, General Counsel
(310) 615-1235
Investor Relations/Financial Media:
Charles B. Freedman, Assistant Treasurer
(310) 615-1376
Rivian Bell
(310) 615-6812
(800) 686-1910 (24-hour pager)
MERISEL POSTPONES SPECIAL STOCKHOLDERS' MEETING INDEFINITELY
WILL MAKE INTEREST AND PRINCIPAL PAYMENTS TO REMAIN
IN COMPLIANCE WITH DEBT OBLIGATIONS
El Segundo, Calif. (Sept. 17, 1997) -- Merisel, Inc.
(NASDAQ:MSEL) reported today that it has been advised by
representatives of a committee of certain holders of its 12.5%
Senior Notes that the company will not receive an extension of
the agreement between the company and such noteholders relating
to the company's financial restructuring. Without an extension,
an agreement termination event will occur on Sept. 19, 1997. In
light of this information, the company has postponed the special
meeting of stockholders and the deadline for receipt of
acceptances with respect to the company's prepackaged plan of
reorganization for an indefinite period. These had previously
been scheduled for Sept. 18, 1997.
An agreement termination event will require the company to resume
payment of interest on the 12.5% Senior Notes and to make
amortization payments totaling $40 million on certain
indebtedness of its operating subsidiaries. The company intends
to make such payments on Sept. 19, 1997. Upon such payments, the
company believes it will be in full compliance with all of its
outstanding debt obligations.
The company had previously disclosed that it was seeking an
extension to avoid an agreement termination event, which would
occur if the company failed to conclude a stockholder vote
regarding the proposed financial restructuring by Sept. 18, 1997.
The noteholders had previously granted an extension from Aug. 31
through Sept. 18, 1997. The company informed the Ad Hoc
Noteholders' Committee early last week that a further extension
was required in order to give the Securities and Exchange
Commission sufficient time to review the company's supplement to
its registration statement relating to the financial
restructuring, and to allow the company sufficient time to
respond to their comments and circulate the supplement to the
company's stockholders and the noteholders.
Merisel, Inc. (NASDAQ: MSEL) is a leader in the distribution of
computer hardware and software products and reported 1996 sales
of $3.44 billion from its North American operations. Merisel
distributes a full line of 25,000 products and services from the
industry's leading manufacturers to more than 45,000 resellers
throughout North America. In addition, the company provides a
full range of customized, value-added services. Merisel also
offers dedicated support to high-end resellers through the
Merisel Open Computing Alliance (MOCA(TM)), which is dedicated to
Sun Microsystems and related third-party products. @Merisel, the
company's corporate home page, is located at
http://www.merisel.com. Additional information can be obtained
by fax at (310) 615-6811
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