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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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):
April 23, 1999
PURCHASESOFT, INC.
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(Exact Name of Registrant as Specified in Charter)
DELAWARE
(State or Other Jurisdiction of Incorporation)
0-11791 13-2897997
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(Commission File Number) (IRS Employer
Identification No.)
7301 Ohms Lane, Suite 220, Edina, Minnesota 55439
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code:
(612) 941-1500
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ITEM 5. OTHER EVENTS.
PurchaseSoft, Inc. (the "Company") announced today that it elected to
extend the expiration date of its rights offering from April 23, 1999 to April
30, 1999, 6:00 p.m., Eastern Daylight Time. A copy of the news release
announcing the extension is filed as Exhibit 99.1 to this Report.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
Exhibit
Number Description
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99.1 Press Release dated April 23, 1999
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.
PURCHASESOFT, INC.
By: /s/ Michael G. Kerrison
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Name: Michael G. Kerrison
Title: Chairman and Chief Executive Officer
Dated: April 23, 1999
INDEX TO EXHIBITS
Exhibit
Number Description
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99.1 Press Release dated April 23, 1999
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Exhibit 99.1 NEWS RELEASE
April 23, 1999
FOR IMMEDIATE RELEASE
PURCHASESOFT, INC. ANNOUNCES
EXTENSION OF RIGHTS OFFERING EXPIRATION DATE
EDINA, MINNESOTA, April 23, 1999 -- PURCHASESOFT, INC. (OTC BULLETIN BOARD:
PURC) today announced that it has extended its rights offering from April 23,
1999 to April 30, 1999, 6:00 p.m., Eastern Daylight Time.
The Company also announced today, that it has received $2,727,000 from L-R
Global Partners, L.P. as payment for their basic subscription rights. L-R
Global also reaffirmed their commitment, that if the proceeds to PurchaseSoft in
the rights offering are less than $5,000,000, they will purchase, at $0.90 per
share, additional shares of common stock to make up the shortfall, but only up
to a total investment, in this offering, of $3,500,000. In addition, the
Company announced that it has received $100,000 from Michael G. Kerrison as
payment for his basic subscription and over-subscription rights, subject to
availability of sufficient shares.
PurchaseSoft, Inc. is a technology leader focused specifically on
Business-to-Business Strategic Procurement. Its core product, PurchaseSoft-TM-,
encompasses electronic catalogs, requisitioning, e-mail enabled authorization,
request for quotations, quotations and analyses, purchasing, receiving,
inventory management, fixed asset management, invoice management, and advanced
decision support.
