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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: May 24, 1996 Commission File No. 0-13244
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(Date of earliest event reported)
ZYCAD CORPORATION
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(Exact name of registrant as specified in its Charter)
DELAWARE 41-1404495
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(State of other jurisdiction of (IRS Employer
incorporation or organization) Identification No.)
47100 Bayside Parkway, Fremont, California 94538-9942
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(Address of principal executive offices) (Zip Code)
(510) 623-4400
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(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
On May 24, 1996, Zycad Corporation (the "Company") completed a $10 million
private placement financing led by the Palladin Group, LP, a New York-based
money management firm. Under the terms of the financing agreement, Zycad
issued 6% Convertible Subordinated Debentures with a three (3) year term,
which can be converted into Zycad common stock to be registered under
Regulation D of the Securities Act of 1933. Conversion rights may be exercised
at various discounts up to 20% from the market price at date of conversion.
Any Debentures outstanding on the maturity date are automatically converted
into common stock at the then applicable conversion discount. In addition,
Palladin received warrants to purchase up to 100,000 additional Zycad common
shares at $10.00 per share, subject to certain conditions.
ITEM 7. EXHIBITS
(c) Exhibits
2.1 6% Convertible Subordinated Debenture due May 24, 1999
issued to Halifax Fund, L.P.
2.2 6% Convertible Subordinated Debenture due May 24, 1999
issued to Capital Ventures International.
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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.
Dated: May 30, 1996
ZYCAD CORPORATION
/s/ PETER J. CASSIDY
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Peter J. Cassidy
Executive Vice President and
Chief Financial Officer
