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 ) May
12, 1997
CINCINNATI MICROWAVE, INC.
(Exact name of registrant as specified in its charter)
Ohio 0-13136 31-0903863
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
One Microwave Plaza, Cincinnati, Ohio 45249-9502
(Address of principal executive office) (Zip Code)
Registrant's telephone number, including area code
(513) 489-5400 __
(Former name, former address and former fiscal year, if
changed since last report)
Item 2. Acquisition or Disposition of Assets
The Company announced today that it signed an Asset
Purchase Agreement with Sierra Wireless, Inc. (Sierra) to
sell its cellular digital packet data modem business, for
$110,000. On Monday, May 12, 1997 the Company filed a
motion with the United States Bankruptcy Court, Southern
District of Ohio, Western Division, for an order (i) granting
authority to sell the assets to Sierra pursuant to Section 363
of the Bankruptcy Code, (ii) establishing auction procedures
and (iii) setting a hearing date of May 27, 1997 on the sale
of these assets.
The Company is in the process of looking for buyers for the
rest of its phone business. This transaction, however, is
not likely to contribute more than minimum value to the
creditors. This sale, coupled with the closing of the sale of
the Company's real estate, will complete the sale of
substantially all of the Company's assets.
Form 8-K
Cincinnati Microwave, Inc.
Item 7. Financial Statements and Exhibits
(c) Exhibits.
99(i) - Press release of Cincinnati Microwave, Inc.
dated May 13, 1997.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, Cincinnati Microwave, Inc. has duly caused this
report to be signed on its behalf by the undersigned
thereunto duly authorized.
May 12, 1997
CINCINNATI
MICROWAVE, INC.
By ___________
Kurt H. Stump
Vice President
and Chief Financial Officer/
Treasurer/Secretary
Exhibit 99 (i)
FOR FURTHER INFORMATION:
At the Company: At the Financial
Relations Board:
Elaine Bacon Bill Schmidle, Analyst Inquiries
513-489-5400 312-640-6753
[email protected] Karl Plath, General Inquiries
312-640-6738
FOR IMMEDIATE RELEASE
Cincinnati Microwave Sells Modem Business
CINCINNATI, May 13, 1997_Cincinnati Microwave, Inc.
announced today that it signed an Asset Purchase
Agreement with Sierra Wireless, Inc. (Sierra) to sell its
cellular digital packet data modem business, for $110,000.
On Monday, May 12, 1997 the Company filed a motion with
the United States Bankruptcy Court, Southern District of
Ohio, Western Division, for an order (i) granting authority to
sell the assets to Sierra pursuant to Section 363 of the
Bankruptcy Code, (ii) establishing auction procedures and
(iii) setting a hearing date of May 27, 1997 on the sale of
these assets.
The Company is in the process of looking for buyers for the
rest of its phone business. This transaction, however, is not
likely to contribute more than minimum value to the
creditors. This sale, coupled with the closing of the sale of
the Company's real estate, will complete the sale of
substantially all of the Company's assets.
Additional information on the Company, its products and markets can be
obtained from the Company's worldwide web site:
http://www.cnmw.com/welcome.htm. Information
about Cincinnati Microwave also is available, free of charge
via fax,
by dialing 1-800-PRO-INFO and using ticker symbol CNMW.
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