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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): March 2, 2000
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ODS NETWORKS, INC.
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(Exact Name of Registrant as Specified in Its Charter)
Delaware
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(State of Other Jurisdiction of Incorporation)
000-20191 75-1911917
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(Commission File Number) (IRS Employer
Identification No.)
1101 East Arapaho Road, Richardson, Texas 75081
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(Address of Principal Executive Offices) (Zip Code)
(972) 234-6400
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(Registrant's Telephone Number, Including Area Code)
N/A
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(Former Name or Former Address, if Changed Since Last Report)
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS.
On March 2, 2000, the Registrant sold its investment of 770,745 shares of
the common stock of Alteon WebSystems, Inc. ("Alteon") (Nasdaq:ATON) for $87.00
per share generating cash of approximately $67.1 million. The stock was
purchased by HBK Master Fund L.P. ("HBK"), an unrelated party of the Registrant.
The text of Registrant's press release announcing the stock sale is
attached hereto as Exhibit 99.1 and is incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) FINANCIAL STATEMENTS OF BUSINESSES ACQUIRED: Not applicable.
(b) PRO FORMA FINANCIAL INFORMATION. Not applicable.
(c) EXHIBITS.
99.1 Text of press release of the Registrant, dated March
6, 2000, announcing the stock sale.
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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.
ODS NETWORKS, INC.
Dated: March 17, 2000 By: /s/ Jay R. Widdig
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Jay R. Widdig,
Chief Financial Officer
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EXHIBIT INDEX
Exhibit No. Description of Exhibit
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99.1 Text of press release of the Registrant, dated
March 6, 2000, announcing the stock sale.
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[LOGO]
NEWS RELEASE
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ODS REPORTS SALE OF ALTEON WEBSYSTEMS, INC. SHARES
RICHARDSON, TEXAS - MARCH 6, 2000 - ODS Networks, Inc. (NASDAQ: ODSI)
today reported that the company sold a total of 770,745 shares of the common
stock of Alteon WebSystems, Inc. (NASDAQ: ATON) for approximately $67.1 million.
ODS expects to report a pre-tax gain of approximately $66.4 million from the
sale of the Alteon WebSystems shares in the quarter ending March 31, 2000.
ODS Networks Inc. (NASDAQ: ODSI) is a leading worldwide provider of
enterprise data security and networking solutions. The company's security
solutions include their 'Best-of-breed' integrated security appliance,
SecureCom(TM), the widely deployed intrusion detection and vulnerability
assessment tools, Kane Security Analyst(TM) and Kane Security Monitor(TM), and
the state-of-the-art behavioral modeling and intrusion detection security
solution, CMDS(TM) (Computer Misuse Detection System). ODS Networks' wide array
of security solutions enable customers to provide thorough and customized
information protection for corporate and government networks, intranets,
extranets and electronic commerce environments. More information about ODS
Networks is available at http://www.ods.com.
# # #
ODS is a registered trademark and SecureCom, Kane Security Analyst, Kane
Security Monitor and CMDS are trademarks of ODS Networks, Inc. All other
trademarks are the property of their respective owners.
For more information, contact:
Billy Austin Charleigh Shayne
ODS Networks ODS Networks
Vice President of Marketing Director of Investor Relations
972-664-8040 972-664-8061
