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):
December 12, 2000
ORBIT INTERNATIONAL CORP.
(Exact name of registrant as specified in its charter)
Delaware
0-3936
11-1826363
(State or other jurisdiction
incorporation)
(Commission File
Number)
(IRS Employer
Identification No.)
80 Cabot Court, Hauppauge, New York 11788
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (631) 435-8300
(Former name or former address, if changed since last report)
Item 5. Other Events
Orbit International Corp. (Nasdaq SmallCap: ORBT) today announced that it has
terminated
its letter of intent with Homing, Inc. pursuant to which Orbit and Homing had
agreed to combine.
Pursuant to the terms of the letter of intent, closing of the transaction was
subject to a
number of conditions, one of which was the completion of a private placement.
Homing has been
unable to complete such private placement. As a result of the termination,
Orbit intends to write off
all costs associated with the transaction in its current fourth quarter
which it expects will
approximate $125,000.
Item 7: Financial Statements, Pro Forma Financial information and Exhibits.
(c) Exhibits
99.1 Press Release issued by the Company on December 12, 2000.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
Registrant had duly caused this report to be signed by the undersigned hereunto
duly authorized.
Orbit International Corp.
By: /s/ Mitchell Binder
Mitchell Binder
Vice President - Finance
Dated: December 14, 2000
EXHIBIT 99.1
CONTACT FOR IMMEDIATE RELEASE
Mitchell Binder December 12, 2000
631-435-8300
ORBIT INTERNATIONAL CORP. TERMINATES LETTER OF INTENT
TO COMBINE WITH HOMING, INC.
HAUPPAUGE, NY, December 12, 2000 -- Orbit International Corp. (Nasdaq SmallCap:
ORBT) today announced that it has terminated its letter of intent with Homing,
Inc. pursuant to
which Orbit and Homing had agreed to combine.
Pursuant to the terms of the letter of intent, closing of the transaction was
subject to a
number of conditions, one of which was the completion of a private placement.
Homing has
been unable to complete such private placement. As a result
of the termination, Orbit intends to
write off all costs associated with the transaction in its current fourth
quarter which it expects
will approximate $125,000.
This press release contains Aforward looking statements@, within the meaning of
the
Private Securities Litigation Reform Act of 1995, regarding the Company's
expectations relating
to the write-off of costs associated with its letter of intent with Homing.
These forward-looking
statements involve known and unknown risk, uncertainties and other factors that
could cause the
actual future results of the Company to be materially different from such
forward looking
statements. Factors that might result in such differences include, without
limitation, other
unknown costs associated with the transaction. The forward-looking statements
contained
herein are also subject generally to other risks and uncertainties that are
described from time to
time in the Company's reports and registration statements filed with the
Securities and Exchange
Commission.
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