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): June 10, 1999
UNIVIEW TECHNOLOGIES CORPORATION
(Exact name of Registrant as specified in its charter)
Texas 2-93668-FW 75-1975147
(State or other jurisdiction of Commission File Number (IRS Employer
incorporation) Identification No.)
10911 Petal Street, 75238
Dallas, Texas (Zip Code)
(Address of principal executive offices)
(214) 503-8880
(Registrant's telephone number, including area code)
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ITEM 5. OTHER INFORMATION
On Monday, June 14, 1999, uniView Technologies Corporation issued a
press release, which is filed herewith as Exhibit 99.1 and incorporated
herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial statements: None.
(b) Exhibits: Reference is made to the Exhibit Index at the end of this
Form 8-K report for a list of all exhibits filed with and incorporated by
reference in this report.
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.
uniView Technologies Corporation
(Registrant)
By: /s/ Billy J. Robinson
Billy J. Robinson
Vice President, Secretary and
General Counsel
Date: June 25, 1999
<PAGE>
EXHIBIT INDEX
Exhibit
Number Description of Exhibits
99.1* Press release of Registrant dated June 14, 1999.
_______________
* Filed herewith.
<PAGE>
FOR IMMEDIATE RELEASE
Media Contact: Investor Contact:
Holly Vershum/Allison Ellis Neal Katz
Edelman Public Relations Worldwide uniView Technologies
(214) 520-3555 (214) 503-8880
email: [email protected] [email protected]
or [email protected]
UNIVIEW TECHNOLOGIES COMPLETES $18 MILLION TRANSACTION
Company obtains working capital, repositions shareholder equity
DALLAS (June 14, 1999) - uniView Technologies Corp. (NASDAQ:UVEW) has
completed a transaction that adds working capital and provisions to
reposition existing low-priced issues. The new convertible preferred
issue with a conversion price of $4 per share was fully subscribed by New
York City-based Brown Simpson Asset Management L.L.C. The total
transaction, valued at $18 million, provides $4 million in working
capital, as well as a restructure of previous issues with low conversion
prices.
"We are very excited to have this opportunity to increase our
investment in uniView. The company has the vision, the products, the
management, and the ability to be a major player in the Internet
broadband technologies arena," said Evan Levine, managing principal of
Brown Simpson.
The primary benefit of the placement is to remove previously placed
low-priced issues, thereby reducing selling pressure created by lower
conversion prices.
"As we move into our growth stage, it is important to continue to
improve the balance sheet and, when possible, place existing investors in
the best position to participate over the long term without short-term
pressure on the stock." said Patrick A. Custer, president and CEO of
uniView Technologies Corp. "The need to raise capital over the last
couple of years, regardless of depressed stock prices, created a market
`overhang.' As we advance our business plan, we are fortunate to have
institutional investors willing to participate in our future."
Dallas-based uniView Technologies offers the expertise and
innovative tools necessary to create fully customized video-on-demand,
interactive applications, e-commerce, and other interactive broadband
services. Building on a foundation of convergence technology, and the
understanding of end user requirements, uniView has merged its Internet
access technologies and existing applications with the technologies of
its development partners to deliver the future of interactive networking
products and services.
In 1997, uniView introduced its first revolutionary set top box and,
today, its Advanced Systems Group (ASG) uses convergence devices and
integration expertise to design custom broad band networks for clients in
multi-level marketing, hospitality, utilities, banking, and
telecommunications. In addition to complete network system design, ASG
also offers Web site development, web site hosting, and full
international Internet access, while uniView's Product Group focuses on
research, product development and customer service. More information on
uniView is available at www.uniview.net.
NOTICE: Some of this information may contain "Forward Looking
Statements" which are company plans, projections and uncertainties. For
a discussion of risk factors associated with some of these plans and
projections, please refer to the company's SEC filings, which contain
additional discussion about those factors which could cause actual
results to differ from management's expectations.
