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) July 31, 1996
KURZWEIL APPLIED INTELLIGENCE, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-20256 04-2815079
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
411 Waverley Oaks Road
Waltham, Massachusetts 02154
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (617) 893-5151
Exhibit Index at Page 3
Page 1 of 4
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Item 5. Other Events
On July 31, 1996 the Company closed the sale of 927,500 shares of its common
stock in a private placement at a sale price of $2.00 per share as described in
the press release attached hereto as Exhibit 99.
Item 7. Financial Statements and Exhibits
(c) Exhibits. Press Release Dated August 1, 1996
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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 thereunto duly authorized.
Kurzweil Applied Intelligence, Inc.
Date: August 1, 1996 By: /s/ Thomas E. Brew, Jr.
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Thomas E. Brew, Jr.
President & Chief Executive Officer
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EXHIBIT INDEX
Exhibit No.
Description At Page
99 Press Release Dated August 1, 1996 4
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EXHIBIT 99
FOR IMMEDIATE RELEASE
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Contact: Thomas B. Doherty
Kurzweil Applied Intelligence, Inc.
617-893-5151
KURZWEIL APPLIED INTELLIGENCE, INC. ANNOUNCES
CLOSING OF PRIVATE PLACEMENT
WALTHAM, Mass, August 1, 1996 -- Kurzweil Applied Intelligence, Inc. (NASDAQ:
KURZ) today announced the closing of the sale of 927,500 million shares of its
common stock in a private placement at a sale price of $2.00 per share to
individual and institutional investors. Net proceeds to the Company are
approximately $1.67 million and will be used for working capital and general
corporate purposes.
In May 1996, the Company raised approximately $2.37 million, also through a
private placement.
Kurzweil Applied Intelligence, Inc., headquartered in Waltham, Mass., was
founded in 1982. The Company develops, markets, and supports automated speech
recognition systems used to create documents and interact with computers by
voice. The Company's medical reporting systems, VoiceMED and Kurzweil Clinical
Reporter, are used in over 500 healthcare institutions nationwide; and, Kurzweil
VOICE is an easy-to-use voice recognition system for Windows-based PCs.
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This release and other information related to Kurzweil Applied Intelligence,
Inc. can be referenced on the Company's home page on the World Wide Webb at
http://www.kurz-ai.com, or by calling 1-800-380-1234.
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