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
July 15, 1994
Commission file number 1-8948
INTELOGIC TRACE, INC.
(Exact name of registrant as specified in its charter)
New York 74-2368260
(State or other jurisdiction of (I. R. S. Employer
incorporation or organization) Identification No.)
Turtle Creek Tower I
P. 0. Box 400044, San Antonio, Tx. 78229-8415
(Address of principal executive offices) (Zip Code)
210-593-5700
(Registrant's telephone number, including area code)
Item 5. Other Events
On Thursday, July 14, 1994, Intelogic Trace, Inc. issued a
press release which announced that it is engaged in discussions
with its largest bondholders to explore the restructuring of the
company's debt. The company currently has $49.9 million in
11.99% subordinated debentures outstanding which are due on July
15, 1996. The company also announced today that the $2.99
million interest payment due on July 15, 1994 on its 11.99%
subordinated debentures will not be made tomorrow. In its
discussions, the company has principally been dealing with
Fidelity Management & Research Company with a view towards
promptly reaching an agreement on an equity for debt exchange.
Mark S. Helwege, President and Chief Executive Officer,
stated: "We look forward to a restructuring which will
strengthen our company, benefit our customers, employees, and all
parties concerned by providing I T with an excellent opportunity
to succeed in its mission of providing quality service and
support in the industries we serve."
The Company noted in its latest Form 10-Q report that if the
$2.99 million interest payment is not made on or before August
15, 1994, an event of default could be declared which could
result in the acceleration of the obligation to make payment of
the principal and accrued interest. The company declined to make
any comment as to whether the company will make the interest
payment in the future.
SIGNATURE
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.
INTELOGIC TRACE, INC.
Date: July 15, 1994 By: /Philip D. Freeman
Philip D. Freeman
Senior Vice President,
General Counsel and Secretary
