UNITED STATES 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): August 13, 1996
---------------
FARMSTEAD TELEPHONE GROUP, INC.
(Exact name of registrant as specified in its charter)
Commission File Number: 0-15938
-------
Delaware 06-1205743
-------- ----------
(State or other jurisdiction of (IRS Employer
incorporation or organization) Identification No.)
81 Church Street,
East Hartford, CT 06108-3728
----------------- ----------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (860) 282-0010
--------------
ITEM 5. OTHER EVENTS
Effective August 13, 1996, Farmstead Telephone Group, Inc. (the "Company")
implemented a 1 for 10 reverse split of its 21,243,676 shares of Common Stock
outstanding (2,124,406 shares after the reverse stock split). The reverse split
was previously approved by stock holders at the Company's June 13, 1996 Annual
Shareholders Meeting. In connection with the reverse split, the Company's
1,835,727 outstanding Warrants were also proportionally adjusted to 183,579
Warrants with an adjusted exercise price of $5.00 per share.
On August 13, 1996, the Company also commenced a Rights Offering of one
million Units, each Unit consisting of one share of Common Stock, one Class A
Warrant and one Class B Warrant, to shareholders of record on August 12, 1996,
pursuant to a Form SB-2 registration statement which was declared effective
August 12, 1996 by the Securities and Exchange Commission. For the next 30 days
this offering will be available only to existing shareholders as of the record
date, after which time an investment firm retained by the Company will offer, on
a firm commitment basis, any remaining securities to qualified investors. The
Units will be offered at a price of $4.06 per Unit, which is the 10 day average
of the closing bid price of the Common Stock, after adjusting for the reverse
split.
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.
FARMSTEAD TELEPHONE GROUP, INC.
Dated: August 13, 1996 By: /s/ Robert G. LaVigne
--------------------------
Robert G. LaVigne
Vice President - Finance & Administration
(Principal Financial and Accounting Officer)