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) October 4, 1999
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GLENAYRE TECHNOLOGIES, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
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<S> <C> <C>
Delaware 0-15761 98-0085742
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
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5935 Carnegie Boulevard, Charlotte, North Carolina 28209
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (704) 553-0038
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Not applicable
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(Former name or former address, if changed since last report.)
Page 1 of 4 Pages
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ITEM 5. OTHER EVENTS.
The Registrant announced on October 4, 1999 that it had signed an
agreement for the sale of its microwave radio business which operates under the
name of Glenayre Western Multiplex. The Registrant's News Release dated October
4, 1999 is filed herewith as Exhibit 99 to this Report
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
99 Registrant's News Release dated October 4, 1999.
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.
GLENAYRE TECHNOLOGIES, INC.
By s/ Stanley Ciepcielinski
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Stanley Ciepcielinski
Executive Vice President
Dated: October 6, 1999
Page 2 of 4 Pages
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
EXHIBITS
FORM 8-K
CURRENT REPORT
Date of Report Commission File Number
October 4, 1999 0-15761
GLENAYRE TECHNOLOGIES, INC.
EXHIBIT INDEX
Exhibit No. Exhibit Description
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99 Glenayre Technologies, Inc. News
Release dated October 4, 1999
Page 3 of 4 Pages
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EXHIBIT 99
[GLENAYRE LOGO APPEARS HERE]
CORPORATE HEADQUARTERS
5935 Carnegie Boulevard
Charlotte, NC 28209 USA
tel 704 553 0038
url www.glenayre.com
News Release
Contact: Janet Cavalier, Glenayre
704 553 0038
David Lilly, Kekst and Company
PR for Ripplewood Holdings and
Leeward Technology
212 521 4800
GLENAYRE TECHNOLOGIES SIGNS AGREEMENT TO SELL
MICROWAVE RADIO BUSINESS
CHARLOTTE, N.C, Oct. 4, 1999 --Glenayre Technologies Inc. (Nasdaq: GEMS)
announced today that it has signed an agreement for the sale of its microwave
radio business to Ripplewood Holding LLC of New York and Leeward Technology
Partners of California. Under the agreement, Glenayre will sell the stock of
Western Multiplex Corporation to Ripplewood Holdings and Leeward Technology for
cash and retention of an approximate five-percent ownership in the microwave
radio business.
The transaction, anticipated to close during fourth quarter 1999, is subject to
certain closing conditions. At closing, Glenayre expects to receive cash of
approximately $36 million to $38 million.
Eric Doggett, president and chief executive officer of Glenayre, commented,
"Completion of the Western Multiplex deal will allow us to better align Glenayre
with the most appropriate markets for the company's strategic objectives and
provides additional financial resources to accomplish our goals."
For over 30 years, Glenayre Technologies Inc. has been developing and providing
leading edge personal telecommunication systems, including products for paging
and cellular networks. Glenayre products are installed in over 100 countries,
Additional information about Glenayre is available at: http://www.glenayre.com.
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