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): February 23, 2000
OSICOM TECHNOLOGIES, INC.
(Exact name of Registrant as specified in charter)
Commission File number: 0-15810
New Jersey 22-2367234
(State or other jurisdiction of (IRS Employer Identification Number)
incorporation or organization)
2800 28th Street, Suite 100
Santa Monica, California 90405
(Address of principal executive offices) (Zip Code)
(310) 581-4030
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
On March 3, 2000, Sorrento Networks, Inc. ("Sorrento"), one of our
subsidiaries, completed the sale of approximately 8.9 million shares of its
Series A Convertible Preferred Stock raising proceeds of approximately $46.8
million. The shares were sold to a group of investors, including an affiliate of
United Pan-Europe Communications N.V. ("UPC") and Telcom-SNI Investors, L.L.C.
In addition, Sorrento entered into Strategic Alliance and Equipment
Purchase Agreements with UPC on March 3, 2000. Under the terms of those
agreements, UPC has agreed to purchase Sorrento's optical networking products,
subject to certain evaluations, over the next three years for use in its
network. In addition, UPC has agreed to make Sorrento its preferred supplier of
optical networking equipment in all cases where Sorrento's products are
available at prices and with the functionality required by UPC's network, and
Sorrento has agreed to develop products designed for use in UPC's network. UPC
and Sorrento also contemplate working together on joint sales and marketing
initiatives.
Sorrento also entered into Strategic Alliance and Equipment Purchase
Agreements with AT&T Broadband Newtork Solutions on February 23, 2000, and an
Equipment Purchase Agreement with Sistel on February 29, 2000. Sorrento develops
and markets metropolitan optical networking systems that are used in interoffice
and access telecommunications networks.
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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 hereunto duly authorized.
OSICOM TECHNOLOGIES, INC.
DATE: March 20, 2000 By: /s/Christopher E. Sue
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Christopher E. Sue
Vice-President Finance
