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): January 10, 2001
MICROAGE, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 0-15995 86-0321346
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1330 W. SOUTHERN AVENUE, TEMPE, ARIZONA 85282
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(Address of principal executive offices) (Zip code)
Registrant"s telephone number, including area code (480) 366-2000
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Not applicable.
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(Former name or former address, if changed since last report.)
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ITEM 2. DISPOSITION OF ASSETS
On January 10, 2001, MicroAge, Inc. ("MicroAge") and its wholly-owned
subsidiary, MicroAge Technology Services, L.L.C. ("MTS") completed the sale to
CompuCom Systems, Inc. ("CompuCom") of substantially all of the assets and
business of MTS. The transaction was approved by the United States Bankruptcy
Court for the District of Arizona pursuant to an order dated December 22, 2000.
The assets of MTS purchased by CompuCom include field equipment, office
leases, accounts receivable, inventory and customer service contracts.
Proceeds to the MicroAge estate arising from the sale, in terms of direct
cash consideration payable and assumption of liabilities, are anticipated to be
approximately $85,000,000. Based on these proceeds and remaining assets in the
estate and a review of outstanding unsecured creditors' claims against the
estate, MicroAge believes that current asset and debt structures indicate that
holders of MicroAge common stock will not receive distributions under any
ultimate plan of reorganization or liquidation process.
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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.
MICROAGE, INC.
Date: January 10, 2001 By: /s/ James H. Domaz
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James H. Domaz
Vice President, Corporate Counsel
and Secretary
