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, 1996
QUADRAX CORPORATION
(Exact Name of Registrant as Specified in Charter)
Delaware 0-16052 05-0420158
(State or (Commission File Number) (IRS Employer
Other Jurisdiction Identification
of Incorporation) No.)
300 High Point Avenue Portsmouth, RI 02871
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (401) 683-6600
Not Applicable
(Former Name or Former Address, If Changed Since Last Report.)
ITEM 5. Other Events
On October 4, 1996, Registrant issued a press release announcing that it
had adjusted the purchase price of common stock acquirable upon the
exercise of its Class C Warrants to $3.33 from the previous price of $4.53.
The Company also adjusted the number of shares that could be purchased by
the exercise of the Class C Warrants to 4.3264 shares per warrant.
See the Company's press release attached as Exhibit No. 99.1
(c) Exhibits.
99.1 Company's press release dated October 4, 1996.
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.
Quadrax Corporation
October 8, 1996 /s/ James J. Palermo
(Date) James J. Palermo, Chairman
and Chief Executive Officer
October 8, 1996 /s/ Edward A. Stoltenberg
(Date) Edward A. Stoltenberg,
Chief Financial Officer
and Principal Accounting
Officer
quadrax
FOR IMMEDIATE RELEASE: October 4, 1996
CONTACT: Edward A. Stoltenberg, C.F.O., Quadrax Corporation,
tel. (401) 683-6600
Hal Levine/Marty Cohen, The Levine Group,
tel. (212) 682-8875
QUADRAX ADJUSTS CLASS C WARRANT PURCHASE PRICE
PORTSMOUTH, RI--Quadrax Corporation (Nasdaq-Small Cap
Issues: QDRX) announced today it had adjusted the purchase
price of common stock acquirable upon the exercise of its
Class C warrants to $3.33 from the previous price of $4.53,
which was set on September 1, 1995. The number of shares
purchasable upon exercise of each Class C warrant was also
adjusted to 4.3264 shares per warrant compared to 3.18 shares
as previously established on September 1, 1995.
Quadrax Corporation produces thermoplastic composite
materials using its proprietary fabrication and
manufacturing processes for a wide range of high-performance
aerospace, commercial and consumer products.
Note: Quadrax's latest news releases are available at no
charge by dialing 1-800-758-5804, ext. 728452, or at
http://www.prnewswire.com on the Internet.
Quadrax Corporation
300 High Point Avenue, Portsmouth, RI 02871
Tel: (401)683-6600 Fax: (401)683-6606
