<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported): May 29, 1998
Media Logic, Inc.
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(Exact name of registrant as specified in its charter)
Massachusetts 1-9605 04-2772354
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
310 South Street
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Plainville, MA 02762
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (508) 695-2006
Exhibit Index on page 4.
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Item 5. Other Events.
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On May 29,1998, the Registrant publicly disseminated a press release
announcing that the Registrant had completed a financing in which the Registrant
raised gross proceeds of $1,850,000. The information contained in the press
release is incorporated herein by reference and filed as Exhibit 99.1 hereto.
Item 7. Financial Statements and Exhibits.
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(c) Exhibits.
99.1 The Registrant's Press Release dated May 29, 1998.
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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.
MEDIA LOGIC, INC.
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(Registrant)
Date: June 5, 1998 /s/ John T. Loughran
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John T. Loughran
Principal Accounting Officer
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EXHIBIT INDEX
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<TABLE>
<CAPTION>
Exhibit Sequential
Number Description Page Number
- ------ ----------- -----------
<S> <C> <C>
99.1 The Registrant's Press Release 5
dated May 29,1998
</TABLE>
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<PAGE>
MEDIALOGIC EXHIBIT 99.1
310 South Street
Plainville, MA 02762
Fax: 508-695-8593
FOR IMMEDIATE RELEASE
Steve Hodge Rob Morton
MediaLogic PAN Communications
508-695-2006 978-474-1900
[email protected]
MEDIALOGIC ANNOUNCES COMPLETION OF LATEST ROUND OF
FUNDING; INDUSTRY SPECIALISTS AND COMPANY OFFICIALS MAKE
SIGNIFICANT CONTRIBUTION
Plainville, MA -- May 29, 1998 -- MediaLogic Inc. (AMEX: TST), a leading
developer and manufacturer of automated tape library back-up solutions, today
announced that it had completed a private placement of the Company's common
stock. Gross proceeds from the placement was $1,850,000. This equates to
2,048,895 shares at a price of 90 cents a share.
Greg Scorziello, President and Chief Executive Officer said, "It is noteworthy
that a significant portion of the funds have come from individuals who are
associated with the Company. Michael Salter, Chairman of the Board, and others
have committed funds to support MediaLogic. Additionally, almost forty per cent
of the funding has been secured from a large distributor of on line and near
line storage products in Southern Europe. We are working on an agreement to
establish them as the sole distributor for MediaLogic products in the region. We
believe that their involvement shows confidence in the Company's future."
Scorziello added, "With this latest round of funding, we believe that MediaLogic
is extremely well positioned to gain a sizeable share of the rapidly expanding
market for automated tape libraries. Our unique library technology offers
significant benefits in simplified installation, operation and servicing; they
are modular and highly scalable, and equipped for high availability and
reliability. In addition, our open architecture and media independence helps to
ensure both short term and long term protection of investment. We also offer the
highest capacity combined with the smallest footprint of any unit in the
industry. Our goal is to position MediaLogic as a significant player in the
rapidly expanding, data storage marketplace. This new funding will help to
position the Company to achieve that goal."
The Company wishes to take advantage of the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995 with respect to statements that
may be deemed
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<PAGE>
to be forward-looking statements under the Act. Such forward-looking statements
may include, but are not limited to, statements regarding development and sales
of the Company's tape library product line. The Company cautions that numerous
factors could cause actual results to differ materially from any forward-looking
statements made by the Company.
The Company does not fully satisfy all of the American Stock Exchange guidelines
for continued listing and there is no assurance that this listing will be
continued.
About MediaLogic
MediaLogic Inc., founded in 1982, is a leading developer and manufacturer of
innovative storage solutions, which automate and simplify the centralization and
security of business data. Located in Plainville, Massachusetts, MediaLogic's
headquarters can be reached at 508-695-2006, or http://www.medialogicinc.com.
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Company names and/or Product names are acknowledged as being trademarks or
registered trademarks of their respective holders.
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