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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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): July 1, 1996
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PRONET INC.
(Exact name of issuer as specified in its charter)
DELAWARE 0-16029 75-1832168
(State or other (Commission File Number) (I.R.S. Employer
jurisdiction of Identification Number)
incorporation)
6340 LBJ FREEWAY 75240
DALLAS, TEXAS (Zip Code)
(Address of Principal
Executive Offices)
Registrant's telephone number, including area code: (214) 687-2000
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS.
On July 1, 1996, ProNet Inc. ("ProNet") acquired a nationwide license
(931.9125 MHz Radio Common Carrier ["RCC"] frequency) and associated system
equipment from Motorola, Inc. ("Motorola"). The network currently includes
approximately 400 base stations and sites in over 220 U.S. cities. The acquired
assets were previously used by Motorola to provide wireless communication
services. ProNet intends to use the assets acquired from Motorola to provide
paging and other wireless communication services. The purchase price of
approximately $43 million was paid in cash with $28 million of proceeds from
ProNet's recent equity offering and $15 million from its bank credit facility
with the First National Bank of Chicago, as Agent.
Motorola is one of the world's leading providers of wireless
communications, semiconductors, and advanced electronic systems, components, and
services. Motorola's major equipment businesses include cellular telephone,
two-way radio, paging and data communications, personal communications,
automotive, defense and space electronics and computers. Motorola
semiconductors power communication devices, computers and millions of other
products. Motorola's 1995 sales were approximately $27 billion.
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SIGNATURE
Pursuant to the requirements of the Securities Act of 1934, the Registrant
has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
PRONET INC.
(Registrant)
By: /s/ JAN E. GAULDING
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Jan E. Gaulding
Senior Vice President and
Chief Financial Officer
(principal financial and
accounting officer)
Date: July 12, 1996
