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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) July 21, 2000
USTMAN TECHNOLOGIES, INC.
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(Exact name of registrant as specified in its charter)
California 0-16011 95-2873757
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
formation)
12265 W. Bayard Ave. , No. 110, Lakewood, Co. 80228
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (303) 986-8011
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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. Acquisition or Disposition of Assets.
On July 21, 2000, USTMAN Technologies, Inc. (the "Company") executed
a definitive Asset Purchase Agreement with Veeder-Root Service
Company to sell substantially all of its assets to Veeder-Root for
$17.158 million in cash. The Company presently intends on using the
proceeds of the sale to repay indebtedness, pay transaction
expenses, and partially pay the liquidation preference of its Series
A Preferred Stock. As a consequence, it is not presently expected
that there will be funds available for distribution to common
stockholders.
The Company's majority stockholders, which also own all of the
Series A Preferred Stock, have agreed to vote in favor of the
transaction. The consummation of the transaction is subject to the
satisfaction of customary closing conditions. The parties presently
anticipate that the transaction will close in September of this year
after an Information Statement has been distributed to all
shareholders.
Item 7. Financial Statements and Exhibits
The following are filed as Exhibits to this Current Report on Form
8-K:
1. Press Release issued by the Company on July 21, 2000; and
2. Asset Purchase Agreement by and between the Company and
Veeder-Root Service Company dated July 21, 2000.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly authorized and caused the undersigned to sign this
Report on the Registrant's behalf.
USTMAN TECHNOLOGIES, INC.
By: /s/ Dan R. Cook
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Dan R. Cook, President
Dated: July 27, 2000
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