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):
February 25, 1998
SPARTA SURGICAL CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 1-11047 22-2870438
(State or other juris- (Commission (I.R.S. Employer
diction of incorporation) File Number) ID. Number)
Bernal Corporate Park
7068 Koll Center Parkway, Pleasanton, CA 94566
(Address of principal executive offices)
Registrant's telephone number, including area code (510)417-8812
not applicable
(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
On February 23, 1998, the Nasdaq Stock Market materially increased the
financial and other criteria necessary to qualify for continued listing on the
Nasdaq National and SmallCap Markets. As of that date the Registrant was not in
compliance with any of the new net tangible, market capitalization or net income
requirements for continued listing on the Nasdaq SmallCap Market. On February
25, 1998, the Nasdaq Stock Market, Inc. notified the Registrant that the
Registrant's securities will be delisted from the Nasdaq SmallCap Market
effective with the close of business on March 4, 1998. The Registrant intends to
appeal Nasdaq's decision however, no assurance can be given that the
Registrant's appeal will be successful. If the Registrant's appeal is
unsuccessful, its securities will be delisted from the Nasdaq SmallCap Market.
Trading, if any, in the Registrant's securities would thereafter be conducted in
the OTC Bulletin Board which could substantially reduce the markets for the
Registrant's securities.
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.
SPARTA SURGICAL CORPORATION
(Registrant)
By: Thomas F. Reiner
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Thomas F. Reiner, Chairman of
the Board, President & CEO
Dated: February 27, 1998
