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): December 12, 1997
AIR & WATER TECHNOLOGIES CORPORATION
(Exact Name of Registrant as Specified in Charter)
Delaware 033-017921 13-3418759
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
U.S. Highway 22 West and Station Road
Branchburg, New Jersey 08876
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (908) 685-4600
No Change
(Former Name or Former Address, if Changed Since Last Report)
ITEM 5. OTHER EVENTS
On December 12, 1997, Air & Water Technologies
Corporation (the "Company") announced that its $70 million
senior secured credit facility (the "Bank Credit
Facility"), scheduled to expire on March 31, 1998, has
been extended to December 11, 1998, and that simultaneously
Societe Generale will replace all other banks under
the Bank Credit Facility. The Company had previously
announced that it was in discussions regarding an extension
of the Bank Credit Facility. The extension also provides
for relief of certain financial covenants in the Bank
Credit Facility. The extension of the Bank Credit Facility
effectively extends current amendments of the Bank Credit
Facility and a waiver of the Company's compliance with
certain covenants under the Bank Credit Facility until the
earlier of the consummation of transactions contemplated by
the recently announced recapitalization, or until March 22,
1998, which amendments and waiver would have terminated on
December 15, 1997, had the Bank Credit Facility not been
extended. On December 12, 1997, the Company issued a press
release concerning the extension of the Bank Credit
Facility, a copy of which is attached hereto as Exhibit
99.1 and is incorporated by reference herein.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS.
(c) Exhibits
99.1 Press release of the Company dated
December 12, 1997.
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.
AIR & WATER TECHNOLOGIES CORPORATION
By: /s/ Douglas A. Satzger, Esq.
_________________________________
Name: Douglas A. Satzger, Esq.
Title: Senior Vice-President
Date: December 16, 1997
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION PAGE NO.
99.1 Press release of the Company
dated December 12, 1997.
EXHIBIT 99.1
CONTACT: ROBERT S. VOLLAND
AIR & WATER TECHNOLOGIES CORPORATION
(908) 685-4600
FOR IMMEDIATE RELEASE
AIR & WATER TECHNOLOGIES CORPORATION
EXTENDS BANK CREDIT FACILITY
BRANCHBURG, NEW JERSEY, December 12, 1997 -- Air &
Water Technologies Corporation (AMEX: AWT) announced
today that the $70 Million credit facility, scheduled
to expire on March 31, 1998, has been extended to
December 11, 1998. Simultaneously, Societe Generale
will replace all other banks in the senior secured
debt. AWT had previously announced that it was in
discussions regarding an extension of the credit
facility. The extension also provides for relief of
certain financial covenants in the credit facility.
Current amendments had been scheduled to expire on
December 15, 1997.
Through its subsidiaries, Air & Water Technologies
Corporation provides a comprehensive range of services
and technologies for the operation, maintenance and
management of water and wastewater systems;
engineering, design and construction of water and
wastewater facilities and the remediation of
contaminated soil.
