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 19, 1997
Electrosource, Inc.
(Exact name of registrant as specified in its charter)
Delaware 0D16323 742466304
(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification No.)
incorporation)
2809 Interstate Highway 35 78666-5930
South (Zip Code)
San Marcos, Texas
(Address of principal executive
offices)
Registrant's telephone number, including area code: (512)753-6500
Page 1 of 5 Pages
An Exhibit Index appears on page 4
Item 5. Other Events
On December 19, 1997, Electrosource, Inc. (the ORegistrantO)
entered into agreements for the sale of certain convertible
securities. Pursuant to Rule 135c under the Securities Act of
1933, the Registrant has filed a press release relating to these
agreements under cover of this Current Report on Form 8-K.
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.
ELECTROSOURCE, INC.
By: /s/ James M. Rosel
James M. Rosel
Vice President Finance and General Counsel
Date: December 23, 1997
EXHIBITS
Exhibit Page
Number
1 Press release relating to sale of 5
securities
Electrosource, Inc.
2809 Interstate 35 South, San Marcos, Texas 78666-5930 USA
Tel: 512-753-6500 Fax: 512-353-3391
www.electrosource.com
Manufacturers of the Horizonr C2M Battery
ELECTROSOURCE NEWS
CONTACTS: Robin Roberson Mark Trinske,
Electrosource, Inc. Trinske Communications, Ltd.
(512) 753-6500 (303) 665-7760
[email protected] [email protected]
CORNING TO INVEST ADDITIONAL $2 MILLION IN ELECTROSOURCE
San Marcos, Texas - (December 23, 1997) - ELECTROSOURCE,
INC. (NASDAQ: ELSI) announced today that it has a commitment for
a $2 million investment in the form of convertible debt from
Corning Incorporated (NYSE: GLW). Electrosource has received the
first $1 million under the agreement, with the balance is
available over the next sixty days. The debt may be converted
into common stock or into convertible preferred stock at the
option of Corning. Conversions into common stock will be at a
price $1.00 to $1.50 above the closing price for Electrosource
common stock on December 19, 1997, the date on which the
Agreement was signed.
In March 1997, Corning invested $4 million in Electrosource
in the form of a five-year convertible note and received a two-
year option to purchase 500,000 additional shares. As part of the
new $2 million commitment, the options were repriced.
The securities sold have not been registered under the
Securities Act of 1933 and may not be offered or sold in the
United States absent registration or an applicable exemption from
registration requirements.
Electrosource, headquartered in San Marcos, Texas, designs,
manufactures and markets proprietary advanced energy storage
technologies and systems. Additional information about the
company is located on the internet at www.electrosource.com.
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