UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
1. Name and Address of Reporting Person
Tyco International Ltd.
The Gibbons Building
10 Queen Street
Hamilton Bermuda HM11
2. Date of Event Requiring Statement (Month/Day/Year)
10/26/99
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Issuer Name and Ticker or Trading Symbol
Praegitzer Industries, Inc. (PGTZ)
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director (X) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
6. If Amendment, Date of Original (Month/Day/Year)
7. Individual or Joint/Group Filing (Check Applicable Line)
( ) Form filed by One Reporting Person
(X) Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Beneficially Owned |
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1. Title of Security |2. Amount of |3. Ownership |4. Nature of Indirect |
| Securities | Form: | Beneficial Ownership |
| Beneficially | Direct(D) or | |
| Owned | Indirect(I) | |
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<S> <C> <C> <C>
Common Stock | (1) | (1) | (1) |
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(1) See attached explanatory note | | | |
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Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly. (Over)
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(1) On October 26, 1999, Sigma Circuits, Inc., a Delaware company
("Sigma Circuits") and an indirect wholly owned subsidiary of Tyco International
Ltd., a Bermuda company ("Tyco"), and T Merger Sub (OR), Inc., an Oregon company
("Merger Sub") and a direct wholly owned subsidiary of Sigma Circuits, Inc.,
entered into an Agreement and Plan of Merger (the "Merger Agreement") with
Praegitzer Industries, Inc. (the "Company"). Pursuant to the Merger Agreement,
Merger Sub has commenced a tender offer (the "Offer") for the common stock of
the Company (the "Common Stock"), and, following the successful consummation of
the Offer, the parties will take the necessary action so that Merger Sub will be
merged with the Company (the "Merger"), and the Company will become an indirect
wholly owned subsidiary of Tyco. The obligations of Sigma Circuits and Merger
Sub under the Merger Agreement are guaranteed by Tyco.
In connection with the Merger Agreement, Robert L. Praegitzer, the majority
shareholder of the Company, has entered into a Shareholder's Agreement (the
"Shareholder's Agreement") with Sigma Circuits and Merger Sub. Under the terms
of the Shareholder's Agreement, Mr. Praegitzer has agreed, among other things,
to tender his shares of Common Stock in the Offer, or, in the case of shares
that are subject to certain pledge arrangements and which cannot be tendered in
the Offer, to sell such shares to Merger Sub following the successful
consummation of the Offer. Mr. Praegitzer has also agreed to vote his shares
against any transaction that is inconsistent with the Offer and the Merger. The
Shareholder's Agreement terminates upon termination of the Merger Agreement in
accordance with its terms.
Tyco, Sigma Circuits and Merger Sub are referred to as the "Reporting
Persons." By reason of the arrangements under the Merger Agreement and the
Shareholder's Agreement, the Reporting Persons could be deemed to beneficially
own the shares owned by Mr. Praegitzer. In accordance with Rule 16a-1(a)(4), the
Reporting Persons disclaim beneficial ownership of such shares, and the filing
of this Form 3 shall not be construed as an admission of such beneficial
ownership or that the Reporting Persons are obligated to file this Form 3.
The Reporting Persons have filed a Tender Offer Statement on Schedule
14D-1, dated November 1, 1999 (the "Schedule 14D-1"). The Schedule 14D-1,
including its exhibits, contains a discussion of the Offer and the Merger, and
reference is made to the Schedule 14D-1 for more complete information concerning
the matters referred to above.
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Form 3 (continued) Table II - Derivative Securitites Beneficially Owned (e.g., puts, calls, warrants, options, convertible
securities)
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Table II -- Derivative Securitites Beneficially Owned |
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1.Title of Derivative |2.Date Exer- |3.Title and Amount | |4. Conver-|5. Owner- |6. Nature of Indirect |
Security | cisable and | of Underlying | |sion or |ship | Beneficial Ownership |
| Expiration | Securities | |exercise |Form of | |
| Date(Month/ |-----------------------|---------|price of |Deriv- | |
| Day/Year) | |Amount |deri- |ative | |
| Date | Expira- | |or |vative |Security: | |
| Exer- | tion | Title |Number of|Security |Direct(D) or | |
| cisable | Date | |Shares | |Indirect(I) | |
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<S> <C> <C> <C> <C> <C> <C> <C>
___________________________________________________________________________________________________________________________________|
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</TABLE>
Explanation of Responses:
***Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S. C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure
/s/ Mark H. Swartz,
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Executive Vice President
and Chief Financial Officer
Signature of Reporting Person
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DATE
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
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Joint Filer Information
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Name: Sigma Circuits, Inc.
Address: c/o Tyco International Ltd.(US) Inc.
One Tyco Park
Exeter, NH 03833
Designated Filer: Tyco International Ltd.
Issuer & Ticker Symbol: Praegitzer Industries, Inc. (PGTZ)
Date of Event Requiring
Statement November 5, 1999
Signature: /s/ Jeffrey D. Mattfolk
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Jeffrey D. Mattfolk
Vice President
Name: T Merger Sub (OR), Inc.
Address: c/o Tyco International (US) Inc.
One Tyco Park
Exeter, NH 03833
Designated Filer: Tyco International Ltd.
Issuer & Ticker Symbol: Praegitzer Industries, Inc. (PGTZ)
Date of Event Requiring
Statement November 5, 1999
Signature: /s/ Jeffrey D. Mattfolk
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Jeffrey D. Mattfolk
Vice President
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