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: March 24, 1997
(Date of earliest event reported)
INTERNET COMMUNICATIONS CORPORATION
(Exact name of registrant as specified in its charter)
Colorado 0-19578 84-1095516
(State of incorporation) (Commission file number) (IRS Employer
Identification
No.)
7100 E. Belleview Ave., Suite 201, Englewood, CO 80202
(Address of principal executive offices) (Zip Code)
(303) 770-7600
(Registrant's telephone number)
Not Applicable
(Former name and address)
Item 5. Other Events
On April 3, 1997, Internet Communications Corporation announced
the execution on March 24, 1997, of an agreement to sell $3 million of
common stock to Interwest Group, Inc., a wholly-owned subsidiary of
Anschutz Company. Interwest Group agreed to purchase 631,597 common
shares at $4.75 per common stock share, and would receive warrants to
purchase 63,158 shares of common stock with an exercise price of $5.70
per share. The additional common shares would increase the beneficial
ownership position of Anschutz Company from 46.0% to 52.3%, and upon
exercise of the warrants, the beneficial ownership position would increase
to 52.9%.
Closing of the purchase is subject to a number of conditions,
including certain amendments or waivers under Internet's principal bank
loan. If the conditions to closing are met, closing is anticipated to
occur near the end of April 1997.
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.
Date: April 4, 1997 INTERNET COMMUNICATIONS CORPORATION
By: /s/ Tim Griffin
Tim Griffin
Vice President of Network
Systems
