SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
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): June 15, 1999
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GEOTEK COMMUNICATIONS, INC.
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(Exact name of registrant as specified in charter)
Delaware 0-17581 22-2358635
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(State of other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
102 Chestnut Ridge Road, Montvale, New Jersey 07645
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 201-930-9305
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N/A
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(Former name or former address, if changed since last report)
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Item 5. Other Events
As previously reported by Geotek Communications, Inc. (the "Company"),
on February 12, 1999 the Company agreed to sell all of its 191 900 MHz licenses
to Nextel Communications, Inc. for a purchase price of $150 million, subject to
Bankruptcy Court and regulatory approvals.
On June 15, 1999, Nextel sent a letter to the Company indicating that
Nextel had determined not to continue its efforts to obtain regulatory approvals
allowing Nextel to acquire certain of Geotek's FCC Licenses located in cities
subject to a Consent Decree between Nextel and the United States of America
("Phase II Licenses"). The Phase II Licenses were to be sold to Nextel for
$130,839,000 (in cash or Nextel common stock) of the $150 million total purchase
price. To date, the Agreement has not been terminated. If the Agreement is
terminated as to the Phase II Licenses, then, pursuant to the Debtors' Second
Amended Consolidated Plan of Liquidation dated as of May 21, 1999 (the "Plan"),
the unsecured creditors of Geotek shall not receive or retain any property under
the Plan.
Pursuant to the Plan, the Debtors' Preferred Stock and Common Stock
will be canceled upon the effective date of the Plan. The holders of Debtors'
Preferred Stock and Common Stock will not receive or retain any property under
the Plan.
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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.
GEOTEK COMMUNICATIONS, INC.
Date: July 1, 1999 By: /s/ Anne E. Eisele
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Name: Anne E. Eisele
Title President and CFO
