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) May 1, 2000
SITEK, INCORPORATED
------------------------------------------------------
(Exact name of Registrant as Specified in Its Charter)
Delaware
----------------------------------------------
(State or Other Jurisdiction of Incorporation)
33-28417 95-4585824
------------------------ ----------------
(Commission File Number) (I.R.S. Employer
Identification No.)
1817 West 4th Street, Tempe, Arizona 85281
- ---------------------------------------- ----------
(Address of Principal Executive Offices) (Zip Code)
(602) 921-8555
----------------------------------------------------
(Registrant's Telephone Number, Including Area Code)
-------------------------------------------------------------
(Former Name or Former Address, if Changed Since Last Report)
<PAGE>
ITEM 5. OTHER EVENTS.
On March 29, 2000, the Registrant and a corporate investor entered into a Series
A Preferred Stock Purchase Agreement pursuant to which the Registrant issued
250,000 shares of its Series A Preferred Stock to the corporate investor and the
corporate investor paid Registrant $1.5 million in immediately available funds.
The Stock Purchase Agreement also provides for a possible future $1.5 million
investment by the corporate investor for an additional 250,000 shares subject to
certain conditions. The Series A Preferred Stock is convertible to common stock
at a certain exchange ratio, which is intially one-to-one, but which is subject
to adjustment upon certain events. Under the Stock Purchase Agreement, the
corporate investor was granted registration rights, rights of first refusal and
co-sale, as well as board observation rights. In addition to the equity
investment, the Registrant entered into an agreement for the development of
certain technology. Registrant is required to use the proceeds of the investment
in furtherance of such agreement.
2
<PAGE>
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.
SITEK, Incorporated
(Registrant)
Date: May 1, 2000 By: /s/ Don Jackson, Jr.
------------------------------------
Don Jackson, Jr., President, Director
and Chief Executive Officer
3
