SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
Current Report Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
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Date of Report (date of earliest event reported): November 14, 1997
SYNETIC, INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-17822 22-2975182
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(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
669 River Drive, River Drive Center II,
Elmwood Park, New Jersey 07407
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (201) 703-3400
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Item 5. Other Events.
On November 14, 1997, Synetic, Inc. ("Synetic") announced that its
wholly owned subsidiary, Porex Corporation ("Porex"), filed a registration
statement with the Securities and Exchange Commission relating to the initial
public offering by Porex of 2,500,000 shares of its Common Stock. In addition,
Porex will grant the underwriters options to purchase up to an additional
375,000 shares of Common Stock to cover over-allotments, if any. Porex expects
to sell approximately 14% of Porex Common Stock in the offering at an
anticipated price of between $14.50 and $16.50 per share.
Porex is a developer, manufacturer and distributor of porous plastic
products. Synetic expects that the offering will be completed in early 1998 and
Porex intends to use the proceeds from the offering for general corporate
purposes, which may include acquisitions. A copy of Synetic's press release
announcing the offering is filed as an exhibit hereto and incorporated by
reference herein.
<PAGE>
(c) Exhibits.
Exhibit
Number Description
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99.1 Press release of Synetic, dated November 14, 1997.
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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.
SYNETIC, INC.
(Registrant)
Date: November 18, 1997 By /s/ Anthony Vuolo
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Name: Anthony Vuolo
Title: Vice President and
Chief Financial
Officer
EXHIBIT 99.1
Press Release
[Synetic Letterhead]
FOR IMMEDIATE RELEASE
Contact: Anthony Vuolo
Vice President
and Chief Financial Officer
(201) 703-3400
POREX CORPORATION, A WHOLLY OWNED SUBSIDIARY OF SYNETIC, INC., FILES
A REGISTRATION STATEMENT TO OFFER 2,500,000 SHARES OF COMMON STOCK
IN AN INITIAL PUBLIC OFFERING
ELMWOOD PARK, NJ, November 14, 1997--Synetic, Inc. (NASDAQ:SNTC) and
its wholly owned plastics subsidiary, Porex Corporation ("Porex"), announced
that Porex has filed a registration statement with the Securities and Exchange
Commission today relating to the initial public offering by Porex of 2,500,000
shares of its Common Stock. In addition, Porex will grant the underwriters
options to purchase up to an additional 375,000 shares of Common Stock to cover
over-allotments, if any. Porex expects to sell approximately 14% of Porex Common
Stock in the offering at an anticipated price of between $14.50 and $16.50 per
share. The Company expects that the offering will be completed in early 1998 and
intends to use the proceeds from the offering for general corporate purposes,
which may include acquisitions. The managing underwriters of the offering in the
United States will be Merrill Lynch & Co. and Prudential Securities Incorporated
and the managing underwriters of the offering outside of the United States will
be Merrill Lynch International and Prudential-Bache Securities.
Porex is a developer, manufacturer and distributor of porous plastic
products used in a wide range of healthcare, consumer and industrial
applications.
Prospectuses with respect to the offering may be obtained, when
available, from:
Merrill Lynch & Co.
World Financial Center
North Tower
250 Vesey Street
New York, New York 10281
Attention: Preliminary Prospectus Department
and
Prudential Securities Incorporated
111 Eighth Avenue
New York, New York 10011
Attention: Prospectus Department
A registration statement relating to these securities has been filed
with the Securities and Exchange Commission, but has not yet become effective.
These securities may not be sold nor may offers to buy be accepted prior to the
time the registration statement becomes effective. This communication shall not
constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of these securities in any State in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such State.
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