SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K/A
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) October 13, 2000
----------------
FINET.COM, INC.
-------------------------------------------------------------------------------
(Exact Name of Registrant as Specified in Its Charter)
<TABLE>
<S> <C> <C>
Delaware 000-18108 94-3115180
--------------------------------------------------------------------------------------------
(State or Other Jurisdiction (Commission File Number) (I.R.S. Employer Identification No.)
of Incorporation)
</TABLE>
2527 CAMINO RAMON, SUITE 200, SAN RAMON, CALIFORNIA 94583
-------------------------------------------------------------------------------
(Address of Principal Executive Offices) (Zip Code)
(925) 242-6550
-------------------------------------------------------------------------------
(Registrant's Telephone Number, Including Area Code)
-------------------------------------------------------------------------------
(Former Name or Former Address, if Changed Since Last Report)
<PAGE>
Explanatory Note
This Amendment No. 1 to Current Report on Form 8-K is being filed in order
to amend Item 5 of the Current Report on Form 8-K filed on October 25, 2000, by
FiNet.com, Inc. (the "Company").
ITEM 5. OTHER EVENTS.
Common Stock Purchase Agreement
-------------------------------
On October 13, 2000, FINET.COM, INC. (the "Company") entered into a Common
Stock Purchase Agreement with seven (7) investors. Pursuant to the agreement,
the Company sold an aggregate of 18,500,000 shares of its common stock at a
purchase price of $0.40 per share (the "Private Placement"). The aggregate gross
proceeds received from the sale were $7,400,000. The Company has agreed to
register these shares for resale under applicable securities laws upon written
request of the purchasers, but not earlier than March 13, 2001. The securities
have not been registered under the Securities Act of 1933, as amended (the
"Securities Act"), and may not be offered or sold in the United States absent
registration or an applicable exemption from registration requirements.
In connection with the Private Placement, the Company, subject to the
approval of its stockholders, also agreed to issue to certain financial
advisors, as compensation for services in connection with the Private Placement,
6,000,000 warrants (the "Warrants") to purchase the Company's common stock. The
Warrants have a five (5) year term and are exercisable at a price of $0.75 per
share. The value of the Warrants has been determined by the Company to be
$2,200,000. The Company has agreed that if it decides to register under the
Securities Act any of its shares of common stock pursuant to a registration
statement it will include the shares covered by the Warrants in such
registration statement. Provided, such registration will only be undertaken by
the Company upon written request of the holders of the Warrants, received no
earlier than March 13, 2001. The securities have not been registered under the
Securities Act and may not be offered or sold in the United States absent
registration or an applicable exemption from registration requirements.
ITEM 7. EXHIBITS.
Exhibit 10.1* Form of Common Stock Purchase Agreement between the
Company and certain purchasers.
Exhibit 10.2* Form of Common Stock Purchase Warrant.
Exhibit 99.1* Press Release dated October 17, 2000, entitled
"FiNet.com Completes $7.4 Million
Private Equity Placement."
* Filed previously with the Current Report on Form 8-K of the Company,
dated October 25, 2000.
<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 THEREUNTO DULY AUTHORIZED.
FINET.COM, INC.
By: /s/ RICK COSSANO
------------------------------
Rick Cossano,
President and Chief Executive Officer
