SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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): January 4, 2000
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MATEC Corporation
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(Exact name of registrant as specified in charter)
Maryland 1-4184 06-0737363
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
75 South Street, Hopkinton, MA 01748
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(Address of principal executive offices)
Registrant's telephone number, including area code: (508) 435-9039
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5. Other Events
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On January 4, 2000 pursuant to a purchase agreement dated
as of December 31, 1999 Registrant sold to Leggett & Platt,
Incorporated, of Carthage, Missouri 10,000 shares of Common
Stock, representing approximately 10% of the outstanding shares
of Common Stock, of Bergen Cable Technology, Inc. ("New
Bergen"), a Delaware corporation. The Registrant received
approximately $1,308,000 in cash at closing.
Leggett & Platt, Incorporated purchased all of the issued
and outstanding Common Stock of New Bergen for an aggregate
purchase price of $21,500,000 less interest bearing debt of New
Bergen at closing of $5,184,734 and certain other closing
adjustments. From such aggregate purchase price, escrow
accounts totaling approximately $2,187,000 were funded at
closing. The escrow balances will be distributed to the selling
shareholders, including approximately 10% to Registrant, less
any claims for indemnity thereon, on or before January 4, 2002.
The purchase price was the result of arms-length negotiations
between the parties.
Registrant acquired the shares of Common Stock of New
Bergen as part of the purchase price for the sale of the assets
of Registrant's wholly owned subsidiary, Bergen Cable
Technologies, Inc., on April 15, 1998.
The sale will result in a gain, which will be recorded in
Registrant's first quarter ending April 2, 2000.
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SIGNATURE
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.
MATEC Corporation
By: /s/ Michael J. Kroll
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Michael J. Kroll,
Vice President & Treasurer
Dated: January 13, 2000
