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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 Event)
July 20, 1995 (July 14, 1995)
CRAY COMPUTER CORPORATION
(Exact name of registrant as specified in its charter)
Delaware
(State of Incorporation)
0-18072 84-1120275
(Commission file number) (I.R.S. Employer Identification Number)
1110 Bayfield Drive, Colorado Springs, Colorado 80906
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (719) 579-6464
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ITEM 5. OTHER EVENTS.
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Other Event No. 1: On July 14, 1995 the Registrant's Board of Directors passed
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a resolution whereby the Registrant requested voluntary delisting from the NASDQ
Market. The delisting request is directly related to the Registrant's
forthcoming Chapter 11 Plan whereby the Registrant will liquidate its assets
with approval of the Bankruptcy Court. The NASDAQ Stock Market, Inc. was
notified of this request on July 14, 1995.
Other Event No. 2: The Registrant issued the following press release on July 14,
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1995:
CRAY COMPUTER CORPORATION BOARD OF DIRECTORS
AUTHORIZES CHAPTER 11 PLAN
COLORADO SPRINGS, CO., JULY 14, 1995-Cray Computer Corporation announced today
that its Board of Directors has authorized and directed Officers of the
Corporation to take all steps they deem necessary or appropriate to prepare and
implement a Chapter 11 Plan pursuant to which all or most of the assets of the
Corporation will be sold for the benefit of the Corporation's creditors and, to
the extent feasible, the benefit of the shareholders of the Corporation.
Management of the Corporation believes that a liquidating distribution to its
shareholders is unlikely.
Since filing under Chapter 11 of the United States Bankruptcy Code in the United
States Bankruptcy Court for the District of Colorado on March 24, 1995, the
Officers of the Corporation have pursued the possibility that the Corporation
could emerge from its Chapter 11 bankruptcy as a going concern. These Officers
have concluded, and the Board of Directors has agreed, that the Corporation will
not be able to continue its business. The Corporation will pursue the
liquidation of its assets pursuant to a Chapter 11 Plan to be prepared and
presented to the Bankruptcy Court.
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ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
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Exhibits
None
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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.
CRAY COMPUTER CORPORATION
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DATE: July 20, 1995 BY: /s/ WILLIAM G. SKOLOUT
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William G. Skolout
Vice President and
Chief Financial Officer
