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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 earliest event reported) February 10, 1997
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First Pacific Networks, Inc.
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(Exact name of registrant as specified in charter)
Delaware 0-20238 77-074188
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
871 Fox Lane, San Jose, California 95131
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (408) 943-7600
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(Former name or former address, if changed since last report)
This Current Report, including exhibits, contains 5 pages.
The Exhibit Index is located on page 4.
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ITEM 3.
On February 10, 1997, the Company filed for relief under Chapter 11
of the United States Bankruptcy Code (the "Bankruptcy Code"). The petition
was filed in the United States Bankruptcy Court for the Northern District of
California and was assigned case number 97-5-1077. The Company is operating
as debtor-in-possession under the Bankruptcy Code. A copy of the press
release issued by the Company is attached hereto as an exhibit hereto. The
Company has limited capital available for reorganization and is seeking a
strategic relationship or capital infusion for such purpose. Any trading of
the Company's stock at this time should be considered highly speculative.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statement of Business Acquired.
Not Applicable.
(b) Pro Forma Financial Information.
Not Applicable.
(c) Exhibits.
99.1 Press Release of the Company dated February 11, 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.
FIRST PACIFIC NETWORKS, INC.
Date: February 13, 1997 By: /s/ Kenneth W. Schneider
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Kenneth W. Schneider
Chief Financial Officer and
Corporate Secretary
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EXHIBIT INDEX
Sequentially
Exhibit No. Description Numbered Page
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99.1 Press Release of the Company dated February
11, 1997. 5
4
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EXHIBIT 99.1
CONTACT:
James R. Hirschy Kenneth W. Schneider
First Pacific Networks, Inc. First Pacific Networks, Inc.
(408) 943-7602 (408) 943-7642
FOR IMMEDIATE RELEASE
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SAN JOSE, CA -- FEBRUARY 11, 1997 -- First Pacific Networks, Inc. (NASDAQ:FPNX)
("FPN") today announced that it has filed a voluntary petition for bankruptcy
protection and reorganization under Chapter 11 of the U.S. Bankruptcy Code.
As previously announced, the Company stated that this action was taken in an
effort to return the Company to financial stability. The Company also stated
that the Board is continuing to seek long-term financing and has directed
management to evaluate all serious proposals with regard to the sale,
acquisition or merger of the Company, as well as the sale or licensing of the
Company's proprietary technologies.
First Pacific Networks, Inc. develops and markets products for telephone,
data and energy management communications over hybrid fiber/coaxial networks,
both domestically and internationally.
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