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U.S. 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): January 4, 2001
VERDANT BRANDS, INC.
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(Exact name of registrant as specified in its charter)
Minnesota 0-26507 41-0848688
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(State or other jurisdiction (Commission file number) (IRS employer
of incorporation) Identification No.)
9555 James Avenue South, Suite 200, Bloomington, Minnesota, 55431-2543
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(Address of principal executive offices)
Registrant's telephone number, including area code: (952) 703-3300
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Not Applicable
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(Former name or former address, if changed since last report)
Page 1 of 4 Pages
Exhibit Index Appears on Page 4
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Item 5. Other Events.
On December 27, 2000, Verdant Brands, Inc., a Minnesota corporation
("Verdant"), issued an "Update" letter to all shareholders of record as of
December 20, 2000 outlining the historical sequence of events of Verdant's
financial and managerial changes along with an update on creditors' status and
proposed plans for the future.
The shareholder letter describing an update on the Company's status, which
is filed as Exhibit 99.1 to this Form 8-K, is hereby incorporated herein by
reference.
On December 29, 2000, Verdant Brands, Inc., a Minnesota corporation
("Verdant"), announced the senior secured lender's notice of termination of its
Standstill Agreement and that it is unwilling to permit the continued use of its
collateral proceeds to fund operations in a way that allows the Company to
proceed in a normal operating mode. The Company announced it intends to seek new
financing, but is uncertain as to its ability to secure such financing or its
ability to do so on a timely basis..
The press release describing secured creditors notice to the Company, which
is filed as Exhibit 99.2 to this Form 8-K, is hereby incorporated herein by
reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits
Exhibit No. Description
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99.1 Shareholder letter updating company status
99.2 Press Release describing the secured creditors notice
of termination of Standstill Agreement with
the Company.
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Exhibit Index Appears on Page 4
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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.
Date: January 4, 2001
VERDANT BRANDS, INC.
By: /s/ H. Michael Blair
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H. Michael Blair
Chief Financial Officer
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INDEX TO EXHIBITS
Exhibit No. Description
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99.1 Shareholder letter updating company status
99.2 Press Release describing the secured creditors notice of
termination of Standstill Agreement with the Company.
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