SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
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 23, 1997
RENTECH, INC.
(Exact name of registrant as specified in charter)
Colorado 0-19260 84-0957421
(State or other Commission I.R.S. Employer
jurisdiction of File No. Identification No.
incorporation or
organization)
1331 17th Street, Suite 720, Denver, Colorado 80202
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (303) 298-8008
Item 5. Other Events.
Rentech, Inc. extended its right to purchase the assets of Okon, Inc.
from January 24, 1997 to March 14, 1997. Okon, Inc. is a Lakewood, Colorado
company engaged in the business of producing and selling water repellent
sealers and stains for wood, concrete and masonry. In order to provide the
$50,000 in cash required for extension of the closing, Rentech made a
private placement of 1,479,000 shares of its $.01 par value common stock on
January 23, 1997 for $73,950. Completion of the acquisition depends upon
Rentech's ability to obtain capital in the amount of $950,000, the remaining
cash balance for the purchase. The remainder of the purchase price in the
amount of $300,000 would be payable according to the terms of a promissory
note payable in 12 monthly installments commencing one year after the
closing. The Okon transaction is subject to other material terms and
conditions as described in the purchase agreement filed as an exhibit to
Rentech's Current Report on Form 8-K dated December 16, 1996.
Rentech is pursuing funding for the acquisition of the Okon assets as
well as for Rentech's capital contribution of $200,000 in cash to ITN/ES
LLC. The agreement for forming ITN/ES LLC and developing its technologies
was filed as an exhibit to Rentech's Current Report on Form 8-K dated
November 7, 1996. If Rentech is able to fund its capital contribution, the
technologies of ITN/ES will include production of thin-film electronic
substrates by deposition upon which computer chips can be mounted; advanced
processes for ceramic deposition on materials to improve their capacity to
withstand heat and wear; and utilization of shape memory alloys that are
highly advanced metals which by the proper application of heat, cold or
electrical impulse can perform a mechanical function with precision for long
periods of time. There are no assurances that such funding can be obtained
or that acquisition of the assets or completion of the ITN/ES LLC
transaction will be completed.
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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.
RENTECH, INC.
(signature)
Date: January 30, 1997 By: -------------------------------------
Dennis L. Yakobson, President
