<PAGE> 1
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) July 31, 1997
-------------------------------
Cayenne Software. Inc.
- --------------------------------------------------------------------------------
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
Massachusetts 0-19682 04-2784044
- --------------------------------------------------------------------------------
(STATE OR OTHER JURISDICTION (COMMISSION (IRS EMPLOYER
OF INCORPORATION) FILE NUMBER) IDENTIFICATION NO.)
8 New England Executive Park, Burlington, Massachusetts 01803
- --------------------------------------------------------------------------------
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
Registrant's telephone number, including area code (617) 273-9003
-----------------------------
Not Applicable
- --------------------------------------------------------------------------------
(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
<PAGE> 2
ITEM 5. OTHER EVENTS.
This statement is filed to satisfy a requirement of The Nasdaq Stock
Market, Inc. that the registrant, Cayenne Software, Inc. ("Cayenne") make a
public filing on or before August 31, 1997 containing a pro forma balance sheet
as at July 31, 1997 and demonstrating compliance with all criteria for continued
inclusion for listing on the Nasdaq National Market.
The required balance sheet is set forth in Item 7(b) below. It reflects
pro forma the addition to equity resulting from a private placement of
$5,000,000 in shares of Series D Convertible Preferred Stock consummated on
August 28, 1997, and shows that Cayenne has pro forma net tangible assets
exceeding $4,500,000.
In addition, Cayenne meets the quantitative NMS maintenance criteria
provided in Nasdaq Rule 4450 as follows:
<TABLE>
<S> <C>
Shares publicly held (total outstanding less shares held by 15,926,199
directors and officers) at August 27, 1997
Market value of publicly held shares @ $2 9/16 $40,810,884
Record shareholders 617
Authorized Nasdaq market makers 25
</TABLE>
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a) Financial Statements of Business Acquired.
Not applicable.
(b) Pro Forma Financial Information.
CAYENNE SOFTWARE, INC.
UNAUDITED PRO FORMA CONSOLIDATED BALANCE SHEET
(IN THOUSANDS)
<TABLE>
<CAPTION>
PRO FORMA
JULY 31, PRO FORMA JULY 31,
ASSETS 1997 ADJUSTMENT 1997
- ----------------------------------------------------------------- -------- ---------- ----------
<S> <C> <C> <C>
Current assets:
Cash and cash equivalents................................... $ 5,324 5,000 $10,324
Trade accounts receivable, less allowance for sales
returns and doubtful accounts of $619 at July 31, 1997 ... 11,777 11,777
Prepaid expenses and other current assets................... 1,540 1,540
------- ----- -------
Total current assets................................... 18,641 5,000 23,641
Property and equipment, less accumulated depreciation and
amortization................................................... 2,614 2,614
Capitalized software costs, less accumulated amortization
of $359 at July 31, 1997 ...................................... 441 441
Other assets..................................................... 644 644
------- -------
</TABLE>
-2-
<PAGE> 3
<TABLE>
<S> <C> <C> <C>
Total assets..................................................... $ 22,340 $5,000 $ 27,340
--------- ------ ---------
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Short term debt............................................. $ 3,266 $ 3,266
Accounts payable............................................ 1,908 1,908
Accrued expenses............................................ 895 895
Accrued compensation and benefits........................... 2,797 2,797
Accrued restructuring costs................................. 668 668
Income and other taxes payable.............................. 764 764
Obligations under capital lease............................. 459 459
Deferred revenue............................................ 9,157 9,157
--------- ---------
Total current liabilities.............................. 19,914 19,914
Obligations under capital lease.................................. 324 324
Commitments and contingencies
Stockholders' equity (deficit):
Series C Convertible Preferred Stock, $1.00 par value
per share, 150 shares authorized, 100 issued and
outstanding at July 31, 1997................................ 100 100
Series D Convertible Preferred Stock, $1.00 par value
per share, 300 shares authorized, 250 issued and
outstanding at August 31, 1997 ............................. 250 250
Common Stock $.01 par value per share; 52,400 shares
authorized; 18,807 shares issued and outstanding at
July 31, 1997.............................................. 188 188
Additional paid-in capital.................................. 108,299 4,750 113,049
Accumulated deficit......................................... (106,103) (106,103)
Accumulated translation adjustments......................... (382) (382)
--------- ------ ---------
Stockholders' equity ....................................... 2,102 5,000 7,102
--------- ------ ---------
Total liabilities and stockholders' equity ...................... $ 22,340 $5,000 $ 27,340
--------- ------ ---------
</TABLE>
Notes are an integral part of the consolidated financial statements.
(c) Exhibits.
Not applicable.
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.
CAYENNE SOFTWARE, INC.
Date: August 29, 1997 By: /s/ Frederick H. Phillips
----------------------------
Frederick H. Phillips
Chief Financial Officer
-3-
