UNITED STATES
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): AUGUST 15, 1997
CTA INCORPORATED
(Exact name of registrant as specified in its charter)
COLORADO 33-44510 84-0797618
(State or other jurisdiction (Commission (I.R.S. Employer
incorporation) File Number) Identification No.)
6116 EXECUTIVE BOULEVARD, ROCKVILLE, MARYLAND 20852
(Address of principal executive offices) (Zip Code)
(301) 816-1200
(Registrant's telephone number, including area code)
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CTA INCORPORATED
FORM 8-K
CURRENT REPORT
AUGUST 15, 1997
Item 2. Acquisition or Disposition of Assets
On July 11, 1997, the Company entered into an Asset
Acquisition Agreement with Orbital Sciences Corporation under which the
Company will sell to Orbital its Space and Telecommunications Systems business
and the Mobile Information and Communications Services business in exchange
for $18,000,000 (less retained receivables of at least $6million) in cash,
subject to certain adjustments and a $3 million holdback, and to assume
certain liabilities of the Company. In addition, Orbital will pay to certain
lenders of the Company an aggregate of $27 million in partial or full
satisfaction of the Company's obligations to such lenders.The Company will
also be entitled to receive certain deferred consideration for future sales of
STARBus satellites and satellite buses and 3% of all cumulative revenues
attributable to GEMtrak tracking system in excess of a threshold amount of
$50 million. The Sale was approved by the shareholders of the Company on
August 4, 1997 and completed on August 15, 1997.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
The pro forma financial information required pursuant to
Article 11 of Regulation S-X will be filed as soon as
practicable but not later than 60 days from the date of this report.
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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, thereunto duly authorized.
CTA INCORPORATED
AUGUST 27, 1997 /S/ GREGORY H. WAGNER
Gregory H. Wagner
Executive Vice President,
Chief Financial Officer,
Principal Accounting Officer
and Treasurer
