SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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 22, 1998
The Netplex Group, Inc.
(Exact name of registrant as specified in its charter)
New York 1-11784 11-2824578
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
8260 Greensboro Drive, 5th Floor, McLean, Virginia 22101
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(Address of principal executive offices)
Registrant's telephone number, including area code: (703) 356-1717
N/A
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(Former name or former address, if changed since last report.)
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Item 5. Other Events.
In February and March 1998, The Netplex Group, Inc. (the
"Company") received $1,212,000 of gross proceeds from a private placement of its
common stock, $.001 par value (the "Common Stock"). The Common Stock was sold at
a purchase price of $1.00 per share. The Company issued a press release on March
17, 1998 relating to the private placement which is attached hereto as an
exhibit.
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
(c) Exhibits.
99.1 Press release relating to private placement.
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<PAGE>
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.
THE NETPLEX GROUP, INC.
Dated: March 19, 1998 By: /s/ Gene Zaino
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Name: Gene Zaino
Title: Chairman of the Board
and President
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Corporate Headquarters: 8260 Greensboro Drive
McLean, VA 22102
703-356-1717 (tel.)
703-356-1717 (fax)
News
Release
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For Immediate Release Contact: Matt Jones
Chief Financial Officer
703-356-1717, ext. 304
The Netplex Group, Inc. Completes Private Placement
March 17, 1998 - McLean, Va - The Netplex Group, Inc. (NASDAQ: NTPL)
announced today that it closed on $1,212,000 of financing in a private placement
raised primarily from employees, directors, associates, existing stockholders,
and friends of the Company.
The Netplex Group, Inc. issued shares of non-registered common stock to
purchasers who have agreed to a one-year lock-up provision. These restricted
shares carry registration rights and were offered at $1.00 per share. The funds
will be used to finance operations and additional acquisitions.
In making the announcement, Gene Zaino, President and Chief Executive
Officer, said, "The strong show of confidence and commitment by those working
for the Company as well as those who have been long-term investors and
supporters is testament to the potential which exists for The Netplex Group,
Inc."
The Netplex Group, Inc. (www.netplexgroup.com) is an information
solutions company, providing the people, technology, and processes to build,
manage and protect business information systems. Headquartered in McLean,
Virginia, Netplex is a $50+ million public company (Nasdaq: NTPL) with over 425
employees operating in seven locations throughout the United States.
Netplex is a registered trademark of The Netplex Group, Inc.
All rights reserved.
Statements in this news release concerning service offerings, market
opportunities, acquisitions, financial performance, results or expectations are
forward-looking statements. Actual results or performance could differ
materially from those expressed or implied by such forward-looking statements as
a result of known or unknown risks, uncertainties and other factors, such as
risks associated with unforeseen technical difficulties, changes in technology
and standards, dependencies on key employees, completion of acquisitions,
successful integration of acquisitions, availability of technical talent,
dependencies on certain technologies, delays, market acceptance and competition,
as well as other risks described from time to time in the Company's filings with
the Securities Exchange Commission, press releases and other communications.
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