<PAGE> 1
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): JULY 16, 1997
-------------
ILLINOIS SUPERCONDUCTOR CORPORATION
----------------------------------------------------------
(Exact Name of Registrant as Specified in Charter)
DELAWARE 0-22302 36-3688459
---------------------- ----------- -----------------
(State or Other Jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.
451 KINGSTON COURT, MOUNT PROSPECT, ILLINOIS 60056
----------------------------------------------------------------
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (847) 391-9400
--------------
<PAGE> 2
ITEM 5. OTHER EVENTS.
On July 16, 1997, the Registrant issued the press release attached as Exhibit
99.1 announcing the resignation of Michael J. Friduss from the Registrant's
Board of Directors. The information contained in this press release is
incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
99.1 Press Release of Registrant dated July 16, 1997
2
<PAGE> 3
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.
Illinois Superconductor Corporation
Dated: July 16, 1997 By: /S/ EDWARD W. LAVES, PH.D.
-------------------------------------
Edward W. Laves, Ph.D.
President and Chief Executive Officer
3
<PAGE> 4
Exhibit Index
<TABLE>
<CAPTION>
Exhibit # Item
- --------------- -------------------
<S> <C>
99.1 Press Release
</TABLE>
<PAGE> 1
[LOGO] EXHIBIT 99.1
FOR IMMEDIATE RELEASE
Illinois Superconductor Corporation
Steve Wasko, 847-391-9400
Mary K. Williams, 847-391-9400
Internet: [email protected]
ILLINOIS SUPERCONDUCTOR ANNOUNCES
RESIGNATION OF MICHAEL J. FRIDUSS
Mount Prospect, IL (July 16, 1997) -- Illinois Superconductor Corporation
(Nasdaq: ISCO) was notified yesterday that Michael J. Friduss resigned from the
board of directors citing time commitments related to his growing consulting
business.
"I have enjoyed my time serving on the Illinois Superconductor board, but
unfortunately my rapidly growing consulting practice precludes me from devoting
the necessary time and attention to a growing technology company," said
Friduss, commenting on his resignation.
"At the same time, I am confident that the company's technology and
products will succeed in the growing wireless marketplace," Friduss continued.
Commenting on Friduss' resignation, Ora E. Smith, chairman of the board
said, "We would like to thank Mike for his dedicated service as a director.
Mike's experience as a consultant to the telecommunications industry was a
valuable asset to us and we appreciate his freely offering his industry
expertise to the board."
The company has no immediate plans to replace Mr. Friduss.
Illinois Superconductor Corporation is a leader in the commercialization
of high temperature superconducting technology for the wireless
telecommunications industry. The company develops, manufactures, and markets
radio frequency (RF) products to enhance the quality and capacity of cellular
telephone and other wireless telecommunications services.
###
