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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 4, 1997
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ILLINOIS SUPERCONDUCTOR CORPORATION
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(Exact Name of Registrant as Specified in Charter)
DELAWARE 0-22302 36-3688459
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(State or Other Jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.
451 KINGSTON COURT, MOUNT PROSPECT, ILLINOIS 60056
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (847) 391-9400
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ITEM 5. OTHER EVENTS.
On August 4, 1997, the Registrant issued the press release attached as Exhibit
99.1 announcing its hiring of Salomon Brothers Inc to assist the Registrant in
its evaluation of strategic alternatives to enhance stockholder value. 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 August 4, 1997
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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: August 4, 1997 By: /S/ EDWARD W. LAVES, PH.D.
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Edward W. Laves, Ph.D.
President and Chief Executive Officer
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Exhibit Index
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Exhibit # Item
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99.1 Press Release
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[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 ENGAGES SALOMON BROTHERS
AS STRATEGIC ADVISOR
Mount Prospect, Illinois (August 4, 1997) - Illinois Superconductor
Corporation (Nasdaq: ISCO) today announced that it has retained the investment
banking firm Salomon Brothers Inc to assist the company in its evaluation of
strategic alternatives to enhance stockholder value.
Edward W. Laves, president and chief executive officer of Illinois
Superconductor, said, "Our goal was to retain an investment banking firm that
is deeply experienced in the telecommunications industry, and Salomon Brothers
has a top reputation in this field. As we evaluate ways to more fully
penetrate the wireless telecommunications market with our groundbreaking new
products, we feel it is appropriate to hire an investment banker to evaluate
the strategic alternatives which are available to us."
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.
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