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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): May 12, 1999
SatCon Technology Corporation
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(Exact Name of Registrant as Specified in Charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
1-11512 04-2857552
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(Commission File Number) (I.R.S. Employer Identification No.)
161 FIRST STREET
CAMBRIDGE, MASSACHUSETTS 02142-1228
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(Address of Principal Executive Offices) (Zip Code)
(617) 661-0540
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(Registrant's Telephone Number, Including Area Code)
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This Current Report on Form 8-K is filed by SatCon Technology Corporation, a
Delaware corporation (the "Registrant"), in connection with the matters
described herein.
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
On May 12, 1999, the Registrant dismissed PricewaterhouseCoopers LLP ("PwC")
from its position as the Registrant's independent auditors. The decision to
change accountants was recommended by the Registrant's Audit Committee and
approved by the Registrant's Board of Directors. None of the reports of PwC on
the financial statements of the Registrant for either of the past two fiscal
years contained an adverse opinion or a disclaimer of opinion, or was qualified
or modified as to uncertainty, audit scope or accounting principles. During the
Registrant's two most recent fiscal years and the subsequent interim period
immediately preceding the date of the dismissal of PwC, the Registrant had no
disagreements with PwC on any matter of accounting principles or practices,
financial statement disclosure, or auditing scope or procedure, which
disagreement(s), if not resolved to the satisfaction of PwC, would have caused
PwC to make reference to the subject matter of the disagreement(s) in connection
with its reports on the financial statements of the Registrant. None of the
reportable events listed in Item 304 (a) (1) (v) of Regulation S-K under the
Securities Exchange Act of 1934, as amended, occurred with respect to the
Registrant's two most recent fiscal years or the subsequent interim period
preceding the dismissal of PWC.
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ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
The exhibit listed in the Exhibit Index filed as part of this report is
filed as part of or is included in this report.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SatCon Technology Corporation
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(Registrant)
Date: May 19, 1999 By: /s/ Michael C. Turmelle
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Michael C. Turmelle
Vice President, Chief Financial
Officer, Treasurer and Secretary
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EXHIBIT INDEX
Exhibit
Number Description
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16 Letter regarding Change in Certifying Accountant
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Exhibit 16
[PricewaterhouseCoopers LLP letterhead]
May 18, 1999
Securities and Exchange Commission
450 5th Street, N.W.
Washington D.C. 20549
Commissioners:
We have read the statements made by SatCon Technology Corporation (copy
attached), which we understand will be filed with the Commission, pursuant to
Item 4 of Form 8-K, as part of the Company's Form 8-K report filed on May 19,
1999. We agree with the statements concerning our Firm in such Form 8-K.
Very truly yours,
/s/PricewaterhouseCoopers LLP
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PricewaterhouseCoopers LLP
