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 7, 2000
Sheldahl, Inc.
(Exact name of Registrant as specified in its charter)
Minnesota 0-45 41-0758073
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
1150 Sheldahl Road
Northfield, Minnesota 55057
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (507) 663-8000
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Item 5. Other Events
On October 26, 1999, Sheldahl, Inc., a Minnesota corporation (the
"Company"), announced it had retained USBancorp Piper Jaffray, Inc. as its
financial advisor to pursue and recommend various strategic alternatives
intended to maximize shareholder value. On June 26, 2000, the Company
announced that it had entered into an agreement with Morgenthaler Partners
and International Flex Technologies, Inc. ("IFT") pursuant to which they will
deal exclusively with each other until August 7, 2000 (the "Exclusivity
Agreement") regarding a potential acquisition of IFT by the Company and an
investment in the Company by Morgenthaler Partners, the majority owner of
IFT, and other potential investors. On August 7, 2000 the Company announced
that it had agreed to extend the Exclusivity Agreement. The extension of the
Exclusivity Agreement will last until August 21, 2000 and has been modified
to allow the Company to engage in discussions regarding additional financing
proposals in the event Morgenthaler does not invest at least $2 million in
the Company by the end of the day on August 14, 2000. There is no written
commitment of Morgenthaler to make an investment in the Company and,
therefore, there can be no assurance that such investment will be made.
A copy of the Company's press release announcing the extension of the
exclusivity period and certain matters concerning the Company's outlook for
the fourth quarter of fiscal 2000 is attached hereto as Exhibit 99.2.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
Exhibit 99.1 Amended Exclusive Letter Agreement among the Company,
Morgenthaler Partners and International Flex Technologies
Inc. dated August 7, 2000
Exhibit 99.2 Press Release
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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.
Sheldahl, Inc.
By /s/ Edward L. Lundstrom
Edward L. Lundstrom, President and
Chief Executive Officer
Dated: August 7, 2000
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