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): October 24, 2000
ENTRADE INC.
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(Exact name of registrant as specified in its charter)
Pennsylvania 1-15303 52-2153008
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
500 Central Avenue, Northfield, Illinois 60093
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (847) 784-3300
Not applicable
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(Former name or former address, if changed since last report.)
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ITEM 5. OTHER EVENTS
On October 24, 2000, Entrade Inc. ("Entrade"), pursuant to an
Exchange Agreement attached hereto as Exhibit 10.1, agreed to exchange
warrants originally issued in March, 2000, to purchase 1,021,080 shares of
the common stock of Entrade at a price of $16.21 per share. Those warrants
would have expired in March 2003 and, subject to certain conditions, would
have continued to adjust in both share amount and exercise price if Entrade
issued additional shares of its common stock or certain equivalents at a
price per share below the warrant exercise price of $16.21. The exchange
warrants attached hereto as Exhibit 10.2 are to purchase 1,021,080 shares
of the common stock of Entrade at a price of $2.875 per share and expire on
October 25, 2004. The exchange warrants also provide that the price of the
warrants will be reduced to an amount equal to the lowest consideration per
share of common stock which the Company issue or sells, or is deemed to
issue or sell, for a period of one year after the issuance of the warrants.
However, the exchange warrants do not have a provision that would result in
any increase in the number of shares.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Not Applicable.
(b) Not Applicable.
(c) Exhibits:
Exhibit No. Exhibit Description
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10.1 Exchange Agreement dated as of
October 24, 2000.
10.2 Exchange Warrant
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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 hereunto duly authorized.
ENTRADE INC.
By: /s/ Peter R. Harvey
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Peter R. Harvey
Vice Chairman
Date: October 24, 2000
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EXHIBIT INDEX
Exhibit No. Exhibit Description
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10.1 Exchange Agreement dated as of October 24, 2000.
10.2 Exchange Warrant
