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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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) June 2, 2000
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SUNGLASS HUT INTERNATIONAL, INC.
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(Exact Name of Registrant as Specified in its Charter)
FLORIDA 0-21690 65-0667471
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(State or Other Jurisdiction of (Commission File No.) (IRS Employer
Incorporation Identification No.)
255 Alhambra Circle, Coral Gables, Florida 33134
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(Address of principal executive office) Zip code)
Registrant's telephone number, including area code: (305) 461-6100
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Not Applicable
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(Former Names or Former Address, if Changed Since Last Report)
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ITEM 2. Acquisition Or Disposition Of Assets
Pursuant to a Stock Purchase Agreement (the "Purchase Agreement"),
dated as of May 5, 2000, by and among the Registrant, Watch World Licensing
Corp., ("Watch World") and the "Stockholders" of Watch World named therein, a
copy of which is attached hereto as Exhibit 2.1, and incorporated herein for all
purposes, the Registrant purchased all of the outstanding capital stock of Watch
World on June 2, 2000. The purchase will be accounted for under the purchase
method of accounting.
Pursuant to the Purchase Agreement, all of the outstanding shares of
Watch World were purchased by the Registrant for an aggregate of approximately
(i) $11,110,085, (ii) 1,324,206 shares of common stock, par value $.01 per
share, of the Registrant, and (iii) warrants to purchase up to 150,000 shares of
common stock, par value $.01 per share, of the Registrant at a per share
purchase price of $8.875. The cash consideration was obtained by the Registrant
under its credit facility with Fleet National Bank, Inc.
(a) Exhibits
Exhibit No. Description of Exhibit
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2.1 Stock Purchase Agreement, dated as of
May 5, 2000
1
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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.
Date: June 14, 2000 SUNGLASS HUT INTERNATIONAL, INC.
By: /s/ LARRY G. PETERSEN
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Larry G. Petersen
Senior Vice President-Finance
and Chief Financial Officer
(principal financial officer)
2
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EXHIBIT INDEX
EXHIBIT DESCRIPTION
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2.1 Stock Purchase Agreement, dated as of May 5, 2000
