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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 Event Reported: October 15, 1997
ELEK-TEK, INC.
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(Exact name of Registrant as specified in its Charter)
36-3042018
Delaware 0-22064 ------------------
- ---------------------------- ------------------------ (IRS Employer
(State or other jurisdiction (Commission File Number) Identification No.)
of incorporation)
7350 N. Linder Avenue, Skokie, Illinois 60077
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (847) 677-7660
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Items 2 and 3. Acquisition or Disposition of Assets and Bankruptcy or
Receivership
On September 17, 1997, Elek-Tek, Inc. ("Elek-Tek") entered into an asset
purchase agreement with Creative Computers, Inc. ("Creative Computers")
pursuant to which Elek-Tek agreed to sell substantially all of its assets to
Creative Computers. On September 17, 1997, Elek-Tek also filed a voluntary
petition under Chapter 11 of the U.S. Bankruptcy Code in the District of
Delaware. On October 15, 1997, Elek-Tek and Creative Computers consummated the
sale of substantially all of Elek-Tek's assets to Creative Computers, pursuant
to an order entered on October 9, 1997 by the United States Bankruptcy Court
for the District of Delaware. The purchase price was $29 million. As a
result, limited funds will be available for distribution to general unsecured
creditors of Elek-Tek. No funds will be available for distribution to
stockholders of Elek-Tek. The foregoing summary of the terms of the asset
purchase agreement is qualified in its entirety by reference to the provisions
of the asset purchase agreement, a copy of which was filed as an exhibit to the
Current Report on Form 8-K of Elek-Tek, Inc. dated September 17, 1997 and is
hereby incorporated herein by reference.
Elek-Tek has been notified by the National Association of Securities
Dealers (NASDAQ) that Elek-Tek's common stock will be delisted from the NASDAQ
Stock Market on Thursday, October 23, 1997.
Item 7. Financial Statements and Exhibits
(2) Asset Purchase Agreement between Elek-Tek, Inc. and Creative Computers,
Inc. dated as of September 17, 1997 (incorporated herein by reference
to Exhibit 2 to the Registrant's Current Report on Form 8-K dated
September 17, 1997).
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, thereunto duly authorized.
Date: October 23, 1997
ELEK-TEK, INC.
(Registrant)
/s/ Richard L. Rodriguez
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Richard L. Rodriguez,
President and Chief Executive Officer
