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
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Date of Report (Date of earliest event reported): SEPTEMBER 3, 1997
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APPLIED SCIENCE AND TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 0-22646 04-2962110
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
35 CABOT ROAD, WOBURN, MASSACHUSETTS 01801
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (617) 933-5560
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ITEM 5. OTHER EVENTS.
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On September 3, 1997, the Registrant publicly disseminated a press
release announcing that it intends to redeem all of its outstanding publicly
traded redeemable warrants on October 7, 1997 at a redemption price of $0.10 per
warrant. Any holders who wish to exercise their warrants must do so before
October 6, 1997 at 5:00 p.m. eastern time. As a result of the anti-dilution
provisions of the warrants, two warrants currently entitle the registered holder
to acquire 1.015 shares of the Registrant's Common Stock, $0.01 par value per
share, at an exercise price of $14.83. On August 27, 1997, the average closing
sale price for the Registrant's Common Stock as reported by the Nasdaq National
Market for twenty (20) consecutive trading days exceeded $19.35 per share. The
information contained in the press release is incorporated herein by reference
and filed as Exhibit 99.1 hereto.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
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(c) Exhibit.
Exhibit
No. Title
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99.1 The Registrant's Press Release dated September 3, 1997.
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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.
APPLIED SCIENCE AND TECHNOLOGY,
INC.
Date: September 8, 1997 /s/ Richard S. Post
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Richard S. Post
President
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EXHIBIT INDEX
Exhibit Sequential
Number Description Page Number
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99.1 The Registrant's Press Release 5
dated September 3, 1997
4
Contact:
John Tarrh
Applied Science and Technology, Inc.
Senior Vice President and Chief Financial Officer
(617) 937-5135
Investor Relations Contact:
Donna N. Stein, APR/Dan Durkin/Keil Decker
Morgen-Walke Associates, Inc.
(212) 850-5600
Press Contact: FOR IMMEDIATE RELEASE
Lee Foley
Morgen-Walke Associates, Inc.
(212) 850-5600
ASTEX ANNOUNCES INTENTION TO REDEEM WARRANTS
Woburn, Mass., September 3, 1997 ---- Applied Science and Technology, Inc.
("ASTeX") (Nasdaq:ASTX) today announced its intention to redeem all of its
outstanding publicly traded redeemable warrants on October 7, 1997 at a
redemption price of $0.10 per warrant. Any holders who wish to exercise their
warrants must do so before October 6, 1997 at 5:00 p.m. eastern time.
As a result of the anti-dilution provisions of the warrants, two warrants
currently entitle the registered holder to acquire 1.015 shares of the Company's
common stock, $0.01 par value per share, at a price of $14.83 per share. On
August 27, 1997, the average closing sale price for the Company's common stock
as reported by the Nasdaq National Market for 20 consecutive trading days
exceeded $19.35 per share.
Dr. Richard Post, President and Chief Executive Officer, commented, "We are very
pleased to announce the redemption of our warrants as we expect to raise a net
of approximately $14 million in cash by issuing approximately one million new
shares. This additional equity will strengthen our financial position and allow
us to continue to aggressively pursue our overall growth objectives."
ASTeX is a leading provider of innovative production technology for the
manufacture of advanced semiconductor devices. ASTeX markets its plasma sources
and subsystems, ozone generators and subsystems, and specialty power sources to
the world's leading semiconductor capital equipment manufacturers. ASTeX markets
the same underlying core technology for medical, electro-optic and synthetic
diamond applications.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of
1995: This release contains forward looking statements that are subject to risks
and uncertainties, including, but not limited to, the impact of competitive
products and pricing, product demand and market acceptance, new product
development, reliance on key strategic alliances, availability of raw materials,
the regulatory environment, fluctuations in operating results and other risks
detailed from time to time in the Company's filings with the Securities and
Exchange Commission.
