SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of
Securities and Exchange Act of 1934
Date of Report
(Date of earliest event reported)
June 27, 1997
NATIONAL WIRELESS HOLDINGS INC.
(Exact name of registrant as specified in its charter)
Delaware 0-23598 13-3735316
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
249 Royal Palm Way, Suite 301, Palm Beach, Florida 33480
(Address of principal executive offices and zip code)
(407) 832-0981
(Registrant's telephone number, including area code)
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Item 1. Changes in Control of Registrant
Not Applicable
Item 2. Acquisition or Disposition of Assets
On June 27, 1997, the registrant completed the sale of its subsidiary, South
Florida Television Inc., which holds its rights to provide wireless cable TV
service in Miami, to BellSouth Corporation for 1,048,321 shares of BellSouth
common stock, based on a $48 million purchase price.
Item 3. Bankruptcy or Receivership
Not Applicable
Item 4. Changes in Registrants's Certifying Account
Not Applicable
Item 5. Other Events
Not Applicable
Item 6. Resignations of Registrant's Directors
Not Applicable
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
Not Applicable
(a) Financial Statements of Business Acquired
Not Applicable
(b) Pro Forma Financial Information
Pro Forma Financial Information will be filed by amendment.
(c) Exhibits
Exhibit No.
10.99 Press Release, dated June 30, 1997.
Item 8. Change in Fiscal Year
Not applicable.
<PAGE>
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.
NATIONAL WIRELESS HOLDINGS INC.
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(Registrant)
Date: June 30, 1997 By: /s/ Terrence S. Cassidy
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Terrence S. Cassidy, Principal Executive
Officer,
Principal Financial Officer and
Principal Accounting Officer
FOR IMMEDIATE RELEASE FOR MORE INFORMATION:
June 30, 1997
Carl Nicola
National Wireless Holdings Inc.
212-582-1212
NATIONAL WIRELESS HOLDINGS COMPLETES
SALE OF MIAMI WIRELESS CABLE RIGHTS TO BELLSOUTH
National Wireless Holdings completes sale of Miami
wireless cable subsidiary for $48 million in stock
New York, New York -- National Wireless Holdings Inc. (Nasdaq: NWIR) announced
today that it has completed the sale of its subsidiary, South Florida Television
Inc., which holds its rights to provide wireless cable TV service in Miami, to
BellSouth Corporation (NYSE:BLS) for 1,048,321 shares of BellSouth common stock,
based on a $48 million purchase price.
Terrence S. Cassidy, President of National Wireless, stated "With this sale of
our South Florida Television subsidiary, we have significantly strengthened our
balance sheet which will now have approximately $60 million in cash and
marketable securities and three other operating subsidiaries."
