SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
____________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES ECHANGE ACT OF 1934
Date of report (date of earliest event reported): March 3, 2000
TELULAR CORPORATION
(Exact Name of Registrant as Specified in Its Charter)
Delaware 0-23212 36-3885440
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification Number)
647 North Lakeview Parkway, Vernon Hills, Illinois 60061
(Address of Principal Executive Offices) (Zip Code)
(847) 247-9400
(Registrant's Telephone Number, Including Area Code)
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Item 5. Other Events.
On March 3, 2000, Telular Corporation, a Delaware corporation (the
"Company"), issued a press release announcing that it had completed a
private placement of 444,444 shares of its common stock in exchange for
$10 million. In addition to common stock, the Company issued warrants
for 100,000 shares of common stock with a strike price of $29.25. The
investors have the right to an additional investment of $5 million at
$28.13 per share, and warrants for 50,000 shares of common stock with a
strike price of $31.50. As part of the initial issuance, the Company
has agreed that if the market price of the common stock declines by 40%
or more within the next 25 business days, it will issue additional
warrants to the investors.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
(c) Exhibits
99.1 Press Release issued by Telular Corporation dated March 3,
2000.
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: March 3, 2000
TELULAR CORPORATION
/s/ JEFFREY L. HERRMANN
-----------------------
Jeffrey L. Herrmann
Executive Vice President and Chief
Operating Officer
Exhibit Index
Sequential
Exhibit Page
Number Document Name Number
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99.1 Press Release dated March 3, 2000
EXHIBIT 99.1
Press Release
[Logo] TELULAR CORPORATION
For Immediate Release _ March 3, 2000
Telular Corporation Issues $10 Million In Common Stock
VERNON HILLS, IL USA_Telular Corporation (Nasdaq: WRLS)
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Telular Corporation today announced that it issued 444,444 shares of
Common Stock in exchange for $10 million under Regulation "D"
provisions of the 1933 Securities Act in a private placement arranged
by Cardinal Securities, L.L.C. In addition to common stock, the Company
issued warrants for 100,000 shares of common stock with a strike price
of $29.25. The investor has the right to an additional investment of $5
million at $28.13 per share, and warrants for 50,000 shares of common
stock with a strike price of $31.50. As part of the initial issuance,
Telular has agreed that if the market price of the Common Stock
declines by 40% or more within the next 25 business days, Telular will
issue additional warrants to the investors.
"Having the capability to finance substantial working capital
requirements is necessary to compete for larger pieces of the Wireless
Local Loop market. We believe that we now have the right balance of
equity and debt financing to meet the needs of the rapidly expanding
wireless industry," said Mr. Kenneth E. Millard, President and Chief
Executive Officer.
In addition to its many industry firsts, Telular Corporation was the
first terminal supplier to offer digital fax capability in its GSM
Fixed Wireless Terminal, and the first to deploy a IS-136 TDMA digital
Fixed Wireless Terminal. Telular Corporation is a leader in the design
and manufacturing of Fixed Wireless Terminals. Telular's proprietary
telecommunications interface technology enables standard phone systems,
fax, computer modem or monitored alarm systems to utilize available
cellular wireless service for either primary or back-up communications.
Their product lines incorporate the world's leading cellular standards
(GSM, TDMA, CDMA, AMPS) and are marketed worldwide. Products developed
and marketed by Telular include the Phonecell[R] and Telguard[R] lines.
Headquartered in Vernon Hills, Illinois, Telular has regional sales
offices in Atlanta, Miami, Singapore and the United Kingdom. For
further company information, visit Telular at http://www.telular.com.
Source: Telular Corporation
Contact:
Jeffrey L. Herrmann
Executive Vice President
Telular Corporation
Phone: 847-247-9400
FAX: 847-247-0021
E-mail: [email protected]
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Please be advised that statements made herein state the
company's or management's intentions, hopes, beliefs,
expectations or predictions of the future and are forward-
looking comments. It is important to note that the company's
actual results could differ materially from those projected in
such forward-looking statements. Additional information
concerning factors that could cause actual results to differ
materially from those in the forward-looking statements is
contained from time to time in the company's SEC filings,
including but not limited to the company's report on Form 10-K
for the fiscal year ended September 30, 1999. Copies of these
filings may be obtained by contacting the Company or the SEC.
