<PAGE>
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 Report: October 22, 1996
VIDEO UPDATE, INC.
- -------------------------------------------------------------------------------
(Exact Name of Registrant as Specified in Its Charter)
Delaware
- -------------------------------------------------------------------------------
(State or Other Jurisdiction of Incorporation)
0-24346 41-1461110
------------------------ ------------------------------------
(Commission File Number) (I.R.S. Employer Identification No.)
3100 World Trade Center, 30 East Seventh Street, St. Paul, Minnesota 55101
- -------------------------------------------------------------------------------
(Address of Principal Executive Offices) (Zip Code)
(612) 222-0006
- -------------------------------------------------------------------------------
(Registrant's Telephone Number, Including Area Code)
Not Applicable
- -------------------------------------------------------------------------------
(Former Name or Former Address, if Changed Since Last Report)
<PAGE>
TABLE OF CONTENTS
FORM 8-K
October 22, 1996
ITEM PAGE
- ---- ----
Item 5. OTHER EVENTS 1
Signature 2
-i-
<PAGE>
ITEM 5. OTHER EVENTS
On October 2, 1996, Video Update, Inc. (the "Company") completed a
public offering (the "Offering") of 6,100,000 shares of its Class A Common
Stock, $.01 par value per share (the "Class A Common Stock") at a public
offering price of $4.00 per share. The Company received net proceeds of
approximately $21,942,000 from the Offering.
On October 9, 1996, the Company closed the over-allotment (the
"Over-allotment") for the Offering of an additional 915,000 shares of Class A
Common Stock at a public offering price of $4.00 per share. The Company
received net proceeds of approximately $3,404,000 from the Over-allotment.
The Class A Common Stock and the Company's Redeemable Class B Warrants
are listed on NASDAQ/NMS under the symbols VUPDA and VUPDW, respectively.
-1-
<PAGE>
SIGNATURE
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.
VIDEO UPDATE, INC.
By: /s/ Daniel A. Potter
------------------------------------
Daniel A. Potter
Chief Executive Officer
Date: October 22, 1996
-2-
