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 (date of earliest event reported): September 29, 2000
IPI, Inc.
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(Exact name of Registrant as specified in its charter)
Minnesota 001-15563 41-1449312
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(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
8091 Wallace Road
Eden Prairie, Minnesota 55344
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (952) 975-6200
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Item 2. Acquisition or Disposition of Assets
In September 2000, IPI, Inc. acquired 260,000 shares of common stock of
Conseco, Inc. (NYSE: CNC), an Indiana based insurance and financial services
company. The Company paid approximately $2,204,000 in consideration for the
260,000 shares, which was 50% financed from the working capital of the Company
and 50% on margin debt.
In a series of transactions from April 2000 through August 2000, the
Company previously acquired 1,915,500 shares of Conseco at a cost of
approximately $14,057,000. In total, the Company now holds 2,175,500 shares of
Conseco common stock, which constitutes less than 1% of the approximately
325,264,000 outstanding shares of common stock of Conseco, Inc. The shares were
purchased for investment purposes only and the Company has no relationship to
Conseco, Inc. other than that of shareholder. All shares were purchased in open
market transactions.
From time to time, the Company has invested and may invest in other
businesses or companies other than its core businesses of franchising and
operating fast turnaround business printing operations and franchising learning
centers. Although the Company has invested in other businesses or companies, the
Company does not intend to become an investment company and intends to remain
primarily an operating company.
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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, thereunto duly authorized.
IPI, INC.
By /S/David M. Engel
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David M. Engel
Vice President of Finance and Chief Financial Officer
Dated: October 11, 2000
