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): July 11, 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 of (Commission File Number) (I.R.S. Employer
incorporation) Identification No.)
15155 Technology Drive
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 July 2000, IPI, Inc. acquired 400,000 shares of common stock of
Conseco, Inc. (NYSE: CNC), an Indiana based insurance and financial services
company. The Company paid approximately $3,672,000 in consideration for the
400,000 shares, all of which was financed from the working capital of the
Company.
As reported in a May 10, 2000 8-K filing, the Company previously
acquired 1,000,000 shares of Conseco at a cost of approximately $6,200,000. In
total, the Company now holds 1,400,000 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.
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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: July 17, 2000
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