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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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): May 8, 1998
TEGAL CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 0-26824 68-0370244
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation or organization) Identification No.)
2201 South McDowell Boulevard
P.O. Box 6020
Petaluma, California 94955-6020
(Address of principal executive offices) (Zip Code)
(707) 753-5600
(Registrant's telephone number, including area code)
(former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS.
Tegal Corporation, a Delaware corporation (the "Company") is a party to
an Amended and Restated Information and Registration Rights Agreement dated as
of March 31, 1990, as amended (the "Registration Rights Agreement"), with the
holders of certain of its securities issued prior the Company's initial public
offering in October 1995. One of these holders, Benefit Capital Management
Corporation ("Benefit"), as Investment Manager for The Prudential Insurance
Company of America, Separate Account No. VCA-GA-5298, has exercised its rights
under the Registration Rights Agreement to demand registration of the sale or
other transfer ("disposition") of 1,745,813 shares (the "Benefit Shares") of the
Company's common stock, par value $0.01 per share, pursuant to a registration
statement on Form S-3 (the "Registration Statement"). The Registration Statement
was filed with the Securities and Exchange Commission on May 8, 1998.
Under the terms of the Registration Rights Agreement, the Company is
required to keep the Registration Statement effective until the earlier of 120
days from effectiveness of the Registration Statement or until Benefit has
completed the distribution of the Benefit Shares as described in the
Registration Statement. There is no limit to the number of times that Benefit
may demand registration of the disposition of the Benefit Shares.
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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.
Dated: May 8, 1998
TEGAL CORPORATION
By: /s/ David Curtis
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Name: David Curtis
Title: Vice President, Finance and
Administration and Chief
Financial Officer
