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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) August 11, 2000
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P-Com, Inc.
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(Exact name of registrant as specified in charter)
Delaware 0-25356 77-0289371
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
3175 S. Winchester Boulevard, Campbell, California 95008
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (408) 866-3666
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None
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(Former name or former address, if changed since last report.)
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Item 5. Other Events.
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On August 11, 2000, P-Com entered into a Common Stock PIPES Purchase
Agreement with State of Wisconsin Investment Board (SWIB) calling for the sale
to SWIB of 3,000,000 shares of newly issued, unregistered Common Stock for $6.11
per share in cash. P-Com agreed to give SWIB price protection for 90 days after
the closing of the sale in the event of further stock issuances at lower prices,
and also agreed to register the 3,000,000 shares with the SEC for resale. If P-
Com does not, within 90 days after the closing of the sale, register the shares
for resale, P-Com must pay cash penalties to SWIB.
On August 14, 2000, SWIB purchased the 3,000,000 shares for
$18,330,000 in cash, pursuant to the Purchase Agreement. The purchase increased
SWIB's percentage ownership of P-Com's outstanding Common Stock from 14.2% to
17.4%.
On August 14, 2000, P-Com Vice President and Chief Financial Officer
Robert E. Collins resigned from P-Com in order to take a position as Chief
Financial Officer of another substantial telecommunications company in the San
Francisco bay area.
Item 7. Financial Statement and Exhibits.
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1) Exhibit 10.80 - Common Stock PIPES Purchase Agreement, dated
August 11, 2000, by and between P-Com and State of Wisconsin Investment Board.
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.
P-COM, INC.
DATE: August 16, 2000 By: /s/ George P. Roberts
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Name: George P.Roberts
Title: Chief Executive Officer
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EXHIBIT INDEX
Exhibit
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10.80 Common Stock PIPES Purchase Agreement, dated August 11, 2000, by and
between P-Com and State of Wisconsin Investment Board.
