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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
NOVEMBER 6, 1997
(Date of report)
WALNUT FINANCIAL SERVICES, INC.
(Exact name of registrant as specified in its charter)
UTAH
(State or other jurisdiction
of incorporation)
814-00157
0-26072 87-0415597
------------ (IRS Employer
(Commission Identification No.)
File Number)
8000 TOWERS CRESCENT DRIVE
SUITE 1070
VIENNA, VIRGINIA 22182
(Address of principal executive offices)(Zip Code)
(703) 448-7688
(Registrant's telephone number, including area code)
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Item 5. Other Events
On November 6, 1997, the Registrant issued the press release included herewith
as an exhibit and is filing this report as required by Rule 135C promulgated
under the Securities Act of 1933, as amended.
Item 7. Financial Statements and Exhibits
(c) Exhibits.
(1) Press Release dated November 6, 1997.
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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.
WALNUT FINANCIAL SERVICES, INC.,
a Utah corporation
By: /s/ Joel S. Kanter
------------------
Date: November 6, 1997 Joel S. Kanter
President and Chief Executive Officer
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Exhibit 99.1
FOR IMMEDIATE RELEASE
Contact: Joel Kanter
Tony Schor Chief Executive Officer
Investor Awareness, Inc. Walnut Financial Services, Inc.
847-945-2222 703-448-3771
WALNUT FINANCIAL SERVICES, INC. ANNOUNCES
COMMENCEMENT OF PRIVATE OFFERING
Vienna Virginia - November 6, 1997 -- WALNUT FINANCIAL SERVICES, INC. (NASDAQ:
WNUT) announced that it has commenced a private offering of its securities soley
to accredited investors. Walnut Financial is offering a minimum of 50, and a
maximum of 80, Units, with each Unit consisting of 50,000 shares of Common
Stock and 35,000 Class A Warrants. The offering price for each Unit is
$50,000. Each Class A Warrant included in the Units is exercisable for one
share of Common Stock at an exercise price of $1.50. The Class A Warrants
will expire in October 2002. The closing of the offering is contingent upon,
among other things, receipt of stockholder approval.
According to Joel S. Kanter, Chief Executive Officer of Walnut Financial
Services, Inc., "The primary purpose of this private placement offering is to
assist us in continuing with our investment and acquisition program."
Such securities have not been and will not be registered under the Securities
Act of 1933, as amended (the "Act"), and may not be offered or sold in the
United States absent registration or an applicable exemption from
registration requirements.
Walnut Financial Services, Inc. is a publicly-held company with three
subsidiaries (Walnut Capital Corp., Walnut Funds, Inc., and Universal Bridge
Fund, Inc.), which has made equity and debt investments in over 150 portfolio
companies. Currently, Walnut Financial is seeking acquisitions in a variety of
financial services arenas including accounts receivable factoring, asset-based
lending, equipment leasing, mezzanine lending, and others, in addition to
seeking to add to its investments in small and medium sized businesses.
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