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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): November 4, 1999
COMMISSION FILE NUMBER: 0-26040
COMPUTER LEARNING CENTERS, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
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<S> <C>
DELAWARE 36-3501869
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
11350 RANDOM HILLS ROAD, SUITE 240
FAIRFAX, VIRGINIA 22030
(Address of principal executive offices) (Zip Code)
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(703) 359-9333
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
On November 4, 1999, Computer Learning Centers, Inc. (the "Company") issued a
press release announcing that it had retained an investment bank to explore
opportunities to maximize shareholder value, including the possible sale of the
Company. A copy of the press release is being filed herewith as an exhibit.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99.1 Press Release dated November 4, 1999.
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 hereunto duly authorized.
COMPUTER LEARNING CENTERS, INC.
By: /s/ Charles L. Cosgrove
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Dated: November 9, 1999 Charles L. Cosgrove
Chief Financial Officer & Secretary
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EXHIBIT 99.1
COMPUTER LEARNING CENTERS RETAINS U.S. BANCORP PIPER JAFFRAY
FAIRFAX, Va--Nov. 4, 1999-Computer Learning Centers, Inc. (Nasdaq National
Market:CLCX) ("CLC") today announced that it has retained U.S. Bancorp Piper
Jaffray Inc. to assist it in exploring various alternatives to maximize
shareholder value, including the possible sale of the Company. Reid Bechtle,
Chief Executive Officer of CLC, commented, "We are pleased to be working with
the team at U.S. Bancorp Piper Jaffray, whose association with CLC began with
our May 1995 initial public offering. U.S. Bancorp Piper Jaffray has earned an
outstanding reputation as one of the nation's premier, full-service investment
banking firms and we look forward to working closely together."
Mr. Bechtle also noted that there can be no assurance that proposals acceptable
to the Company's Board of Directors will be received or that any transaction
resulting from this agreement with U.S. Bancorp Piper Jaffray will be
consummated.
Computer Learning Centers provides information and computer-related education
and training at 28 Learning Centers in the United States and Canada. The Company
designs programs and courses to meet current information technology education
needs, offering instruction focused on client/server systems and applications
programming, networking administration and management, help desk operations and
computer technical support.
This press release contains forward-looking statements. The words "believe,"
"expect," "intend," "anticipate," and "project," and similar expressions
identify forward-looking statements, which speak only as of the date the
statement was made. The Company undertakes no obligation to publicly update or
revise any forward-looking statements, whether as a result of new information,
future events, or otherwise. Forward-looking statements are inherently subject
to risks and uncertainties, some of which cannot be predicted or quantified.
Future events and actual results could differ materially from those set forth
in, contemplated by, or underlying the forward-looking statements. The risks and
uncertainties to which forward-looking statements are subject include, but are
not limited to, the effect of government regulation, competition and other risks
detailed from time to time in the Company's filings with the Securities and
Exchange Commission.
