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OMB APPROVAL
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OMB Number 3235-0287
Expires: September 30, 1998
Estimated average burden
hours per response ....... 0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[ ] Check this box if no longer subject of Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person*
Frantz William T.
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(Last) (First) (Middle)
P.O. Box 3965
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(Street)
Bellevue WA 98009
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Tera Computer Company (TERA)
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
06/99
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[ ] Director [ x ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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7. Individual or Joint/Group Filing (Check Applicable Line)
[ X ] Form filed by One Reporting Person
[ ] Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially wned
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<TABLE>
<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 06/21/99 A(1) 217,344 A $4.72 1,822,007 D
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<FN>
1/These shares, at an issue price of $4.72 per share and common stock
purchase Warrants, with an exercise price of $4.72 per share, were issued to the
Reporting Person by the Issuer in exchange for (i) the two year note in the
principal amount of $1,000,000, plus interest, convertible into 200,000 shares
of common stock at a conversion price of $5.00 per share and (ii) a warrant to
purchase 30,000 shares of common stock with an exercise price of $5.00 per
share.
</FN>
</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If the Form is filed by more than one reporting person, see Instruction
4(b)(v).
<PAGE>
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
9. 10.
Number Owner-
of ship
2. Deriv- Form of
Conver- 5. 6. 7. ative Deriv- 11.
1. sion Number of Date Exer- Title and Amount Secur- ative Nature
Title or Derivative cisable and of Underlying ities Secur- of
of Exer- 4. Securities Exercisable Securities 8. Bene- ity: In-
Deriv cise 3. Trans- Acquired (A) and Expira- (Instr. 3 and 4) Price ficially Direct direct
ative Price Trans- action or Disposed tion Date ---------------- of Owned (D)or Bene-
of of action Code of (D) (Month/Day/Year) Deriva- at End In- ficial
Sec- Deriv- Date (Instr. (Instr. 3, ---------------- tive of direct Owner-
urity- ative (Month/ 8) 4, and 5) Date Expira- Amount or Security Month (I) ship
(Instr. Secur- Day/ ------ ----------- Exer- tion Number of Instr. (Instr. (Instr. (Instr.
3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Two 6/21/99 D(1) $1,000,000 Immed 3/31/01 Common $1,000,000 $1,000,000 0 D
Year Note (1) Stock (1)
Convertible
into Common
Stock (Right
to Buy)
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Common 6/21/99 D(1) 30,000 Immed 3/31/04 Common 30,000 $1,000,000 0 D
Stock Purchase (1) Stock (1)
Warrants
(Right to
Buy)
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Common 6/21/99 A(1) 217,344 Immed 6/21/02 Common 217,344 $1,025,864 217,344 D
Stock Purchase (1) Stock (1) (1)
Warrants (Right
to Buy)
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</TABLE>
Explanation of Responses:
See previous page for explanation of footnote (1).
/William T. Frantz/ 07/09/99
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**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
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