-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Qg34rAeo9W+T5eA9CFrE0QOa57djY/qvkNVW7NaspccGD0NQwBNmk5W6zNQgnBIE lTk8w/wwxNTxYVJ8qH1Rdg== 0000950133-97-003573.txt : 19971022 0000950133-97-003573.hdr.sgml : 19971022 ACCESSION NUMBER: 0000950133-97-003573 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19970724 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19971021 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: MLC HOLDINGS INC CENTRAL INDEX KEY: 0001022408 STANDARD INDUSTRIAL CLASSIFICATION: FINANCE LESSORS [6172] IRS NUMBER: 541817218 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: SEC FILE NUMBER: 000-28926 FILM NUMBER: 97698555 BUSINESS ADDRESS: STREET 1: 11150 SUNSET HILLS ROAD STREET 2: SUITE 110 CITY: RESTON STATE: VA ZIP: 20190-5321 BUSINESS PHONE: 7038345710 MAIL ADDRESS: STREET 1: 11150 SUNSEL HILLS ROAD STREET 2: SUITE 110 CITY: RESTON STATE: VA ZIP: 20190-5321 8-K/A 1 AMENDMENT NO. 1 TO MLC HOLDING'S 8-K 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 -------------------------- FORM 8-K/A #1 CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 -------------------------- Date of Report (date of earliest event reported): July 24, 1997 -------------------------- MLC HOLDINGS, INC. (Exact name of registrant as specified in its charter) -------------------------- DELAWARE 0-28926 54-1817218 (State or other jurisdiction (Commission File Number) (I.R.S. Employer of incorporation) Identification No.) 11150 SUNSET HILLS ROAD, SUITE 110, RESTON, VA 20190 (Address of principal executive offices) Registrant's telephone number, including area code: (703) 834-5710 -------------------------- 2 ITEM 5. OTHER EVENTS Pursuant to the terms of an Agreement and Plan of Merger dated July 24, 1997 (the "Merger Agreement") by and among MLC Holdings, Inc. (the "Company"), MLC Network Solutions, Inc. ("MLC Network Solutions") (a newly formed 100% owned subsidiary of the Company), Compuventures of Pitt County, Inc. (d.b.a. "MicroAge of Greenville" and "MicroAge of Wilmington")("Compuventures") and the stockholders of Compuventures, the Company acquired 100% of the outstanding stock of Compuventures from the stockholders of Compuventures effective July 24, 1997 (the "Closing Date"). The consideration for the transaction consists of $3,384,584 (the "Merger Consideration") payable in the form of 260,978 shares of the Company's common stock. The purchase price was determined based on arms-length negotiation. Compuventures is a value added computer reseller (or "VAR") of personal computers and network equipment and software, and services provider. Compuventures had revenues of approximately $15 million for the 12 months ended December 31, 1996. Compuventures was started in 1982 and has approximately 72 full and part time employees and independent contractors. Its headquarters is in Greenville, NC and it has a main branch in Wilmington, NC. Compuventures also maintains sales and service locations in Raleigh, NC, and Greenville, SC. The Company intends to continue to conduct the business of Compuventures through MLC Network Solutions, Inc. In addition, on the Closing Date, certain of the key employees/stockholders of Compuventures, Elaine G. Denton, William G. Garner, and David J. Rose III, entered into employment agreements with the Company. The employment agreements provide that the Company or its subsidiaries will employ each of such persons for varying terms of one or two years at salaries commensurate with their positions and duties. Each of the employment agreements contains non-compete and confidentiality provisions. In addition, the Company has agreed by the terms of the Merger Agreement to grant incentive stock options for an additional 60,000 shares of the Company's common stock to key employees of Compuventures who became employees of the Company. The Company will grant incentive stock options for 38,300 shares of the Company's common stock to the above named key employees/stockholders, and incentive stock options for an additional 21,700 shares of the Company's common stock to other employees of MLC Network Solutions. These option grants are subject to stockholder ratification of the Master Stock Incentive Plan (formerly the 1996 Stock Incentive Plan prior to amendment and restatement effective May 14, 1997 which has been adopted by the Board of Directors but which is subject to stockholder ratification) and the Amended and Restated Incentive Stock Option Plan (formerly the 1996 Incentive Stock Option -2- 3 Plan prior to amendment and restatement effective May 14, 1997 which has been adopted by the Board of Directors but which is subject to stockholder ratification). Philip G. Norton has entered into an agreement with Compuventures agreeing to vote the stock of the Company controlled by Mr. Norton in favor of ratification of these amendments. Mr. Norton controls 2,825,000 shares of common stock of the Company or 53.6% of the shares entitled to vote, thus stockholder ratification of these proposals is virtually assured. The above descriptions of the agreements entered into by the Company and Compuventures relating to the acquisition are not complete. Reference is made to the Merger Agreement, a copy of which was previously filed as an exhibit to this report and is incorporated herein by reference. There was no affiliation or relationship between the Company, its affiliates, officers or directors or associates of such persons and Compuventures or any of its officers, directors or stockholders prior to the execution of the Merger Agreement on the Closing Date. The acquisition described herein did not involve a significant amount of assets, as such term is defined in Form 8-K, Item 2, Instruction No. 4. Therefore, this report is being amended under Item 5 of Form 8-K, and financial statements will not be filed pursuant to Item 7 of Form 8-K. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS (a); (b) Financial Statements; Pro Forma Financial Information. Not applicable. (c) Exhibits The following exhibit was previously filed and is incorporated herein by reference: 2.1 Agreement and Plan of Merger dated July 24, 1997, by and among MLC Holdings, Inc., MLC Network Solutions, Inc., Compuventures of Pitt County, Inc., and the Stockholders of Compuventures of Pitt County, Inc. -3- 4 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. MLC Holdings, Inc. (Registrant) Dated: October 21, 1997 By: /s/ PHILLIP G. NORTON ---------------- ------------------------------------ Phillip G. Norton Chairman and Chief Executive Officer -----END PRIVACY-ENHANCED MESSAGE-----