-----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, VpbtqQz4/9HqO6k2+pSthQpFokAQhQNoTcKXt9qs74WDz49HLwGE1qlCld//gUTI jACL67nYUVyEOnm8GEDLmA== /in/edgar/work/20000808/0000927016-00-002762/0000927016-00-002762.txt : 20000921 0000927016-00-002762.hdr.sgml : 20000921 ACCESSION NUMBER: 0000927016-00-002762 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000801 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20000808 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NEWSEDGE CORP CENTRAL INDEX KEY: 0000858912 STANDARD INDUSTRIAL CLASSIFICATION: [7370 ] IRS NUMBER: 043016142 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: SEC FILE NUMBER: 000-26540 FILM NUMBER: 687744 BUSINESS ADDRESS: STREET 1: 80 BLANCHARD RD CITY: BURLINGTON STATE: MA ZIP: 01803 BUSINESS PHONE: 7812293000 MAIL ADDRESS: STREET 1: DESKTOP DATA INC STREET 2: 80 BLANCHARD RD CITY: BURLINGTON STATE: MA ZIP: 01803 FORMER COMPANY: FORMER CONFORMED NAME: DESKTOP DATA INC DATE OF NAME CHANGE: 19950629 8-K/A 1 0001.txt FORM 8-K/A SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 __________ FORM 8-K/A 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 1, 2000 NewsEdge Corporation ----------------------------------------------------------------- (Exact Name of Registrant as Specified in Charter) Delaware 0-26540 04-3016142 - ------------------------- --------------- -------------------- (State or Other Jurisdiction (Commission (IRS Employer of Incorporation) File Number) Identification No.) 80 Blanchard Road, Burlington, Massachusetts 01803 ------------------------------------------------- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (781) 229-3000 -------------- -2- ITEM 5. OTHER EVENTS. On August 1, 2000, NewsEdge Corporation (the "Company"), Office.com Inc., a Delaware corporation (the "Purchaser") and Individual.com, Inc., a Delaware corporation, a wholly owned subsidiary of the Company ("Individual") entered into an amendment (the "Amendment") dated as of August 1, 2000 to that certain stock purchase agreement, dated as of February 18, 2000 (the "Stock Purchase Agreement"), which provided for the sale by the Company of its remaining 20% interest in Individual to Office.com, Inc. An initial purchase and sale of 80% of the Company's ownership interest in Individual occurred on February 18, 2000. As a result of the Company re-negotiating certain related licensing agreements, both parties mutually agreed to amend the Stock Purchase Agreement. Pursuant to the Amendment, the purchase and sale of the remaining 20% interest was completed on August 1, 2000, rather than February 28, 2001 as originally contemplated by the Stock Purchase Agreement. Under the terms of the Amendment, the Company will receive a $3,000,000 payment on September 1, 2000, a $1,000,000 payment on December 26, 2000 and a final $1,000,000 payment on February 28, 2001. The purchase price was arrived at after an arms-length negotiation among the parties. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. (a) Financial Statements. -------------------- None. (b) Pro Forma Financial Information. ------------------------------- The Company's Unaudited Pro Forma Condensed Consolidated Balance Sheet as of June 30, 2000, reflecting the transaction described in this report, is included as Exhibit 99.1 to this report and is incorporated herein by reference. (c) Exhibits. -------- EXHIBIT NO. DESCRIPTION - ----------- ----------- 99.1 Unaudited Pro Forma Condensed Consolidated Balance Sheet as of June 30, 2000 SIGNATURES 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 hereunto duly authorized. NEWSEDGE CORPORATION Dated: August 7, 2000 By: /s/ Clifford Pollan ------------------- Clifford Pollan Chief Executive Officer -3- EXHIBIT INDEX 99.1 Pro Forma Condensed Consolidated Balance Sheet as of June 30, 2000 EX-99.1 2 0002.txt EXHIBIT 99.1 Exhibit 99.1 PART I - FINANCIAL INFORMATION ------------------------------- ITEM 1 NEWSEDGE CORPORATION AND SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share data) PROFORMA DECEMBER 31, JUNE 30, JUNE 30, 1999 2000 CHANGE -A) 2000 --------------------------------------------------------------------- ASSETS (UNAUDITED) (UNAUDITED) (UNAUDITED) Current assets: Cash and cash equivalents $ 20,278 $ 20,004 $ 20,004 Accounts receivable 11,280 12,720 12,720 Due from WinStar - 3,000 2,000 5,000 Prepaid expenses and deposits 5,132 6,433 6,433 ---------------------------------------------------------------------- Total current assets 36,690 42,157 2,000 44,157 ---------------------------------------------------------------------- Property and equipment, net 9,398 7,732 7,732 ---------------------------------------------------------------------- Other assets 1,766 1,124 1,124 ---------------------------------------------------------------------- Total assets $ 47,854 $ 51,013 2,000 $ 53,013 ====================================================================== LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 2,869 $ 4,313 $ 4,313 Accrued expenses 14,837 16,502 90 16,592 Deferred revenue, current 23,010 27,348 27,348 Current portion of long-term obligations 303 74 74 ----------------------------------------------------------------------- Total current liabilities 41,109 48,237 90 48,327 ----------------------------------------------------------------------- Deferred revenue, noncurrent 124 222 222 ----------------------------------------------------------------------- Stockholders' equity: Common stock 181 182 182 Additional paid-in capital 130,136 130,783 130,783 Cumulative translation adjustment (58) (87) (87) Accumulated deficit (120,822) (125,598) 1,910 (123,688) Treasury stock, at cost; 432,000 shares at December 31, 1999 and June 30, 2000, respectively (2,726) (2,726) (2,726) ----------------------------------------------------------------------- Total stockholders' equity 6,711 2,554 1,910 4,464 ----------------------------------------------------------------------- Total liabilities & stockholders' equity $ 47,854 $ 51,013 $ 2,000 $ 53,013 =======================================================================
(a - Executed Amendment to NewsEdge Corporation's sale of Individual.com, Inc. to Winstar provides a $2,000,000 receivable from Winstar to be paid as $1 million on both 12/26/00 and 2/28/01, $1,910,000 present value discounted gain on sale, and $90,000 of deferred Interest on sale -----END PRIVACY-ENHANCED MESSAGE-----