-----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, Nrs8bcS9kx7mI56he1PeRgDMgYUZiFW9OqVC5MJyYlUzOXXAsewrclyRDKuaPL0H EDsCXzuCRf4jwHRSn8mgqA== /in/edgar/work/20000808/0000927016-00-002770/0000927016-00-002770.txt : 20000921 0000927016-00-002770.hdr.sgml : 20000921 ACCESSION NUMBER: 0000927016-00-002770 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000808 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 SEC ACT: SEC FILE NUMBER: 000-26540 FILM NUMBER: 688077 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 1 0001.txt FORM 8-K 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 Date of report (Date of earliest event reported): August 8, 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 -------------- ITEM 5. OTHER EVENTS. On August 4, 2000, the Company consummated a sale of 868,234 shares of its Common Stock for an aggregate purchase price of approximately $1,845,000. The sale was accomplished by a private placement of the Common Stock primarily to officers, directors and affiliates of the Company. In connection with the private placement, the Company also issued warrants to purchase approximately 492,000 shares of Common Stock with an exercise price of $4.00 per share. 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 2 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 8, 2000 By: /s/ Ronald Benanto ------------------ Ronald Benanto Chief Financial Officer 3 EXHIBIT INDEX 99.1 Pro Forma Condensed Consolidated Balance Sheet as of June 30, 2000 EX-99.1 2 0002.txt PRO FORMA BALANCE SHEET EXHIBIT 99.1 ------------ NEWSEDGE CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share data)
PROFORMA DECEMBER 31, JUNE 30, JUNE 30, 1999 2000 CHANGE 2000 ---------------------------------------------------------------------------- ASSETS (UNAUDITED) UNAUDITED) Current assets: Cash and cash equivalents $ 20,278 $ 20,004 $ 1,845 21,849 b) Accounts receivable 11,280 12,720 12,720 Due from WinStar - 3,000 2,000 5,000 a) Prepaid expenses and deposits 5,132 6,433 6,433 --------- --------- -------- -------- Total current assets 36,690 42,157 3,845 46,002 --------- --------- -------- -------- Property and equipment, net 9,398 7,732 7,732 --------- --------- -------- -------- Other assets 1,766 1,124 1,124 --------- --------- -------- -------- Total assets $ 47,854 $ 51,013 $ 3,845 $ 54,858 ========= ========= ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 2,869 $ 4,313 $ 4,313 Accrued expenses 14,837 16,502 180 16,682 a)&b) Deferred revenue, current 23,010 27,348 27,348 Current portion of long-term obligations 303 74 74 --------- --------- -------- -------- Total current liabilities 41,109 48,237 180 48,417 --------- --------- -------- -------- Deferred revenue, noncurrent 124 222 222 --------- --------- -------- -------- Stockholders' equity: Common stock 181 182 18 200 b) Additional paid-in capital 130,136 130,783 1,737 132,520 b) Cumulative translation adjustment (58) (87) (87) Accumulated deficit (120,822) (125,598) 1,910 (123,688) a) 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 3,665 6,219 --------- --------- -------- -------- Total liabilities & stockholders' equity $ 47,854 $ 51,013 $ 3,845 $ 54,858 ========= ========= ======== ========
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 Gain on sale b) - Increase reflects the issuance and purchase of private placement common stock and common stock warrants of cash amounting to $1,845,000 and $90,000 of deal related costs. -----END PRIVACY-ENHANCED MESSAGE-----