0001445260-14-000005.txt : 20140204 0001445260-14-000005.hdr.sgml : 20140204 20140204094725 ACCESSION NUMBER: 0001445260-14-000005 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20140203 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20140204 DATE AS OF CHANGE: 20140204 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADDVANTAGE TECHNOLOGIES GROUP INC CENTRAL INDEX KEY: 0000874292 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-DURABLE GOODS [5000] IRS NUMBER: 731351610 STATE OF INCORPORATION: OK FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10799 FILM NUMBER: 14570366 BUSINESS ADDRESS: STREET 1: 1221 E. HOUSTON CITY: BROKEN ARROW STATE: OK ZIP: 74012 BUSINESS PHONE: 9182519121 MAIL ADDRESS: STREET 1: 1221 EAST HOUSTON STREET CITY: BROKEN ARROW STATE: OK ZIP: 74012 FORMER COMPANY: FORMER CONFORMED NAME: ADDVANTAGE MEDIA GROUP INC /OK DATE OF NAME CHANGE: 19930328 8-K 1 adamsglobalcomm_sale-8k.htm 8-K TO ANNOUNCE AGREEMENT TO SELL MAJORITY NET ASSETS OF ADAMS GLOBAL COMMUNICATIONS adamsglobalcomm_sale-8k.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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) February 3, 2014

ADDVANTAGE TECHNOLOGIES GROUP, INC.
(Exact name of Registrant as specified in its Charter)

Oklahoma
(State or other Jurisdiction of Incorporation)

1-10799
73-1351610
(Commission file Number)
(IRS Employer Identification No.)
   
1221 E. Houston, Broken Arrow Oklahoma
74012
(Address of Principal Executive Offices)
(Zip Code)

(918) 251-9121
(Registrant's Telephone Number, Including Area Code)


(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General InstructionA.2. below):

Written Communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4© under the Exchange Act (17 CFR 240.13e-4(c))
 
 
Item 8.01 Other Events.

ADDvantage Technologies Group, Inc. (Nasdaq: AEY) today announced that it has entered into an agreement to sell the majority of the net assets and operations of one of its subsidiaries, Adams Global Communications to Adams Cable Equipment, a supplier of customer premise equipment (CPE) and other products for the cable television industry, for approximately $2 million in cash. A copy of the press release is furnished as Exhibit 99.1 to this Current Report and is incorporated herein by reference.
 
Item 9.01 Financial Statements and Exhibits.
 
(d) Exhibits
 
The following exhibit is furnished herewith:
 
Exhibit 99.1
 
Press release dated February 3, 2014 issued by the Company. 
 
 
 
SIGNATURES
 

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.

   
ADDvantage Technologies Group, Inc.
   
Date: February 4, 2014
   
 
 
By: /s/ Scott Francis
   
  Scott Francis
   
  Vice-President & Chief Financial Officer
 
 
Exhibit Index

Exhibit Number
Description
99.1
Press Release dated February 3, 2014 issued by the Company.

EX-99.1 2 pressrelease_agcsale.htm PRESS RELEASE TO ANNOUNCE AGREEMENT TO SELL MAJORITY NET ASSETS OF ADAMS GLOBAL COMMUNICATIONS pressrelease_agcsale.htm
ADDvantage Technologies Group, Inc.
1221 E. Houston
Broken Arrow, Oklahoma 74012

For further information
KCSA Strategic Communications
Company Contact:
Garth Russell / Diane Imas
Scott Francis        (9l8) 25l-9121
(212) 896-1250 / (212) 896-1242
grussell@kcsa.com / dimas@kcsa.com

ADDvantage Technologies Announces Agreement to Sell Majority Net Assets of Adams Global Communications
- - -

Adams Cable Equipment to Acquire Majority Net Assets of Adams Global Communications

BROKEN ARROW, Oklahoma, February 3, 2014 – ADDvantage Technologies Group, Inc. (“ADDvantage”) (NASDAQ: AEY) today announced that it has entered into an agreement to sell the majority of the net assets and operations of one of its subsidiaries, Adams Global Communications to Adams Cable Equipment, a supplier of customer premise equipment (CPE) and other products for the cable television industry, for approximately $2 million in cash.

As part of the sales agreement, ADDvantage retains their existing relationship with ARRIS, as well as non-CPE inventory consisting primarily of headend and access and transport equipment.  In addition, ADDvantage will retain the Adams Global Communications facility.

David Humphrey, President and CEO, stated, “We feel that this deal is a strategic decision for ADDvantage as it will help us better focus on our core competency, which entails selling headend and access and transport equipment on a commercial scale to cable companies and larger MSOs. Since a large portion of Adams Global Communications concentrates on the “in-home” CPE business, including the sale of set-top boxes and modems, we welcomed this opportunity to sell a major portion of the subsidiary and align our remaining businesses more effectively.

“In fact, we believe that Adams Global Communications and Adams Cable Equipment are stronger as a combined entity since Adams Cable Equipment is a larger operation with the volume, capacity and proper resources to successfully grow this subsidiary. Another important aspect of this transaction is that Adams Cable Equipment is retaining all of our Adams Global Communications employees, as we believe that they will have the opportunity to thrive in the combined company.

“We are confident that this was the right move for ADDvantage as we seek to diversify our business into the telecommunications space and will be able to utilize the $2 million acquired from the transaction towards our acquisition strategy,” concluded Mr. Humphrey.

About ADDvantage Technologies Group, Inc.
ADDvantage Technologies Group, Inc. supplies the cable television (CATV) industry with a comprehensive line of new and used system-critical network equipment and hardware from leading manufacturers in the industry, including Cisco and ARRIS (acquired Motorola Home), as well as operating a national network of technical repair centers.  The equipment and hardware ADDvantage distributes is used to acquire, distribute, and protect the broad range of communications signals carried on fiber optic, coaxial cable and wireless distribution systems, including television programming, high-speed data (Internet) and telephony.

ADDvantage operates through its subsidiaries, Tulsat, Tulsat-Atlanta, Tulsat-Nebraska, Tulsat-Texas, NCS Industries and ComTech Services. For more information, please visit the corporate web site at www.addvantagetechnologies.com.


The information in this announcement may include forward-looking statements.  All statements, other than statements of historical facts, which address activities, events or developments that the Company expects or anticipates will or may occur in the future, are forward-looking statements.  These statements are subject to risks and uncertainties, which could cause actual results and developments to differ materially from these statements.  A complete discussion of these risks and uncertainties is contained in the Company’s reports and documents filed from time to time with the Securities and Exchange Commission.

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