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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Date of Report (Date of earliest event reported): June 6, 1996
HURCO COMPANIES, INC.
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(Exact name of registrant as specified in its charter)
INDIANA 0-9143 35-1150732
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
ONE TECHNOLOGY WAY
INDIANAPOLIS, INDIANA 46268
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(Address of principal
executive offices)
Registrant's telephone number, including area code: (317) 293-5309
NOT APPLICABLE
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(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS
On June 6, 1996, the Registrant issued a press release announcing a
distribution to holders of record of the Registrant's Common Stock at the close
of business on June 5, 1996, of non-transferable rights to purchase shares of
Common Stock at $4.63 per share. A copy of the press release is included as an
exhibit to this filing.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Financial Statements
None
Exhibits
EXHIBIT NO. DESCRIPTION
99 Press Release of Hurco Companies, Inc. dated June 6, 1996
SIGNATURE
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 thereunto duly authorized.
Dated: June 6, 1996
HURCO COMPANIES, INC.
By:/S/ ROGER J. WOLF
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Roger J. Wolf,
Senior Vice President and
Chief Financial Officer
HURCO ANNOUNCES RIGHTS OFFERING
INDIANAPOLIS, INDIANA, June 6, 1996...Hurco Companies, Inc. (NASDAQ Symbol:
HURC) today announced that holders of record of the Company's Common Stock as of
the close of business on June 5, 1996, would receive non-transferable rights to
subscribe for additional shares of Common Stock in a rights offering being
conducted by the Company.
Eligible shareholders will receive two-tenths of a right for each share of
Common Stock owned on the record date. Each whole right will entitle the holder
to purchase one share of Common Stock at a subscription price of $4.63 per
share. Accordingly, record holders will have the opportunity to purchase one
additional share for each five shares owned on the record date.
The subscription price represents a discount of 10% from the average of the
closing sales prices for the 30 trading days ended June 3, 1996, the date
preceding the Company's Board of Directors' approval of the terms of the rights
offering. On June 5, 1996, the closing sales price of the Common Stock as
reported by NASDAQ was $6 5/8 per share.
The aggregate number of shares of Common Stock to be offered to
shareholders in the rights offering is approximately 1,085,300. The rights
offering will expire on July 3, 1996 unless extended by the Company for up to 30
days. A prospectus and related subscription documents will be sent to eligible
shareholders shortly.
Brynwood Partners, II L.P., an affiliate of a major shareholder of the
Company, and two directors of the Company who are affiliated with Brynwood
Partners II L.P., will act as standby purchasers for up to 604,752 shares of
Common Stock.
Proceeds of the rights will be used to prepay indebtedness and for general
corporate purposes.
Georgeson & Company, Inc. (Tel. No. 800-223-2064) is acting as information
agent.
Hurco Companies, Inc. is one of the largest manufacturers of computer numerical
control systems designed and built in the United States for stand-alone machine
tools. The end market for the Company's products consists primarily of
independent job shops and short-run manufacturing operations within large
corporations in industries such as the aerospace, defense, medical equipment,
energy, transportation and computer industries. The Company is based in
Indianapolis, Indiana, has additional manufacturing facilities in Farmington
Hills, Michigan, and has sales, application engineering and service subsidiaries
in High Wycombe, England; Munich, Germany; Paris, France and Singapore. Products
are sold through 85 independent agents and distributors in the United States and
30 other countries. The Company also has direct sales forces in the United
States, the United Kingdom, Germany, France, and Asia.
# # #
SIGNATURE
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 thereunto duly authorized.
Dated: June 6, 1996
HURCO COMPANIES, INC.
By:/S/ ROGER J. WOLF
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Roger J. Wolf,
Senior Vice President and
Chief Financial Officer