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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) JULY 1, 1999
DeVRY INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 012751 36-3150143
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(State or other jurisdiction (Commission (IRS Employer
of incorporation File Number) Identification No.)
ONE TOWER LANE, OAKBROOK TERRACE, IL 60181
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (630)571-7700
Exhibit Index is located on page 5 Total number of pages: 101
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DEVRY INC.
FORM 8-K INDEX
Page No.
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Item 2 - Acquisition of Assets
Description of acquisition of substantially all of
the assets of the Denver Technical College. 3
Item 7 - Financial Statements and Exhibits 3
Signatures 4
Exhibit Index 5
Exhibits 6 - 101
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Item 2 - Acquisition of Assets
The description of the purchases contained herein is qualified in its entirety
by reference to the Purchase Agreement and Asset Purchase Agreement which are
attached hereto as Exhibit 2 and incorporated herein by reference.
On July 1, 1999, the Company completed its acquisition, for cash, of the
Denver Technical College. The purchase price of $23,500,000 for substantially
all of the tangible operating assets, trademarks, copyrights and intellectual
property is subject to adjustment as described in the purchase agreement.
These assets, which were purchased from the Educational Development
Corporation and its stockholders, were acquired by DeVry Inc.
In addition, on July 1, 1999, the Company completed the acquisition, for cash,
of certain land and building used by the Denver Technical College. The
purchase price was $3,750,000. These assets, which were purchased from the
Niagara Limited Partnership, were acquired by DeVry Inc.
Funds for these purchases were obtained under the Company's Revolving Loan
Agreement with a group of banks.
Item 7 - Financial Statements and Exhibits
In accordance with Regulation S-X, Rule 3-05, financial statements for the
Denver Technical College are not required to be filed.
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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 thereunto duly authorized.
Date: July 16, 1999 /s/Ronald L. Taylor
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Ronald L. Taylor
President and Chief
Operating Officer
Date: July 16, 1999 /s/Norman M. Levine
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Norman M. Levine
Vice President Finance,
Controller, Chief Financial
and Accounting Officer
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EXHIBIT INDEX
Sequentially
Numbered
Exhibit # Item Page
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2 Asset Purchase Agreement from
Educational Development Corporation 6 - 66
2 Purchase Agreement from
Niagara Limited Partnership 67 - 101