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): February 12, 1997 Commission file number: 0-20081 PruTech Research and Development Partnership III - -------------------------------------------------------------------------- (Exact name of Registrant as specified in its charter) California 77-0129484 - ---------------------------------------------------------------------------- (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 440 Mission Court, Suite 250, Fremont, California 94539 - ---------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (510) 656-1855 N/A - ---------------------------------------------------------------------------- Former name, former address and former fiscal year, if changed since last report. Item 2 - Aquisition or Disposition of Assets During the period from January 30, 1997 through February 12, 1997, the Registrant sold 226,500 shares of Creative BioMolecules, Inc. common stock on the open market for an aggregate price of approximately $2,731,000. The sales resulted in a cumulative realized gain for both financial reporting and income tax purposes of approximately $1,990,000. An unrealized gain of approximately $873,000 relating to these shares (which was reported as a separate component of partners' capital at September 30, 1996) was reversed as a result of the sales. 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. PruTech Research and Development Partnership III By: R&D Funding Corp A Delaware corporation, General Partner By: /s/ Steven Carlino Date: February 27, 1997 - -------------------------------- Steven Carlino Vice President Chief Accounting Officer for the Registrant