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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) December 2, 1999.
Accent Color Sciences, Inc.
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(Exact name of registrant as specified in its charter)
Connecticut 0-29048 06-1380314
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
800 Connecticut Boulevard, East Hartford, CT 06103
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (860) 610-4000
This is page 1 of 4 pages. Exhibit Index is on Page 3
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Item 5. Other Events
On December 2, 1999, Accent Color Sciences, Inc. (the "Company"),
announced that it has successfully concluded a private equity financing of
approximately $4.5 million, including $1.1 million of bridge financing
previously announced. The debt portion of the bridge financing was converted to
equity as part of the transaction. A new class of convertible preferred stock
was issued in the just-completed portion of the financing. Each share of the new
Series C Convertible Preferred Stock, sold at $100 per share, is convertible at
any time into the Company's common stock at $0.40 per share.
The holders of the Company's outstanding Series B Convertible Preferred
Stock have agreed to accept terms similar to those of the new Series C
Convertible Preferred Stock. As part of the agreement, the Series B Convertible
Preferred holders will have the same fixed conversion rate and will no longer
receive a 6% annual premium or have redemption rights.
The Company issued a press release entitled "Accent Color Sciences, Inc.
Announces it has Completed $4.5 Million of Private Equity Financing" on December
2, 1999, a copy of which is filed herewith as an exhibit hereto.
Item 7. Financial Statements and Exhibits
(c) Exhibits.
A copy of the press release referred to in Item 5 above is filed
herewith as Exhibit 99.1.
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.
ACCENT COLOR SCIENCES, INC.
Date December 14, 1999 By: /s/ Charles E. Buchheit
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Charles E. Buchheit
President and Chief Executive Officer
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