UNITED STATES
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): March 10, 2000
DHB Capital Group Inc.
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(Exact name of registrant as specified in its charter)
Delaware 0-22429 11-3129361
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(State or other jurisdiction (Commission (IRS Employer
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of incorporation) File Number) Identification No.)
555 Westbury Avenue, Carle Place, New York 11514
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (516) 997-1155
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Former Address
(11 Old Westbury Road, Old Westbury, NY 11568)
Item 2. Acquisition or Disposition of Assets:
On March 10, 2000, DHB Capital Group Inc. ("the Company") sold
substantially all of the assets of its subsidiaries Lanxide Electronic
Components Inc. and DHB KK pursuant to DMC2 Electronic Components Corporation
(an unrelated third party.) Both of these subsidiaries are suppliers of silicon
carbide/aluminum composites to the electronics industry. The purchase price was
$4,375,000 less the outstanding loan balance of Lanxide Electronics' Delaware
Economic Loan of $141,217. The proceeds of this sale retired all of the
outstanding bank debt of the Company to the Bank of New York. The sales price
was determined through armslength negotiations, at a price the Company believes
was fair:
The sale of the Lanxide Subsidiaries reflecs the Company's strategic decision to
refocus on its core business, the design, development and production of
technologically advanced soft body armor for the U.S. Military and Law
Enforcement communities.
Item 7. Financial Statements and Exhibits.
(b) Pro forma financial information
It is impractical to provide any pro forma financial information, which
may be required at the time of the filing of this report on Form 8-K. The
required pro forma financial financial information will be included in the
Company's 10-K for the year ended December 31, 1999, which will be filed on or
before March 31, 2000.
(c) Exhibits
Unless otherwise noted the following exhibits are filed herewith:
1 Asset Purchase Agreement
2 Agreement on Transfer of Business
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
DHB Capital Group, Inc.
Registrant
Date: March 20, 2000 /s/ Dawn M. Schlegel
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Dawn M. Schlegel,
Chief Financial Officer