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) November 18, 1996
UNITY FIRST ACQUISITION CORP.
(Exact Name of Registrant as Specified in Charter)
Delaware 0-21683 13-3899021
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
245 Fifth Avenue - Suite 1502, New York, New York 10016
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (212) 696-4282
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Exhibit Index on Page 5
Page 1 of 13 Pages
Item 1. Changes in Control of Registrant.
Not applicable.
Item 2. Acquisition or Disposition of Assets.
Not applicable.
Item 3. Bankruptcy or Receivership.
Not applicable.
Item 4. Changes in Registrant's Certifying Accountant.
Not applicable.
Item 5. Other Events.
On November 18, 1996 the initial public offering ("IPO") of 1,250,000
Units ("Units") of Unity First Acquisition Corp. ("UFAC") was consummated.
Each Unit consists of one share of Common Stock, $.0001 par value per share
("Common Stock"), one Class A Redeemable Common Stock Purchase Warrant and
one Class B Redeemable Common Stock Purchase Warrant. Each Warrant entitles
the holder to purchase one share of Common Stock. The Units were sold at an
offering price of $6.00 per Unit, generating gross proceeds of $7,500,000.
In accordance with the terms of the Underwriting Agreement, the underwriters
in the IPO were paid 8% of the gross proceeds for commissions and discounts
and 3% of the gross proceeds for its nonaccountable expense allowance. Prior
to such offering, UFAC had total assets of approximately $250,000. Audited
financial statements as of November 18, 1996 reflecting the consummation of
the IPO have been issued by UFAC.
Item 6. Resignations of Registrant's Directors.
Not applicable.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
(a) Financial Statements of Business Acquired
Not applicable.
(b) Pro Forma Financial Information
Not applicable.
Page 2 of 13 Pages
(c) Exhibits
No. Description Page
--- ----------- ----
28.1 Audited Financial Statements 6
Item 8. Change in Fiscal Year.
Not applicable.
Page 3 of 13 Pages
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.
November 18, 1996 Unity First Acquisition Corp.
(Registrant)
/s/ Lawrence Burstein
Lawrence Burstein
President
Page 4 of 13 Pages
EXHIBIT INDEX
No. Description Page
---- ----------- ----
28.1 Audited Financial Statements 6
Page 5 of 13 Pages