U.S. 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 26, 1999
Commission file number 0-22464
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KOALA CORPORATION
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(Exact name of small business issuer
as specified in its charter)
Colorado 84-1238908
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(State or other jurisdiction of (IRS Employer Identification No.)
incorporation or organization)
11600 E. 53rd Avenue, Unit D, Denver, CO 80239
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(Address of principal executive offices)
(303) 574-1000
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(Issuer's telephone number)
Not Applicable
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(Former name, former address, and former fiscal year,
if changed since last report)
ITEM 2. ACQUISITION OF ASSETS
On March 26, 1999, Koala Corporation (the "Company"), acquired certain
of the assets of Superior Foam & Polymers, Inc., a Texas corporation ("Superior
Foam"), for the purchase price of $5.0 million in cash and $1.0 million in the
Company's common stock. The Company financed the payment of the cash
consideration through the use of their revolving credit facility with U.S. Bank
National Association.
Founded in 1991, Superior Foam designs, manufactures and markets
commercial foam activity products, which are created in a variety of customized
themes.
The purchase price and terms were negotiated on an arms length basis
with Superior Foam. No principal of Superior Foam had a relationship with the
Company prior to the transaction.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS
(c) Exhibits.
2.1 Agreement for Sale and Purchase of Assets dated March 26, 1999 by
and among Koala Corporation, Superior Foam & Polymers, Inc.,
James T. New, Jr. and Kevin C. Brown.
99.1 Press Release.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
KOALA CORPORATION
Date: March 30, 1999 By: /s/ Mark A. Betker
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Mark A. Betker, Chairman and Chief
Executive Officer