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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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):
JULY 8, 2002
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FIRSTMARK CORP.
(Exact name of registrant as specified in charter)
MAINE
(State or other Jurisdiction of Incorporation or Organization)
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0-20806 01-0389195
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(Commission File Number) (IRS Employer Identification No.)
2700 VIA FORTUNA 78746
SUITE 400 -----
AUSTIN, TEXAS (Zip Code)
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(Address of Principal Executive Offices)
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(512) 306-8222
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(Registrant's telephone
number, including area code)
NO CHANGE
(Former Name or Former Address, if Changed Since Last Report)
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS.
On July 8, 2002, the Registrant, through its newly-formed acquisition
subsidiary, Firstmark Aerospace Corp., completed the acquisition of
substantially all of the assets of Tecstar Electro Systems, Inc. ("TES") used by
TES in its business of manufacturing, assembling, maintaining and repairing
electromechanical components and equipment used in aviation and other
industries, including approximately $2 million in cash and cash equivalents, all
accounts receivable, equipment, inventory and pre-paid expenses but excluding
primarily the land and building in which TES operated. The Registrant intends to
use the acquired assets to continue operating the business as its primary
operations.
The Registrant acquired the assets for a purchase price of $3,600,000
in cash, $250,000 of which shall be held in escrow for three months following
the closing of the transaction pending resolution of certain contingent
liabilities and $50,000 of which shall be held in a reserve account to cover
expenses of TES related to its land and building.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a) Financial Statements of Business Acquired
To be filed subsequently in accordance with Item
7(a)(4) of Form 8-K
(b) Pro Forma Financial Information
To be filed subsequently in accordance with Item
7(b)(2) of Form 8K
(c) Exhibits
None.
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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.
FIRSTMARK CORP.
Dated: July 11, 2002 By: /s/ H. WILLIAM COOGAN, JR.
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H. William Coogan, Jr.
Chairman of the Board, President
and Chief Executive Officer
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