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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): MAY 8, 1997
BOLDER TECHNOLOGIES CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE
(State or other jurisdiction of incorporation)
0-28060 84-1166231
(Commission File No.) (IRS Employer Identification No.)
5181 WARD ROAD
WHEAT RIDGE, CO 80033
(Address of principal executive offices and zip code)
Registrant's telephone number, including area code: (303) 422-8200
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ITEM 5. OTHER EVENTS.
BOLDER Technologies Corporation ("BOLDER" or the "Company") is filing this
Report on Form 8-K to take advantage of the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995.
On May 8, 1997, BOLDER issued a press release concerning the Company's receipt
of a commitment for equipment financing and withdrawal of its secondary
offering. The press release read in full as follows:
"BOLDER TECHNOLOGIES CORPORATION RECEIVES COMMITMENT FOR $8 MILLION
EQUIPMENT FINANCING CREDIT LINE; CONCURRENTLY WITHDRAWS REGISTRATION STATEMENT
FOR EQUITY OFFERING
DENVER, May 8/PRNewswire/--BOLDER Technologies Corporation
(Nasdaq-NNM: BOLD), developer and manufacturer of advanced,
high power rechargeable batteries based on its patented Thin
Metal Film (TMF (TM)) technology, today announced it has
signed a commitment letter with Transamerica Business Credit
Corporation to provide up to $8 million for the financing of
BOLDER's first state-of-the-art, high volume manufacturing
line.
This transaction increased BOLDER's credit line with
Transamerica to $13 million. The Company previously announced
that it had secured a credit line from Transamerica of up to
$5 million for the financing of tenant improvements in
BOLDER's new 120,000-square-foot manufacturing facility and
corporate headquarters in Golden, Colo. In addition,
Transamerica requested and was granted a "Right of First
Refusal" with respect to the next $15 million of equipment
financing by BOLDER.
'These financings should allow BOLDER to continue its
near-term growth and expansion plans,' said Joseph F.
Fojtasek, chief financial officer. 'Equipment financing is
currently a more attractive alternative than selling equity
securities. Consequently, we have withdrawn our registration
statement filed February 13, 1997.'
'We are pleased to provide financing that will enable BOLDER
to bring its products into the marketplace,' said Gerald A.
Michaud, senior vice president - marketing for Transamerica
Business Credit Corporation - Technlogy Finance Division. 'We
are excited to be able to help BOLDER realize its business
opportunity.'
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The Company continues to make steady progress toward
completion of the testing and qualification of its first
production line being built by Wright Industries, a leading
developer of high speed automated manufacturing lines. Upon
qualification, the production line will be disassembled and
shipped to BOLDER's facility where it will be reassembled,
tested and requalified for high volume production. The line
will be housed in the Company's new manufacturing facility,
which is nearing completion.
Except for the historical information contained herein, this
news release contains forward-looking statements that involve
risks and uncertainties, including manufacturing risks and
risks of the proposed expansion, product development, and the
uncertainty of market acceptance, as well as the other risks
detailed from time to time in the Company's SEC filings,
including the Company's February 13, 1997 Prospectus, the
Company's Annual Report and Form 10-KSB for the year ended
December 31, 1996, and the Company's reports on Form 8-K filed
January 3 and February 5, 1997.
Headquartered in the Denver suburb of Wheat Ridge, BOLDER
Technologies Corporation is an energy technology company that
is developing and commercializing advanced, high power,
rechargeable battery systems based on its patented TMF
technology. The Company's TMF technology uses proven
lead-acid electrochemistry in a proprietary configuration that
has higher power density than any commercially available
rechargeable battery. BOLDER Technologies believes that high
power and other performance characteristics of the TMF
Technology offer a number of advantages over existing batteries
for a wide range of current and future applications."
BOLDER wishes to caution readers that the Company will not receive the proceeds
from the equipment financing credit line until the legal documentation for the
transaction is completed. While the Company currently believes that there is
no reason why the documentation will not be completed in a timely manner
satisfactory to the Company, if the Company is unable to complete the
transaction, the impact could be material. In addition, BOLDER wishes to
caution readers that the risks detailed from time to time in the Company's
other reports filed with the Securities and Exchange Commission, including the
report on Form 10-KSB for the year ended December 31, 1996, its registration
statement on Form SB-2 filed on February 13, 1997, and the reports on Form 8-K
filed on January 3, 1997, February 5, 1997 and March 17, 1997, among others,
in some cases have affected, and in others could cause the Company's results
to differ materially from those expressed in any forward-looking statements
made by BOLDER and could otherwise affect, the Company's business, results of
operations and financial condition.
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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.
Dated: May 8, 1997 BOLDER TECHNOLOGIES CORPORATION
By: /s/ Joseph F. Fojtasek
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Joseph F. Fojtasek
Vice President and Chief Financial Officer
(Principal Financial and Accounting
Officer)