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
MARCH 24, 1998
Date of Report (Date of earliest event reported)
LASER ACQUISITION CORP.
(Exact name of Registrant as specified in its charter)
DELAWARE 333-29123 65-0752460
(State of Incorporation (Commission File No.) (IRS Employer
Identification No.)
2111 E. 37TH STREET NORTH
WICHITA, KANSAS 67219
(Address of principal executive offices, including zip code)
(316) 832-2700
(Registrant's telephone number, including area code)
CLN HOLDINGS INC.
5900 NORTH ANDREWS AVENUE, SUITE 700, FORT LAUDERDALE, FL 33309
(Former Name or Former Address, if Changed Since Last Report)
Item 2. Acquisition or Disposition of Assets.
The Coleman Company, Inc., a Delaware corporation (the
"Company") and an indirect subsidiary of CLN Holdings Inc., a
Delaware corporation (the "Registrant"), has completed the sale
of all of the outstanding shares of capital stock of Coleman
Safety & Security Products, Inc., a Delaware corporation and a
wholly-owned subsidiary of the Company, to Ranco Incorporated
of Delaware ("Ranco"), a Delaware corporation and a
wholly-owned subsidiary of Siebe plc, an English corporation
("Siebe"), as of March 24, 1998. The sale was made pursuant to
the terms of a Stock Purchase Agreement, dated as of February
18, 1998, among the Company, Ranco and Siebe, a copy of which
is filed as Exhibit 2.1 and is incorporated herein by
reference. The purchase price was approximately $105 million
and is subject to a post-closing adjustment. A copy of the
press release, dated March 25, 1998, announcing the closing of
the sale is filed herewith as Exhibit 99.1 and is incorporated
herein by reference.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
(b) Pro Forma Financial Information
The Company intends to file the pro forma financial
information required by Item 7(b) no later than 60 days
after April 8, 1998, the date by which this Current
Report on Form 8-K must be filed.
(c) Exhibits
2.1 Stock Purchase Agreement, dated as of February 18,
1998, among the Company, Ranco and Siebe
(incorporated by reference to Exhibit 10.56 to the
Company's Annual Report on Form 10-K for the fiscal
year ended December 31, 1997 filed with the
Commission on March 24, 1998)
10.1 License Agreement, dated as of March 24, 1998,
among the Company, Ranco and Siebe
99.1 Text of Press Release of the Company, dated
March 25, 1998
SIGNATURE
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.
LASER ACQUISITION CORP.
By: /s/ David C. Fannin
____________________________
Name: David C. Fannin
Title: Executive Vice President,
General Counsel and
Secretary
Date: April 8, 1998
EXHIBIT INDEX
Exhibit No. Exhibit Page
- ----------- ------- ----
10.1 License Agreement, dated as of March 24, 1998,
among the Company, Ranco and Siebe
99.1 Text of Press Release of the Company, dated
March 25, 1998