UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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 6, 1997
Gum Tech International, Inc.
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(Exact name of registrant as specified in it charter)
Utah 0-27646 87-0482806
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification Number)
4205 North Seventh Avenue
Suite 300
Phoenix, AZ 85013-3080
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(Address of principal executive offices)
Registrant's telephone number, including area code (602) 277-0606
Not applicable
(Former name or former address, if changed since last report)
ITEM 5. Other Events
On March 6, 1997, the Company completed the sale of an aggregate of
$2,530,000.00 convertible debentures. The debentures bear interest at 11% per
annum and are due and payable on January 1, 2002. The debentures are convertible
into shares of the Company's common stock at $4.75 per share. The common stock
issueable under the debentures carries certain registration rights on or after
July 31, 1997. However, any shares issueable upon conversion of the debentures
are subject to a lock-up agreement with the Company through January 31, 1998.
The proceeds of the sale of the convertible debentures will be used for working
capital and other corporate purposes.
ITEM 7. Financial Statements and Exhibits
(c) Exhibits:
10.20 Form of Convertible Note dated February 20, 1997.
10.21 Registration Rights Agreement
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.
GUM TECH INTERNATIONAL, INC.
(Registrant)
By: /s/ Jeffrey L. Bouchy
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Jeffrey L. Bouchy
Chief Financial Officer
Dated: March 6, 1997