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): December 5, 1997
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HERTZ TECHNOLOGY GROUP, INC.
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(Exact name of Registrant as specified in its charter)
DELAWARE 0-21679 13-3896069
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
75 Varick Street, 11th Floor, New York, New York 10013
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(Address of principal executive office) (Zip Code)
(212) 634-4000
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Registrant's telephone number, including area code:
N/A
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(Former name or former address, if changed since last report)
Item 2: Acquisition or Disposition of Assets
On December 5, 1997, a wholly-owned subsidiary of Hertz Technology Group,
Inc. (the "Buyer") acquired substantially all of the assets and business of
Landau Metal Products Corp., a company engaged in the business of sheet metal
fabrication in Long Island City, New York ("Landau"). The aggregate
consideration paid to Landau was $660,000 in cash on the closing and a
promissory note in the principal amount of $380,000, payable in three annual
installments commencing one year from the date of closing. The principal officer
and sole stockholder of Landau was employed effective as of the closing by the
Buyer for five years at a fixed annual salary with additional incentive
compensation if sales of the new company exceed certain prescribed amounts.
Funds of Hertz Technology Group, Inc. (the "Registrant") were used to make the
acquisition. The metal fabrication facility and equipment acquired will be used
to complement the operations of the Registrant's wholly-owned subsidiary, Hergo
Ergonomic Support Systems Inc. and will also be used to continue to service the
existing customer base of Landau.
Item 7: Financial Statements, Pro Forma Financial
Information and Exhibits
Exhibits:
A Asset Purchase Agreement dated as of November 20, 1997 by and among
Hertz Technology Group, Inc., Landau Metal Products Corp. And Albert
Hirschson
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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.
HERTZ TECHNOLOGY GROUP, INC.
Date: December 16, 1997 By: /s/ Eli E. Hertz
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Eli E. Hertz, Chairman, President and
Chief Executive Officer
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