SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
--------------------------
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities and Exchange Act of 1934
Date of Report: (Date of earliest event reported): June 5, 2000 (May 19, 2000)
Allstar Systems, Inc.
(Exact name of registrant as specified in its charter)
Delaware 76-0515249
(State of Incorporation) (IRS Employer Identification No.)
0-21479
(Commission File Number)
6401 Southwest Freeway
Houston, Texas 77074
(Address of Registrant's principal executive offices)
(713) 795-2000
(Registrant's telephone number, including area code)
(Not Applicable)
(Former name or former address, if changed since last report)
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
On May 19, 2000, Allstar Systems, Inc. (the "Company"), pursuant to the
terms of the Asset Purchase Agreement, dated as of March 16, 2000 (the "Purchase
Agreement"), between the Company and Amherst Computer Products Southwest, L.P.
and Amherst Technologies, L.L.C., sold its Computer Products division and
certain assets of its IT Business located in El Paso, Texas for approximately
$16.4 million, subject to certain post-closing adjustments. The Company used the
proceeds from the sale to repay $9,300 in debt, which represented all of its
debt, to Deutsche Financial Services ("DFS") and expects to satisfy capital
requirements from its existing cash balances, collection of its accounts
receivables and borrowings under the DFS credit facilities. The effects of this
transaction have been previously reported in the Company's Form 10-Q for the
three months ended March 31, 2000.
The Purchase Agreement and the transactions contemplated thereby were
approved by stockholders at a special meeting on May 19, 2000.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(c) Exhibits
2.1 Asset Purchase Agreement, dated as of March 16, 2000,
by and among Amherst Southwest Computer Products, L.P., Amherst Technologies,
L.L.C. and the Company.
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.
Date: June 5, 2000
ALLSTAR SYSTEMS, INC.
By: /s/Donald R. Chadwick
Donald R. Chadwick
Secretary
INDEX TO EXHIBITS
EXHIBIT DESCRIPTION OF EXHIBIT
2.1* Asset Purchase Agreement, dated as of March 16, 2000,
by and among Amherst Southwest Computer Products, L.P., AmherstTechnologies,
L.L.C. and the Company.
*Incorporated by reference from the Company's Form 8-K
filed with the SEC on March 21, 2000