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): May 07, 2004
I-Sector Corporation
(Exact name of registrant as specified in its charter)
Delaware 0-21479 76-0515249
(State of Incorporation) (Commission File Number)
(IRS Employer Identification No.)
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 12. Other Events
The following announcement of pricing of units equity offering and trading of
units was made on May 07, 2004:
HOUSTON--(BUSINESS WIRE)--May 7, 2004--I-Sector Corporation (AMEX:ISR - NEWS)
announced today that it has priced the public offering of 500,000 Units. The
Units will begin trading today, May 7, 2004, on the American Stock Exchange
under the symbol ISR.U.
Each Unit consists of two shares of common stock and one warrant to purchase one
share of common stock at a price of $12.45. The Units were offered at a public
offering price of $16.60 per Unit, representing $8.3 million of gross proceeds.
The offering is expected to close on May 12, 2004, subject to the satisfaction
of customary closing conditions. The underwriters will have an option to
purchase up to 75,000 additional Units to cover over-allotments. The Company
intends to use the net proceeds of this offering primarily for working capital
and to repay interest-bearing debt.
Paulson Investment Company, Inc. is serving as lead manager and S.W. Bach &
Company and Pali Capital, Inc. are co-managers for this offering. The offering
will be made only by means of a prospectus, a copy of which may be obtained,
when available, from Paulson Investment Company, Syndicate Department, 811 SW
Naito Parkway, Suite 200, Portland, Oregon 97204, phone 503-243-6000, fax
503-243-6018.
A registration statement relating to these securities was filed with, and has
been declared effective by, the Securities and Exchange Commission. This press
release shall not constitute an offer to sell, or the solicitation of an offer
to buy, nor shall there be any sale of these securities in any state in which
such offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state.
Safe Harbor Statement
The statements contained in this document that are not statements of historical
fact, including but not limited to, statements identified by the use of terms
such as "expect," "intend," "may," "will," and other variations or negative
expressions of these terms, are "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995 and involve a number of
risks and uncertainties. The actual results of the future events described in
the forward-looking statements in this document could differ materially from
those stated in the forward-looking statements due to numerous factors,
including factors set forth in the Company's most recent Annual Report on Form
10-K for the year 2003. Recipients of this document are cautioned to consider
these risks and uncertainties and to not place undue reliance on these
forward-looking statements. The Company expressly disclaims any obligation or
undertaking to update or revise any forward-looking statement contained herein
to reflect any change in the Company's expectations with regard thereto, or any
change in events, conditions or circumstances upon which any statement is based.
About I-Sector Corporation
I-Sector Corporation, headquartered in Houston, Texas (AMEX: ISR - NEWS), owns
and operates companies that are engaged in the area of information and
communications technology, with a particular focus on Cisco-centric network
infrastructure and IP telephony solutions. Additional information about I-Sector
is available on the Internet at WWW.I-SECTOR.COM.
[GRAPHIC OMITTED]
Contact:
I-Sector Corporation
James H. Long, 713-795-2000
or
PR Financial Marketing LLC
Jim Blackman, 713-256-0369 (Investor Relations)
JIMBLACKMAN@PRFINANCIALMARKETING.COM
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: May 14, 2004
I-SECTOR CORPORATION
By: /s/ JAMES H. LONG
--------------------------------
James H. Long
Chief Executive Officer, Chief Financial Officer,
President and Chairman of the Board