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
Date of Report (Date of earliest event reported): February 2, 1999
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CLX Energy, Inc.
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(Exact name of registrant as specified in its charter)
Colorado 0-9392 84-0749623
________________________ _______________ ________________
(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
518 Seventeenth Street, Suite 745, Denver, Colorado 80202
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (303) 825-7080
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1776 Lincoln Street, Suite 806, Denver, Colorado 80203
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(Former name or address, if changed since last report.)
ITEM 1. Change in Control of Registrant
On February 2, 1999, CLX Energy, Inc. (the "Company") executed a Stock
Purchase Agreement (the "Agreement") pursuant to which a change in control of
the Company occurred. The Company issued an aggregate of 5,773,973 shares of
its $.01 par value common stock (the "Common Stock") pursuant to the
Agreement. The acquirors of the 5,773,973 shares of Common Stock own
approximately 55% percent of the outstanding Common Stock of the Company as
the result of that acquisition based on the 10,498,132 shares of Common Stock
of the Company outstanding. The following table sets forth the names of the
persons to whom the shares of Common Stock were issued, the number of shares
issued to such persons, and the percentage of the outstanding shares of Common
Stock represented by such shares.
Percentage
Outstanding
Number of Shares of
Name Shares Common Stock
James L. Burkhart Living
Trust dtd. 9-17-97 2,519,551 24.0%
BKM Family Limited Partnership 839,851 8.0%
B.J. Reid 839,851 8.0%
D.M. Finsthwait, Trustee of the
Finsthwait 1973 Trust dtd. 2-25-73 524,907 5.0%
R. M. Sitton Investments, Ltd. 314,944 3.0%
Mike W. Burkhart 209,963 2.0%
Steven J. Williams 157,472 1.5%
Clyde F. & Cheryl W.
Wootton JTWROS 157,472 1.5%
Gee Family Trust dtd. 12-23-92 104,981 1.0%
James Keith Burkhart Living
Trust dtd. 11-25-98 104,981 1.0%
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TOTALS 5,773,973 55.0%
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The Company received a total of $275,000 cash for the issuance of the
5,773,973 shares of Common Stock and the acquirors of those shares agreed to
loan to the Company, or guaranty debt of the Company for, up to $300,000 for
oil and gas acquisitions during the period commencing on February 2, 1999 and
ending on February 2, 2002.
ITEM 5. Other Events
James L. Burkhart and Robert E. Gee were appointed to the Board of
Directors of the Company on January 28, 1999.
ITEM 7. Financial Statements and Exhibits
(c) Exhibits
10.1 Stock Purchase Agreement between the Company and
James L. Burkhart, Trustee of the James L. Burkhart
Living Trust.
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: February 9, 1999 CLX ENERGY, INC.
By:/s/E.J. Henderson
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E. J. Henderson, President