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) January 11, 2002
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INDIVIDUAL INVESTOR GROUP, INC.
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(Exact Name of Registrant as Specified in Charter)
Delaware 1-10932 13-3487784
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(State or Other Jurisdiction (Commission File (IRS Employer
of Incorporation) Number) Identification No.)
125 Broad Street, 14th Floor, New York, New York 10004
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (212) 742-2277
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Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events
Registrant entered into an Agreement of Sublease ("Agreement") dated
December 18, 2001 between Registrant and Fahnestock & Co. Inc. ("Sublessee"),
which Agreement received written consent of the underlying landlord, 125 Broad
Unit C LLC, by consent dated January 11, 2002. Pursuant to the Agreement,
Registrant will be subletting the majority of its remaining office space not
already sublet and is entitled to receive payments from Sublessee totaling
approximately $534,000 in 2002, $571,000 in 2003 and $147,000 for the first
three months of 2004, which include an electricity charge of $49,050 per annum
that is subject to reduction if Registrant's electricity bill is reduced as set
forth in the Agreement. In connection with the Agreement, Registrant expects to
record a charge of approximately $615,000 primarily related to impairment of the
recorded value of leasehold improvements, furniture, fixtures and equipment.
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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.
Dated: January 16, 2002 INDIVIDUAL INVESTOR GROUP, INC.
By: /s/ Jonathan L. Steinberg
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Jonathan L. Steinberg
Chief Executive Officer
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