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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):
January 30, 2002
SPARTA SURGICAL CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 1-11047 22-2870438
(State or other juris- (Commission (I.R.S. Employer ID
diction of incorporation) File Number) Number)
Olsen Centre
849 E Stanley Blvd, Livermore, CA. 94550
(Address of principal executive offices)
Registrant's telephone number, including area code (925) 373-0374
not applicable
(Former name or former address, if changed since last report)
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SPARTA SURGICAL CORPORATION
Form 8-K
ITEM 5 - OTHER EVENTS
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On January 22, 2002, Shepard Medical Products, Inc. ("Shepard") and the Company
agreed to continue to negotiate a revision relating to the terms and structure
under the non-binding letter of intent dated January 4, 2002 ("LOI"). On January
30, 2002, Shepard decided that the LOI merger with the Company is not feasible
and therefore, the LOI is terminated in its entirety. Shepard further decided to
develop the possibility with the Company of a cash deal as an alternative to the
merger. However, there can be no assurance that the Company will be able to
negotiate a new non-binding letter to acquire Shepard.
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SPARTA SURGICAL CORPORATION
Date: January 30, 2002
By /s/ Thomas F. Reiner
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Thomas F. Reiner,
Chairman of the Board,
President and Chief Executive Officer