Current Report on Form 8-K
UNITED
STATES
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 6,
2007
___________________
ERGO
SCIENCE CORPORATION
(Exact
name of registrant as specified in its charter)
Delaware
(State
or other
jurisdiction
of incorporation)
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333-69172
(Commission
File Number)
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04-3565746
(I.R.S.
Employer
Identification
Number)
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|
|
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790
Turnpike St., Suite 202
North
Andover, MA
(Address
of principal executive offices)
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01845
(Zip
Code)
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Registrant’s
telephone number, including area code: (978)
688-8833
Not
Applicable
(Former
name or former address, if changed since last report.)
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
o |
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
|
o |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
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o |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
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Item
3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing
The
information contained in Item 8.01 below is incorporated herein by
reference.
Item
3.03 Material Modification to Rights of Security Holders
The
information contained in Item 8.01 below is incorporated herein by
reference.
Item
5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal
Year
The
information contained in Item 8.01 below is incorporated herein by
reference.
Item 8.01
Other Events
Ergo
Science Corporation (the “Company”) announced today that it has filed
certificates of amendment to its certificate of incorporation with the Secretary
of State of Delaware to affect a 1-for-200 reverse stock split of the Company’s
common stock, par value $0.01 per share (“common stock”), to be followed
immediately by a 200-for-1 forward stock split of the Company’s common stock
(collectively, the “transaction”). The transaction was effective as of 11:58
p.m. (Eastern Time) on February 6, 2007. The main purpose of the transaction
is
to permit the Company to deregister the common stock under the Securities
Exchange Act of 1934, as amended (the “Exchange Act”) and thereby avoid the
expenses associated with filing reports with the Securities and Exchange
Commission.
Pursuant
to the transaction, stockholders of record holding fewer than 200 shares of
the
Company’s common stock immediately before the transaction will have such shares
aggregated, converted into the right to receive a cash payment of $2.10 for
each
such share owned before the reverse stock split and sold to William T. Comfort
III, a stockholder and director of the Company. Stockholders who are cashed
out
as a result of the transaction will be notified by the Company’s transfer agent
and the exchange agent for purposes of the transaction, American Stock Transfer
& Trust Company. Stockholders holding 200 or more shares of the Company’s
common stock immediately before the transaction will continue to hold the same
number of shares after completion of the transaction and will not receive any
cash payment for their shares.
As
a
result of the transaction, approximately 45,380 shares were cashed out and
the
number of holders of record of the Company’s common stock was reduced to fewer
than 300, which enables the Company to terminate the registration of its common
stock under the Exchange Act. The Company will file to terminate the
registration of its common stock immediately. In connection with the
transaction, the common stock will no longer be eligible for quotation on the
over-the-counter bulletin board maintained by the NASD. The common stock will
only be quoted on the “pink sheets” and stockholders will continue to be able to
trade their shares in the over-the-counter markets or private
transactions.
A
copy of
the press release announcing the proposed transaction is attached hereto as
Exhibit 99.1 and is incorporated herein by reference.
Item 9.01
Financial Statements and Exhibits.
(d) Exhibits
Exhibit
No.
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Document
Description
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99.1
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Press
Release issued on February 7, 2007 announcing completion of
reverse/forward stock split
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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.
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ERGO
SCIENCE
CORPORATION |
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Date:
February 7, 2007 |
By: |
/s/
Charles
E. Finelli |
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Charles
E. Finelli
Chief
Executive Officer
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