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) June 2, 2000
DELAWARE 0-29454 77-0420182 --------------------------------------------------------------------------- (State or other Jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) |
Registrant's telephone number, including area code: (805) 987-8741
NOT APPLICABLE
(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS.
At its May 9, 2000 meeting, the Board of Directors of the registrant declared a three-for-two stock split of the registrant's common stock. The stock split was effected in the form of a 50 percent stock dividend payable June 2, 2000 to the stockholders of record May 24, 2000. A copy of the press release relating to the stock split is attached as an exhibit and incorporated herein by reference.
As of May 24, 2000, the record date, 243,823 shares out of the 789,760 shares of the registrant's common stock registered under the registration statement on Form S-3 (Registration No. 333-34174), as filed with the Securities and Exchange Commission on April 6, 2000 (the "Registration Statement"), had not been sold. As a result of the stock split, the aggregate number of shares covered by the Registration Statement is increased by 121,911 shares to a total of 911,671 shares. The Registration Statement covers shares to be sold from time to time by the former shareholders of HC Power, Inc. who received the shares in connection with the registrant's February 29, 2000 acquisition of HC Power.
ITEM 7. EXHIBITS
Exhibit No. Name of Item Page No. ----------- ------------ -------- 99.1 Press Release of Power-One, Inc., dated May 10, |
2000, relating to three-for-two stock split of the company's common stock.
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.
Date: June 19, 2000 POWER-ONE, INC.
By: /s/ Steven J. Goldman
-------------------------------
Steven J. Goldman
Chairman of the Board and Chief
Executive Officer
|
EXHIBIT 99.1
[POWER-ONE, INC. LETTERHEAD]
POWER-ONE DECLARES THREE-FOR-TWO STOCK SPLIT
CAMARILLO, Calif. - May 10, 2000 - The Board of Directors of Power-One Inc. (Nasdaq: PWER) at its meeting, May 9, 2000, declared a three-for-two stock split of the company's common stock.
The stock split will be effected in the form of a 50 percent stock dividend payable June 2, 2000, to stockholders of record May 24, 2000. The dividend will increase the number of outstanding shares to about 36.4 million from about 24.3 million.
Power-One is a leading manufacturer of power conversion products designed primarily to power the Web.
Power-One, with headquarters in Camarillo, has more than 4,000 employees with manufacturing operations in Irvine, Calif.; Boston; Mexico; Dominican Republic; Puerto Rico; Switzerland; Ireland; Slovakia; and China. For information on Power-One and its products, visit the company's Web site at WWW.POWER-ONE.COM.