SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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 Event Reported):
January 15, 2002
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TELIGENT, INC.
(Exact Name of Registrant as Specified in its Charter)
Delaware
(State or other jurisdiction of incorporation or organization)
000-23387 54-1866562
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(Commission File Number) (IRS Employer Identification No.)
460 Herndon Parkway
Suite 100
Herndon, Virginia 20170
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code (703) 326-4400
Item 5. Other Events
On May 21, 2001, Teligent, Inc., a Delaware corporation (the "Company"), and all
of its domestic subsidiaries, filed voluntary petitions for protection under
Chapter 11 of the United States Bankruptcy Code (the "Bankruptcy Code") in the
United States Bankruptcy Court for the Southern District of New York (the
"Bankruptcy Court").
Pursuant to Bankruptcy Rule 2015 and the United States Trustee's Operating
Guidelines and Reporting Requirements for Chapter 11 cases, the Company is
obligated to file monthly operating reports with the Bankruptcy Court. The
Company's unconsolidated, unaudited monthly operating report for the period from
January 1, 2002 to January 31, 2002 is filed as Exhibit 99.1 hereto and the
Company's unconsolidated, unaudited monthly operating report for the period from
December 1, 2001 to December 31, 2001 (collectively the "Operating Reports") is
filed as Exhibit 99.2 hereto and each are incorporated by reference herein.
The Company cautions readers not to place undue reliance upon the information
contained in the Operating Reports since they contain unaudited information, and
are in a format prescribed by the applicable bankruptcy laws. There can be no
assurance that the Operating Reports are complete. The Operating Reports also
contain information for periods that may be shorter or otherwise different from
those contained in the Company's reports pursuant to the Securities Exchange Act
of 1934, as amended (the "Exchange Act"). Moreover, the Operating Reports and
other communications from the Company may include forward-looking statements
subject to various assumptions regarding the Company's operating performance
that may not be realized and are subject to significant business, economic and
competitive uncertainties and contingencies many of which are beyond the
Company's control. Consequently such matters should not be regarded as a
representation or warranty by the Company that such matters will be realized or
are indicative of the Company's financial condition or operating results for
future periods. Actual results for such periods may differ materially from the
information contained in the Operating Reports and the Company undertakes no
obligation to update or revise the Operating Reports.
The Company's working capital for the operation of its business is derived from
cash from operations and borrowings from the lenders under the Credit Agreement,
dated as of July 2, 1998 (the "Prepetition Lenders"), under the terms and
conditions of the Final Order (I) Authorizing the Use of Lenders' Cash
Collateral and (II) Granting Adequate Protection Pursuant to 11 U.S.C. Sections
361 and 363 (the "Cash Collateral Order"). The Cash Collateral Order authorizes
the Company to utilize cash pursuant to periodic budgets prepared by the Company
and approved by the Prepetition Lenders in their sole discretion. The current
budget expires on or about March 1, 2002 and a new budget will need to be
approved by the Prepetition Lenders in accordance with the terms of the Cash
Collateral Order. The Cash Collateral Order was originally scheduled to expire
on September 15, 2001, but the parties entered into a stipulation to extend the
Cash Collateral Order to November 15, 2001 or beyond based on the mutual
agreement of the parties. The Cash Collateral Order expires at the end of the
current budget on March 1, 2002 unless a new budget is approved. If the
budget expires without a new budget being approved by the Prepetition Lenders
the Company would lack sufficient liquidity to operate its business as a going
concern.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits
99.1 Unconsolidated, Unaudited Monthly Operating Report for the period from
to January 1, 2002 to January 31, 2002.
99.2 Unconsolidated, Unaudited Monthly Operating Report for the period from
to December 1, 2001 to December 31, 2001.
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.
TELIGENT, INC.
Dated: February 22, 2002 By: /s/ Stuart H. Kupinsky
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Name: Stuart H. Kupinsky
Title: Senior Vice President,
General Counsel and
Assistant Secretary
EXHIBIT INDEX
Exhibit Number Description
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99.1 Unconsolidated, Unaudited Monthly Operating Report for
the period from January 1, 2002 to January 31, 2002.
99.2 Unconsolidated, Unaudited Monthly Operating Report for
the period from to December 1, 2001 to December 31, 2001.