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) March 31, 2003
DIGITAL POWER CORPORATION
(Exact name of registrant as specified in its charter)
California 1-12711 94-1721931
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(State or other (Commission File No.) (I.R.S. Employer
jurisdiction Identification No.)
of incorporation)
41920 Christy Street, Fremont, California 94538-3158
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(Address of principal executive offices)
(510) 657-2635
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(Registrant's telephone number, including area code)
Item 5. Other Events and Regulation FD Disclosure
On March 31, 2003, Digital Power Corporation, a California corporation (the
"Company") executed a securities purchase agreement with Telkoor Telecom Ltd., a
limited liability company organized under the laws of Israel ("Telkoor"). Under
the securities purchase agreement, Telkoor acquired 900,000 shares of common
stock for the aggregate purchase price of $600,000. The per share purchase price
of approximately $0.66 per share represents a premium of 21% over the closing
price of $0.55 for a share of common stock on March 31, 2003. As a part of the
transaction, Telkoor's 900,000 share warrant was cancelled. The warrant would
have expired on May 23, 2003.
Telkoor is an Israeli corporation, primarily engaged in developing,
marketing and selling power supplies and power systems for the telecommunication
equipment industry. After the purchase, Telkoor owns 2,150,000 shares of common
stock and warrants to purchase 1,000,000 shares of common stock.
Item 9. Regulation FD Disclosure
Exhibit No. Exhibit Description
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10 Securities Purchase Agreement [Form]
99 Press release announcing agreement with Telkoor
Telecom Ltd.
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.
DIGITAL POWER CORPORATION,
a California Corporation
Dated: April 1, 2003 /s/Haim Yatim
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Haim Yatim,
Chief Financial Officer