form8-k102408.htm
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): October
24, 2008
ClearOne
Communications, Inc.
(Exact
Name of Registrant as Specified in Its Charter)
Utah
(State or
Other Jurisdiction of Incorporation)
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000-17219
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87-0398877
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(Commission
File Number)
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(I.R.S.
employer
identification
number)
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5225 Wiley Post Way, Suite
500,
Salt Lake City, Utah
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84116
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(Address
of principal executive offices)
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(Zip
Code)
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(801)
975-7200
(Registrant’s
Telephone Number, Including Area Code)
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:
[ ] Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
30.425)
[ ] Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
40.14a-12)
[ ] Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
[ ] Pre-commencement
communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
8.01 Other Events.
On
October 24, 2008 the Company accepted offers to repurchase its auction rate
securities (ARSs), at par value, from the two investment banks that sold and
continue to hold its ARSs. The Company believes it and its ARSs are eligible to
participate in the offers and expects to sell them at par value in exchange for
cash between November 2008 and January 2009. The total par value of the
Company’s ARSs is approximately $12.2 million.
The two
investment banks who have made the repurchase offers, UBS and Morgan Stanley,
have each represented they have the financial resources to perform their
obligations under the offers. However, there can be no assurance that either one
or both investment banks can maintain the financial resources to satisfy their
obligations under the repurchase offers.
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.
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CLEARONE
COMMUNICATIONS, INC.
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Date: October
27, 2008
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By:
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/s/ Greg LeClaire
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Greg
LeClaire
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Chief
Financial Officer
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