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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000950152-08-000250.txt : 20080114
<SEC-HEADER>0000950152-08-000250.hdr.sgml : 20080114
<ACCEPTANCE-DATETIME>20080114170319
ACCESSION NUMBER:		0000950152-08-000250
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080110
ITEM INFORMATION:		Unregistered Sales of Equity Securities
FILED AS OF DATE:		20080114
DATE AS OF CHANGE:		20080114

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ULTRALIFE BATTERIES INC
		CENTRAL INDEX KEY:			0000875657
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690]
		IRS NUMBER:				161387013
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-20852
		FILM NUMBER:		08529102

	BUSINESS ADDRESS:	
		STREET 1:		2000 TECHNOLOGY PARKWAY
		CITY:			NEWARK
		STATE:			NY
		ZIP:			14513
		BUSINESS PHONE:		3153327100

	MAIL ADDRESS:	
		STREET 1:		2000 TECHNOLOGY PARKWAY
		CITY:			NEWARK
		STATE:			NY
		ZIP:			14513
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>l29535ae8vk.htm
<DESCRIPTION>ULTRALIFE BATTERIES, INC.   8-K
<TEXT>
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<TITLE>ULTRALIFE BATTERIES, INC.   8-K</TITLE>
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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>United States<BR>
Securities and Exchange Commission</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>Current Report Pursuant to<BR>
Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>January&nbsp;10,
2008</B><BR>
(Date of Report)
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>ULTRALIFE BATTERIES, INC.</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 0pt">(Exact name of registrant as specified in its charter)
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD align="center" valign="top"><B>Delaware</B><BR>
(State of incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>000-20852</B><BR>
(Commission File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>16-1387013</B><BR>
(IRS Employer Identification No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="47%">&nbsp;</TD>
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    <TD width="47%">&nbsp;</TD>
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<TR valign="bottom">
    <TD align="center" valign="top"><B>2000 Technology Parkway, Newark, New York</B><BR>
(Address of principal executive offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>14513</B><BR>
(Zip Code)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>(315) 332-7100</B><BR>
(Registrant&#146;s telephone number, including area code)
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">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 (see General Instruction A.2. below):
</DIV>
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<TR valign="top">
    <TD align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD>
</TR>
</TABLE>
</DIV>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="1%">&nbsp;</TD>
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    <TD width="96%">&nbsp;</TD>
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<TR valign="top">
    <TD align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD>
</TR>
</TABLE>
</DIV>

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<TR style="font-size: 6pt">
    <TD width="1%">&nbsp;</TD>
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    <TD width="96%">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR>
</TABLE>
</DIV>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="1%">&nbsp;</TD>
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    <TD width="96%">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR>
</TABLE>
</DIV>

<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Item&nbsp;3.02
&nbsp;&nbsp;&nbsp;Unregistered Sales of Equity Securities.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On July&nbsp;3, 2006, Ultralife Batteries, Inc. (the &#147;Company&#148;) issued a subordinated convertible
promissory note in the principal amount of $20&nbsp;million (the &#147;Note&#148;) to McDowell Research, Ltd.
(&#147;McDowell&#148;), in connection with the closing of the Company&#146;s acquisition of substantially all of
the assets of McDowell for an aggregate purchase price of approximately $25&nbsp;million.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Subsequent to that time, the Note was split up proportionately among the six equityholders of
McDowell, and new notes were issued. On October&nbsp;3, 2007, the Company entered into a Settlement
Agreement with the former owners of McDowell and the holders of the split up McDowell Note pursuant
to which the aggregate principal amount of the subordinated convertible promissory notes was
reduced from $20&nbsp;million to $14&nbsp;million. On November&nbsp;16, 2007, the Company prepaid $3.5&nbsp;million of
the outstanding principal amount on the split up notes, which resulted in the Company satisfying
its obligations under two of the notes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Effective January&nbsp;10, 2008, the remaining four noteholders each converted their convertible
subordinated promissory notes into 175,000 shares of the Company&#146;s common stock, par value $.10 per
share. The Company issued a cumulative amount of 700,000 shares of the Company&#146;s common stock to
the four remaining noteholders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company issued the 700,000 shares of its common stock to the four remaining noteholders without
registration under Section&nbsp;5 of the Securities Act of 1933 in reliance on the exemption from
registration contained in Section&nbsp;4(2) of the Securities Act. Section&nbsp;4(2) of the Securities Act
exempts from registration &#147;transactions by an issuer not involving any public offering.&#148; To qualify
for this exemption, the purchasers of the securities must (1)&nbsp;have sufficient knowledge and
experience in finance and business matters to evaluate the risks and merits of the investment or be
able to bear the investment&#146;s economic risk, (2)&nbsp;have access to the type of information normally
provided in a prospectus and (3)&nbsp;agree not to resell or distribute the securities to the public
absent an effective registration statement. In addition, the Registrant cannot use any form of
public solicitation or general advertising in connection with the transaction. The Company believes
that all of the requirements to use the exemption from registration in Section&nbsp;4(2) of the
Securities Act have been satisfied in connection with the original issuance of the subordinated
convertible promissory note and the subsequent issuance of the 700,000 shares of its common stock
upon conversion of the notes held by the four remaining noteholders. The 700,000 shares are freely tradable, as resales of those shares by the four individuals to whom
the shares were issued have been registered pursuant to an effective S-3 registration statement
(Registration No.&nbsp;333-136742).
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.
</DIV>


<DIV align="center">
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: January&nbsp;14, 2008
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>ULTRALIFE BATTERIES, INC.</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Robert W. Fishback</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Robert W. Fishback<BR>
Vice President &#151; Finance and Chief Financial Officer</TD>
    <TD>&nbsp;</TD>
</TR>
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</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>




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