<SEC-DOCUMENT>0001534424-14-000144.txt : 20140501
<SEC-HEADER>0001534424-14-000144.hdr.sgml : 20140501
<ACCEPTANCE-DATETIME>20140501160559
ACCESSION NUMBER:		0001534424-14-000144
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20140430
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20140501
DATE AS OF CHANGE:		20140501

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PRO DEX INC
		CENTRAL INDEX KEY:			0000788920
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				841261240
		STATE OF INCORPORATION:			CO
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-14942
		FILM NUMBER:		14805014

	BUSINESS ADDRESS:	
		STREET 1:		2361 MCGAW AVENUE
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92614
		BUSINESS PHONE:		949-769-3200

	MAIL ADDRESS:	
		STREET 1:		2361 MCGAW AVENUE
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92614
</SEC-HEADER>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">Pursuant to Section&#160;13 OR 15(d) of the</font></div>

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(Date of earliest event reported)</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">April 30, 2014</font><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt; text-align: left">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):</P>

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    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </FONT></TD></TR>
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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left">&nbsp;</P>

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    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </FONT></TD></TR>
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    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </FONT></TD></TR>
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    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </FONT></TD></TR>
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<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><B>Item 8.01&nbsp;&nbsp;&nbsp;&nbsp;Other Events</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0.5in"><B>Press Release Announcing
Completion of Rights Offering</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On May 1, 2014, Pro-Dex,
Inc. (the &ldquo;Company&rdquo;) issued a press release to publicly announce the final results of its previously announced rights
offering (the &ldquo;Rights Offering&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Rights Offering was
made through the Company&rsquo;s distribution to its existing shareholders as of March 20, 2014, the Record Date, of non-transferable
subscription rights to purchase their pro rata portion of newly issued shares of common stock at a subscription price of $1.90
per share. The subscription period commenced on March 24, 2014 and expired on April 25, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company raised $1.65
million, before expenses, through shareholder subscriptions for 868,732 shares of common stock, representing a 59% participation
rate. Of the total amount of shares to be issued, an aggregate of 473,420 shares will be issued to AO Partners I, LP (&ldquo;AO
Partners&rdquo;) and Farnam Street Partners, L.P. (&ldquo;Farnam Street Partners&rdquo;), the Company&rsquo;s two largest shareholders,
who each exercised its full pro-rata allotment of rights in the offering. AO Partners, LLC is the General Partner of AO Partners,
and Nicholas J. Swenson, a director of the Company, is the Managing Member of AO Partners. Raymond E. Cabillot, also a director
of the Company, is the CEO of Farnam Street Partners. The remaining 395,312 shares will be issued to 178 other shareholders that
participated in the rights offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The shares of the Company&rsquo;s
common stock subscribed for in the rights offering will be issued to shareholders as promptly as practicable. The rights offering
was made pursuant to a Registration Statement on Form S-3 that was filed with the Securities and Exchange Commission (&ldquo;SEC&rdquo;)
and became effective on March 21, 2014, and by means of the prospectus that was filed with the SEC on March 24, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">A copy of the press release
is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: left"><B>Item 9.01&nbsp;&nbsp;&nbsp;&nbsp;Financial
Statements and Exhibits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: left">(d) Exhibits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>


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    <TD STYLE="width: 12%"><U>Exhibit No.</U></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 88%"><U>Description</U></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>Exhibit 99.1</TD>
    <TD>&nbsp;</TD>
    <TD>Press Release dated May 1, 2014.</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: left; text-indent: 24.5pt">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Date: May 1, 2014</font></font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Pro-Dex, Inc.</font></div>
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<td valign="top" width="35%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
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<td valign="top" width="3%" style="BORDER-BOTTOM: #ffffff solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">By: </font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">/s/ Harold A. Hurwitz</font></font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Chief Executive Officer</font></font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
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<TEXT>
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<div style="TEXT-ALIGN: right">
<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Exhibit 99.1</font></div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160; </font></div>

<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><img src="prodex.jpg" alt="(Pro-dex logo)"></div>

<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">&#160;</div>

<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Contact:&#160;&#160;Harold A. Hurwitz, Chief Executive Officer</font></font></div>

<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font  style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 360pt; FONT-SIZE: 10pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;(949) 769-3200</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">For Immediate Release</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>


<P STYLE="font: bold 13pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 12pt 0 3pt; text-align: center">PRO-DEX, INC. ANNOUNCES COMPLETION
OF RIGHTS OFFERING</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>IRVINE, CA,</B> May 1, 2014 - PRO-DEX, INC. (NasdaqCM: PDEX) today announced that it has completed
its previously announced common stock rights offering. The Company raised $1.65 million, before expenses, through shareholder subscriptions
for 868,732 shares of common stock, representing a 59% participation rate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Of the total amount of
shares to be issued, an aggregate of 473,420 shares will be issued to AO Partners I, LP (&ldquo;AO Partners&rdquo;) and Farnam
Street Partners, L.P. (&ldquo;Farnam Street Partners&rdquo;), the Company&rsquo;s two largest shareholders, who each exercised
its full pro-rata allotment of rights in the offering. AO Partners, LLC is the General Partner of AO Partners, and Nicholas J.
Swenson, a director of the Company, is the Managing Member of AO Partners. Raymond E. Cabillot, also a director of the Company,
is the CEO of Farnam Street Partners. The remaining 395,312 shares will be issued to 178 other shareholders that participated in
the rights offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;We appreciate the
participation of our largest shareholders, and are particularly pleased that nearly half of the subscriptions received in the rights
offering were from a remaining broad base of shareholders, the support from whom we value,&rdquo; said Harold A. Hurwitz, the Company&rsquo;s
CEO.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The shares of the Company&rsquo;s
common stock subscribed for in the rights offering will be issued to shareholders as promptly as practicable. The rights offering
was made pursuant to a Registration Statement on Form S-3 that was filed with the Securities and Exchange Commission (&ldquo;SEC&rdquo;)
and became effective on March 21, 2014, and by means of the prospectus that was filed with the SEC on March 24, 2014. Questions
regarding the rights offering may be directed to the subscription agent, Broadridge Corporate Issuer Solutions, Inc., at (855)
793-5068.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The purpose of the rights offering was to raise equity capital in a cost-effective manner that
provided all of the Company&rsquo;s shareholders the opportunity to participate on a pro rata basis. The Company intends to use
the net proceeds from the rights offering to pursue strategic opportunities that may present themselves from time to time or,
if not used to pursue strategic opportunities, for working capital and general corporate purposes, including to fund ongoing
research and development and product initiatives.  Also, to the extent net proceeds of the rights offering are not deployed,
some of the funds may be invested in accordance with the terms of the Company&rsquo;s previously disclosed Surplus Capital Investment
Policy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Under the terms of the
rights offering, the Company had the right to reduce subscriptions in order to preserve certain of the Company&rsquo;s tax attributes,
such as the utilization of net operating loss carry forwards. Similarly, the Company had the right to reduce shares purchased
pursuant to a standby commitment from AO Partners, LLC and Farnam Street Capital, Inc. (collectively with their permitted
designees the &ldquo;Standby Purchasers&rdquo;). The Standby Purchasers had agreed to purchase any and all shares of common stock that
were not subscribed for by shareholders in connection with the rights offering. On the basis of the Company&rsquo;s analysis of
tax attributes, the Company did not reduce the subscriptions of any shareholder in the rights offering, but did reduce to zero
the number of shares the Standby Purchasers could have otherwise purchased pursuant to the standby commitment. As a result, no
shares will be issued to AO Partners, LLC or Farnam Street Capital, Inc. pursuant to their standby purchase commitment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: 0.05pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>About Pro-Dex, Inc.:</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Pro-Dex, Inc., with operations
in California and Oregon, specializes in the design, development and manufacture of powered rotary drive surgical and dental instruments
used primarily in the orthopedic, spine, maxocranial facial and dental markets. Its OMS division designs and manufactures embedded
motion control systems serving the medical, dental, semi-conductor and scientific research markets. Pro-Dex&rsquo;s products are found
in hospitals, dental offices, medical engineering labs, scientific research facilities and high tech manufacturing operations
around the world. For more information, visit the Company&rsquo;s website at <U>www.pro-dex.com</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Statements herein concerning
the Company&rsquo;s plans, growth and strategies may include &lsquo;forward-looking statements&rsquo; within the context of the federal securities
laws. Statements regarding the Company&rsquo;s future events, developments and future performance, as well as management&rsquo;s expectations,
beliefs, plans, estimates or projections relating to the future, are forward-looking statements within the meaning of these laws.
The Company&rsquo;s actual results may differ materially from those suggested as a result of various factors. Interested parties should
refer to the disclosure concerning the operational and business concerns of the Company set forth in the Company&rsquo;s filings with
the Securities and Exchange Commission.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>



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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
