UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
March 27, 2006
Date of Report (Date of earliest event reported)
iPARTY CORP.
(Exact name of registrant as specified in its charter)
Delaware 000-25507 76-0547750
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
270 Bridge Street, Suite 301, Dedham, Massachusetts 02026
(Address of principal executive offices) (Zip Code)
(781) 329-3952
(Registrant's telephone number, including area code)
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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):
|_| Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors or Principal Officers; Election of
Directors; Appointment of Principal Officers
On March 27, 2006, iParty Corp. issued a press release announcing that Mr.
Robert W. Jevon, Jr. had rejoined its Board of Directors effective as of that
date. Mr. Jevon was elected by iParty's Board of Directors to fill a vacancy
resulting from the previously disclosed resignation of a director on March 13,
2006. Mr. Jevon will hold office for the unexpired term of his predecessor until
the next meeting of shareholders at which time it is expected that he will be
the nominee for election to the Board of Directors by holders of iParty's Series
C convertible preferred stock.
Mr. Jevon had previously been a director of iParty Corp. from February 2000
to June 2001. Since 2000, Mr. Jevon has been a Partner of Boston Millennia
Partners, LP, a venture capital firm, which, together with its affiliates, owns
all of the shares of iParty's Series C convertible preferred stock. The holders
of iParty's Series C preferred stock are entitled to elect one member of
iParty's Board of Directors. Boston Millennia had not exercised this contractual
right since June 2001 when Mr. Jevon left the Board, but had informed iParty in
February 2006 that it intended to do so this year.
The press release is attached hereto as Exhibit 99.1 and is incorporated
herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
99.1 Press release of iParty Corp. dated March 27, 2006.
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.
iPARTY CORP.
By: /s/ SAL PERISANO
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Sal Perisano
Chairman of the Board and
Chief Executive Officer
Dated: March 27, 2006
EXHIBIT INDEX
EXHIBIT
NUMBER DESCRIPTION
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99.1 Press release of iParty Corp. dated March 27, 2006.