Digital Angel Corp - Current report filing (8-K)

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): September 2, 2008

DIGITAL ANGEL CORPORATION
(Exact name of registrant as specified in its charter)


DELAWARE	0-26020	43-1641533
(State or other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)


490 VILLAUME AVENUE SOUTH ST. PAUL, MINNESOTA		55075
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code: 651-455-1621

1690 South Congress Avenue, Suite 201
Delray Beach, Florida 33445

(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:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 7 – Regulation FD

Item 7.01 Regulation FD Disclosures.

On September 2, 2008, Digital Angel Corporation (the “Company”) announced the receipt of a special dividend of approximately $7.2 million in cash from Verichip Corporation. The Company owns approximately 45% of the common stock of Verichip Corporation. Approximately $5.8 million of the cash received will be applied to debt repayment, with the balance used for working capital. As a result, the Company’s term debt will be reduced to approximately $6.0 million.

On September 2, 2008, the Company issued a press release regarding the special dividend received. A copy of the press release is attached hereto as Exhibit 99.1, which is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. The information in Exhibit 99.1 shall not be incorporated by reference into any filing under the Securities Exchange Act of 1934 or the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such a filing.

Section 9 — Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

(d)

Exhibits.


99.1		Press Release dated September 2, 2008

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.

DIGITAL ANGEL CORPORATION

Date: September 3, 2008

By: / s/ Jason Prescott
Name: Jason Prescott
Title: Vice President — Finance and Treasurer