content: 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) July 10, 1997
  
                    IONIC FUEL TECHNOLOGY, INC.
       (Exact name of registrant as specified in its charter)
  
  
                              Delaware
          (State or Other Jurisdiction of Incorporation)
  
      1-13234                             06-1333140
  (Commission File Number)        (I.R.S. Employer Identification No.)
  
  
  300 Delaware Avenue #1704 Wilmington, Delaware 19801-1622
   (Address of principal executive offices)           (Zip Code)
  
  (302) 427-5957
  (Registrant's telephone number, including area code)
  
  
  
  
  
  <PAGE>
  
  
  
                                                                                 
  
  
  
  
  ITEM 5. OTHER EVENTS.
  
           On July 10, 1997, the Registrant concluded a private placement of Units
  (the "Units")  pursuant to Regulation S promulgated  under the Securities Act of
  1933,  as  amended  ("Offering").  Each  Unit  consisted  of  one  share  of the
  Registrant's  Common Stock and one Warrant to purchase one share of common stock
  at an exercise price of $2.95 during a three year period from the closing of the
  offering.  The Units were  offered at $2.25 per Unit and an aggregate of 771,833
  Units were sold for an aggregate of  $1,736,624.25.  American  Equities Overseas
  (UK) Ltd.  acted as Placement  Agent for the private  placement.  The  Placement
  Agent's  compensation  consisting  of (i) cash  compensation  of 7% of the gross
  proceeds of the Offering and (ii) warrants to purchase shares of common stock of
  the  Registrant  equal to 10% of the Units sold on the same terms and conditions
  of the  warrants  forming a part of the Units.  The net proceeds of the Offering
  were added to the Registrant's  working capital to be used for general corporate
  purposes.  A pro-forma  Consolidated  Balance Sheet is filed herewith that gives
  effect to the net proceeds of the Offering.
  
  ITEM 7.  Financial Statements and Exhibits.
  
           (c)  Exhibits
  
                             99. Consolidated Balance Sheet, Proforma and As
  Adjusted, ProForma at March 31, 1997.
  
  
  
  
  
  
  
  
  
  
  
  
  
  
                                                                  
  
  <PAGE>
  
  
  
  
  
  
  
                                                   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.
  
  
                 Ionic Fuel Technology, Inc.
                     (Registrant)
  
  
  
  By: /s/ Douglas F. Johnston, Chairman
  
  
  DATED: July 15, 1997
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metadata_filer: {"company-data": {"conformed-name": "IONIC FUEL TECHNOLOGY INC", "cik": "0000925006", "assigned-sic": "3564", "irs-number": "061333140", "state-of-incorporation": "DE", "fiscal-year-end": "0630"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-13234", "film-number": "97640718"}, "business-address": {"street1": "300 DELAWARE AVE", "street2": "STE 1704", "city": "WILMINGTON", "state": "DE", "zip": "19801-1622", "phone": "3024275957"}, "mail-address": {"street1": "114 FOREST ST", "city": "NEW CANAAN", "state": "CT", "zip": "06840"}}
text: 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) July 10, 1997
  
                    IONIC FUEL TECHNOLOGY, INC.
       (Exact name of registrant as specified in its charter)
  
                              Delaware
          (State or Other Jurisdiction of Incorporation)
  
      1-13234                             06-1333140
  (Commission File Number)        (I.R.S. Employer Identification No.)
  
  300 Delaware Avenue #1704 Wilmington, Delaware 19801-1622
   (Address of principal executive offices)           (Zip Code)
  
  (302) 427-5957
  (Registrant's telephone number, including area code)
  ITEM 5. OTHER EVENTS.
  
           On July 10, 1997, the Registrant concluded a private placement of Units
  (the "Units")  pursuant to Regulation S promulgated  under the Securities Act of
  1933,  as  amended  ("Offering").  Each  Unit  consisted  of  one  share  of the
  Registrant's  Common Stock and one Warrant to purchase one share of common stock
  at an exercise price of $2.95 during a three year period from the closing of the
  offering.  The Units were  offered at $2.25 per Unit and an aggregate of 771,833
  Units were sold for an aggregate of  $1,736,624.25.  American  Equities Overseas
  (UK) Ltd.  acted as Placement  Agent for the private  placement.  The  Placement
  Agent's  compensation  consisting  of (i) cash  compensation  of 7% of the gross
  proceeds of the Offering and (ii) warrants to purchase shares of common stock of
  the  Registrant  equal to 10% of the Units sold on the same terms and conditions
  of the  warrants  forming a part of the Units.  The net proceeds of the Offering
  were added to the Registrant's  working capital to be used for general corporate
  purposes.  A pro-forma  Consolidated  Balance Sheet is filed herewith that gives
  effect to the net proceeds of the Offering.
  
  ITEM 7.  Financial Statements and Exhibits.
  
           (c)  Exhibits
  
                             99. Consolidated Balance Sheet, Proforma and As
  Adjusted, ProForma at March 31, 1997.
  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.
  
                 Ionic Fuel Technology, Inc.
                     (Registrant)
  
  By: /s/ Douglas F. Johnston, Chairman
  
  DATED: July 15, 1997