Current Report Filing (8-k)
June 14 2017 - 5:30PM
Edgar (US Regulatory)
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:
June 8, 2017
Function(x)
Inc.
(Exact
name of Registrant as Specified in its Charter)
Delaware
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0-13803
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33-0637631
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(I.R.S. Employer
Identification Number)
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902
Broadway, 11
th
Floor
New
York, New York
(Address
of principal executive offices)
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10010
(Zip
Code)
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(212)
231-0092
(Registrant’s
Telephone Number, including Area Code)
(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 (
see
General Instruction A.2 below):
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).
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[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).
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Item 2.04
Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
On June 1, 2017 Function(x) Inc. (the “Company”)
received notice that the Company was in default under that certain $3.24 million 12% Senior Convertible Note due June 1, 2017 for
non-payment and the applicable grace period of five (5) business days following the due date has lapsed. As a result, the Company
is responsible to pay the Mandatory Default Amount in cash or by conversion into shares of common stock, or any combination thereof,
at Holder’s option. Such amount includes principal and accrued and unpaid interest, default interest (2%) and other costs,
expenses and liquidated damages due in respect of the Note.
Item 8.01
Other Events.
On June 14, 2017, the Company received notice from the Nasdaq Hearings Panel (the “Panel”) granting
the Company’s request for a stay of any action with respect to de-listing of the Company’s common stock on The NASDAQ
Stock Market LLC (“Nasdaq”) pending the outcome of the Company’s hearing before the Panel and any extension granted
by the Panel. The hearing is currently scheduled for June 29, 2017.
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
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FUNCTION(X)
INC.
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By:
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/s/
Robert F.X. Sillerman
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Name:
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Robert F.X. Sillerman
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Title:
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Executive Chairman and Chief Executive Officer
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DATE:
June 14, 2017
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