Current Report Filing (8-k)
November 15 2019 - 6:06AM
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): November 12, 2019
Qumu
Corporation
(Exact
name of Registrant as Specified in its Charter)
Minnesota
(State
Or Other Jurisdiction Of Incorporation)
000-20728
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41-1577970
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(Commission
File Number)
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(I.R.S.
Employer Identification No.)
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510
1st Avenue North, Suite 305
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Minneapolis,
MN
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55403
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(Address
Of Principal Executive Offices)
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(Zip
Code)
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(612)
638-9100
Registrant’s
Telephone Number, Including Area Code
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
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Trading
Symbol
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Name
of each exchange on which registered
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Common
stock, par value $0.01
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QUMU
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The
NASDAQ Stock Market LLC
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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:
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[ ]
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Written
communications pursuant to Rule 425 under the Securities Act
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[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act
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[ ]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act
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[ ]
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act
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Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934. [ ]
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Items
under Sections 2 through 7 are not applicable and are therefore omitted.
ITEM
1.02
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TERMINATION OF A MATERIAL DEFINITIVE
AGREEMENT.
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On
November 12, 2019, Qumu Corporation (the “Company”) repaid in full its obligations under that certain term loan credit
agreement dated January 12, 2018 with ESW Holdings, Inc., as administrative agent and lender (the “Credit Agreement”).
The Credit Agreement, and a related Guaranty and Collateral Agreement dated January 12, 2018 among the Company, certain of its
subsidiaries and ESW Holdings, Inc., were each terminated in accordance with their terms on November 12, 2019. In connection with
the termination of the Credit Agreement and Guaranty and Collateral Agreement, ESW Holdings, Inc. released its security interest
in the Company’s properties, rights and assets (including its equity interests in its subsidiaries).
To
fund the repayment of the Credit Agreement obligations, the Company used approximately $4.8 million of the approximately $8.2
million in net proceeds, after deducting underwriting discounts and commissions and other estimated offering expenses payable
by the Company, from the Company’s underwritten public offering of 3,652,000 shares of its common stock that closed on November
12, 2019.
On
November 13, 2019, the Company issued a press release announcing the November 12, 2019 closing of the underwritten
public offering and the Company’s repayment of its obligations under the Credit Agreement,
a copy of which is attached as Exhibits 99.1 hereto and incorporated herein by reference.
ITEM
9.01
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FINANCIAL STATEMENTS AND EXHIBITS.
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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, thereunto duly authorized.
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QUMU
CORPORATION
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By:
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/s/
David G. Ristow
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David
G. Ristow
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Chief
Financial Officer
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Date:
November 13, 2019
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