Current Report Filing (8-k)
February 01 2021 - 11:52AM
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): January 29, 2021
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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400
S. 4th Street, Suite 401-412
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Minneapolis,
MN
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55415
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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
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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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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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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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 1 through 7 and 9 are not applicable and therefore omitted.
ITEM
8.01 OTHER EVENTS.
As
previously reported, on January 26, 2021, Qumu Corporation (the “Company”) entered into a purchase agreement (the
“Purchase Agreement”) for an underwritten public offering with Craig-Hallum Capital Group LLC, as underwriter (the
“Underwriter”). The Purchase Agreement provided for the offer and sale by the Company to the Underwriter of 3,225,000
shares of the Company’s common stock and gave the Underwriter a 30-day option to purchase up to 483,750 additional shares
of the Company’s common stock to cover over-allotments. Pursuant to the Purchase Agreement, the Company agreed to issue
and sell the shares to the Underwriter at a price of $6.31125 per share. The price to the public in the offering was $6.75 per
share. On January 27, 2021, the Underwriter exercised its over-allotment option in full.
On
January 29, 2021, the parties closed the transactions contemplated by the Purchase Agreement and the Company sold 3,708,750 shares
of its common stock to the Underwriter. Net proceeds to the Company from the offering were approximately $23.1 million, after
deducting underwriting discounts and commissions and other estimated offering expenses. The Company intends to use the net
proceeds from the offering for working capital and general corporate purposes.
The
offering was made pursuant to the Company’s Registration Statement on Form S-3 (File No. 333-233470) declared effective
by the Securities and Exchange Commission on September 5, 2019, a Registration Statement on Form S-3 (File No. 333-252388) filed
with the Securities and Exchange Commission on January 25, 2021 pursuant to Rule 462(b) that was effective on filing, and a related
prospectus supplement and accompanying prospectus.
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:
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February
1, 2021
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