Current Report Filing (8-k)
February 19 2021 - 06:01AM
Edgar (US Regulatory)
0001708341
false
0001708341
2021-02-11
2021-02-11
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
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): February 11, 2021
ALLIED
ESPORTS ENTERTAINMENT, INC.
(Exact
Name of Registrant as Specified in Charter)
Delaware
|
|
001-38266
|
|
82-1659427
|
(State
or other jurisdiction
of
incorporation)
|
|
(Commission
File
Number)
|
|
(I.R.S.
Employer
Identification
No.)
|
17877
Von Karman Avenue, Suite 300
Irvine,
California, 92614
(Address
of Principal Executive Offices) (Zip Code)
(949)
265-2600
(Registrant’s
Telephone Number, Including Area Code)
Not
Applicable
(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):
|
☐
|
Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
|
☐
|
Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
|
☐
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
|
☐
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e 4(c))
|
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
|
Trading
Symbol(s)
|
Name
of each exchange on which registered
|
Common Stock
|
AESE
|
The NASDAQ Stock Market LLC
|
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 (§240.12b-2 of this chapter).
Emerging
growth company ☒
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.
|
Item 1.01
|
Entry
into a Material Definitive Agreement.
|
On
February 11, 2021, WPT Enterprises, Inc. (“WPTE”), a wholly-owned subsidiary of Allied Esports Entertainment,
Inc. (“AESE”), entered into an agreement (the “Amendment”) with Fox Sports Net, LLC (as
successor-in-interest to National Sports Programming) (“FSN”) to amend certain provisions of the Program Production
and Televising Agreement, dated as of July 25, 2008 (as amended from time to time, the “ClubWPT Agreement”)
and the Network Distribution Agreement, dated as of May 24, 2016 (as amended from time to time, the “Network Agreement”,
and together with the ClubWPT Agreement, the “Agreements”). The Amendment makes certain amendments to the Agreements,
including, but not limited to:
|
(i)
|
Allowing
WPTE to use $257,500 owed from WPTE to FSN in connection with FSN’s revenue share
arrangement with WPTE’s ClubWPT online subscription product (“ClubWPT”),
for the on- or off-line marketing and promotion of ClubWPT;
|
|
(ii)
|
Clarifying
that the final season of the WPT television show (the “Show”) to be
aired on FSN under the current Network Agreement would be Season 18, to be produced between
February 1, 2021 and December 31, 2021;
|
|
(iii)
|
Lowering
FSN’s net revenue share percentage in ClubWPT from 45% to 35% for Season 18 of
the Show; and
|
|
(iv)
|
Adjusting
FSN’s exclusive bargaining window with regard to the rights to air new seasons
of the Show so that it commences on March 15, 2021 and ends on May 15, 2021.
|
The
remaining terms of the Agreements, previously reported in the Company’s Current Report on Form 8-K filed with the SEC on
August 15, 2019, remain in effect.
The
foregoing description of the Amendment is qualified in its entirety by reference thereto, which is filed as Exhibit 10.1 to this
Current Report, and is incorporated herein by reference.
|
Item 9.01
|
Financial Statements and Exhibits.
|
(d)
Exhibits.
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 hereunto duly authorized.
Dated:
February 18, 2021
|
ALLIED ESPORTS ENTERTAINMENT,
INC.
|
|
|
|
By:
|
/s/
Tony Hung
|
|
|
Tony
Hung, Chief Financial Officer
|
EXHIBIT
INDEX
Allied Esports Entertain... (NASDAQ:AESE)
Historical Stock Chart
From Feb 2024 to Mar 2024
Allied Esports Entertain... (NASDAQ:AESE)
Historical Stock Chart
From Mar 2023 to Mar 2024