Current Report Filing (8-k)
July 19 2019 - 6:03AM
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):
July
17, 2019
BLACK RIDGE ACQUISITION CORP.
(Exact Name of Registrant as Specified in
Charter)
Delaware
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001-38226
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82-1659427
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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 No.)
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c/o Black Ridge Oil & Gas, Inc.
110 North 5
th
Street, Suite
410
Minneapolis, MN 55403
(Address of Principal Executive Offices)
(Zip Code)
(952) 426-1241
(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):
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[_]
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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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[_]
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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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[_]
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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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Securities registered pursuant to Section
12(b) of the Act:
Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Units
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BRACU
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The NASDAQ Stock Market LLC
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Common Stock
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BRAC
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The NASDAQ Stock Market LLC
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Rights
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BRACR
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The NASDAQ Stock Market LLC
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Warrants
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BRACW
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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 (§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 July 17, 2019, Black
Ridge Acquisition Corp. (“BRAC”) and Black Ridge Oil & Gas, Inc., BRAC’s sponsor (“BROG”), entered
into share purchase agreements (“Purchase Agreements”) with Lyle Berman, a director of BRAC and BROG, and Morris Goldfarb,
a stockholder of BROG (collectively, the “Purchasers”).
Pursuant to the Purchase
Agreements, the Purchasers have agreed to purchase an aggregate of $5,000,000 of shares of BRAC common stock ($3,000,000 by Mr.
Berman and $2,000,000 by Mr. Goldfarb) in open market or privately negotiated transactions commencing two days after the filing
of this Current Report on Form 8-K and ending on the close of business on July 26, 2019 at a price not to exceed the per share
amount held in BRAC’s trust account (which is approximately $10.30 per share) (the “Maximum Price”). The Purchasers
have agreed not to convert any shares purchased in the open market or in privately negotiated transactions at the BRAC meeting
of stockholders called to approve BRAC’s previously announced proposed business combination with Allied Esports and the World
Poker Tour (“Business Combination”). If the Purchasers are unable to purchase the full $5,000,000 of shares in the
open market or in privately negotiated transactions, BRAC will sell to them newly issued shares upon closing of the Business Combination
at the Maximum Price equal to the difference between $5,000,000 and the dollar amount of shares purchased by them in the open market
or in privately negotiated transactions.
Pursuant to the Purchase
Agreements, at the closing of Business Combination, BRAC will issue to the Purchasers 1.5 shares of BRAC common stock for every
10 shares purchased by them under the Purchase Agreements. Additionally, BROG will transfer to them an aggregate of 200,000 shares
of BRAC common stock owned by BROG. Pursuant to the Purchase Agreements, BRAC is required to file a registration statement with
the SEC as promptly as practicable following closing of the Business Combination to register the resale of any securities purchased
by the Purchasers that are not already registered and cause such registration statement to become effective as soon as possible.
The foregoing summary
of the Purchase Agreements is qualified in its entirety by reference to such agreements, the form of which is attached as an exhibit
hereto and are 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: July 18, 2019
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BLACK RIDGE ACQUISITION CORP.
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By:
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/s/ Ken DeCubellis
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Name: Ken DeCubellis
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Title: Chairman and Chief Executive Officer
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