Current Report Filing (8-k)
September 03 2021 - 5:19PM
Edgar (US Regulatory)
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2021-09-03
2021-09-03
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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):
September 3, 2021
INSEEGO CORP.
(Exact Name of Registrant as Specified in its
Charter)
Delaware
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001-38358
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81-3377646
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(State or other jurisdiction
of incorporation)
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(Commission
file number)
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(IRS Employer
Identification No.)
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12600 Deerfield Parkway, Suite 100
Alpharetta, Georgia 30004
(Address of principal executive offices) (Zip
Code)
Registrant’s telephone number, including
area code: (858) 812-3400
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:
☐
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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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☐
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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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Common Stock, par value $0.001 per share
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INSG
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NASDAQ Global Select Market
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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
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Entry into a Material Definitive Agreement.
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Series E Preferred Stock Exchanges
On September 3, 2021, Inseego Corp. (the
“Company”) entered into separate privately-negotiated exchange agreements (each, an “Exchange Agreement”) with
Golden Harbor Ltd. and North Sound Trading, L.P. (the “Participating Stockholders”), holders of the Company’s outstanding
Series E Fixed-Rate Cumulative Perpetual Preferred Stock, par value $0.001 per share (the “Series E Preferred Stock”). Pursuant
to each respective Exchange Agreement, each of the Participating Stockholders agreed to exchange Series E Preferred Stock that they currently
hold (representing an aggregate of $13,180,539 base amount of Series E Preferred Stock and accrued dividends) for an aggregate of 1,525,207
shares of Common Stock, par value $0.001 (“Common Stock”), of the Company (the “Private Exchange Transactions”).
The Company did not receive any cash proceeds from the Participating Stockholders in connection with the Private Exchange Transactions.
James B. Avery, a member of the Company’s Board of Directors, is a Vice President of Golden Harbor Ltd
In connection with the Private Exchange Transactions, the Company agreed
to file a registration statement with the Securities and Exchange Commission, promptly following the date that is 90 days after the closing
date of the Private Exchange Transactions, in order to effect a registration for the resale by the Participating Stockholders of the shares
of Common Stock exchanged through the Private Exchange Transactions.
The foregoing descriptions of the Exchange Agreements do not purport
to be complete and are qualified in their entirety by the full text of the form of Exchange Agreement that is filed as Exhibit 1.2 to
this Current Report on Form 8-K and is incorporated herein by reference.
Item 3.02
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Unregistered Sales of Equity Securities.
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The information set forth in Item 1.01 of this Current Report on Form
8-K is incorporated herein by reference into this Item 3.02 in its entirety. The Common Stock will be exchanged with the Participating
Stockholders pursuant to Exchange Agreements dated September 3, 2021 in a transaction exempt from registration under the Securities Act
of 1933, as amended (the “Securities Act”). The Participating Stockholders represented that they were each an “accredited
investor” and were each acquiring the securities for investment only and not with a view towards, or for resale in connection with,
the public sale or distribution thereof. Accordingly, the securities have not been registered under the Securities Act and they may not
be offered or sold in the United States absent registration or an exemption from registration under the Securities Act and any applicable
state securities laws. Neither this Current Report on Form 8-K nor the exhibits attached hereto is an offer to sell or the solicitation
of an offer to buy shares of Common Stock or any other securities of the Company.
Item 9.01
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Financial Statements and Exhibits.
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(d) Exhibits.
SIGNATURES
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.
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INSEEGO CORP.
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Date: September 3, 2021
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By:
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/s/ Kurt Scheuerman
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Name: Kurt Scheuerman
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