Form 8-K - Current report
July 18 2024 - 6:02AM
Edgar (US Regulatory)
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2024-07-18
2024-07-18
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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): July 18, 2024 (July 12, 2024)
STARCO
BRANDS, INC.
(Exact
name of Company as specified in its charter)
Nevada |
|
000-54892 |
|
27-1781753 |
(State
or other jurisdiction |
|
(Commission
|
|
(IRS
Employer |
of
Incorporation) |
|
File
Number) |
|
Identification
Number) |
706
N Citrus Ave.
Los
Angeles, CA 90038
(Address
of principal executive offices)
(323)
266-7111
(Registrant’s
Telephone Number)
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Class
A Common Stock |
|
STCB |
|
OTC
Markets Group OTCQB tier |
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)) |
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
5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
Changes
to Starco Brands, Inc.’s, a Nevada corporation, (“Starco” or the “Company”) Board of Directors
(the “Board”)
On
May 14, 2024, the (i) Company, (ii) Ross Sklar (“Sklar”), (iii) GV 2016, L.P. (“GV”),
The Production Board, LLC (“TPB”), and Andreessen Horowitz Fund IV, L.P., AH Parallel Fund III, L.P., and a16z
Seed-III, LLC (formerly known as AH Fund III Seed, L.L.C.) (collectively, “Andreessen” and together with GV
and TPB, the (“Major Stockholders”), entered into an amendment to that certain Voting Agreement, by and between
the Company, Sklar and the stockholders of the Company listed on Schedule A thereto (the “Voting Agreement Amendment”),
filed as Exhibit 4.8 to the Company’s Quarterly Report on Form 10-Q, filed with the Securities and Exchange Commission (the “Commission”)
on May 15, 2024.
Sklar
and the Major Stockholders (together, the “Stockholder Majority”) held, and currently hold, a majority of all
outstanding shares of the Company, and pursuant to the Voting Agreement Amendment, the Stockholder Majority increased the size of the
Company’s Board from three (3) directors to seven (7) directors. In accordance with Section 3.4 of the Amended and Restated Bylaws
of the Company (the “Bylaws”), the Board may fill newly created directorships by majority vote of the then
current directors of the Board appointing persons to fill such directorships.
On
July 12, 2024, in accordance with the Voting Agreement Amendment and the Bylaws, the Board appointed Joe Schimmelpfennig to the Board,
bringing the number of Board members to four (4) directors, with three (3) remaining vacancies to be filled by the Board.
Biography
of New Director
Joe
Schimmelpfennig
Joe
Schimmelpfennig is an experienced investment banking and finance executive with more than 30 years of experience successfully building
and scaling a consumer investment banking team as well as executing transactions. During that time, Mr. Schimmelpfennig has successfully
closed sell-side and buy-side M&A transactions, minority equity and debt capital raises, and has lead managed and co-managed public
offerings for a number of companies in the consumer sector.
Mr.
Schimmelpfennig is currently the Head of Consumer Investment Banking at D.A. Davidson, a middle market investment banking firm. Prior
to joining D.A. Davidson, Mr. Schimmelpfennig was the Head of Investment Banking and the Consumer Group at Wunderlich Securities, which
was majority-owned and managed by Altamont Capital Partners and acquired by B. Riley Financial in 2017.
Mr.
Schimmelpfennig received his bachelor’s degree in Business Administration & Economics from Coe College.
Item
9.01 Financial Statements and Exhibits
(d)
Exhibits.
The
following exhibits are filed with this Current Report on Form 8-K:
Exhibit
Number |
|
Description |
104 |
|
Cover
Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document. |
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, Starco has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
|
STARCO
BRANDS, INC. |
|
|
Dated:
July 18, 2024 |
/s/
Ross Sklar |
|
Ross
Sklar |
|
Chief
Executive Officer |
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