GLASSBRIDGE ENTERPRISES, INC. (NYSE:GLA) Files An 8-K Entry into a Material Definitive Agreement

GLASSBRIDGE ENTERPRISES, INC. (NYSE:GLA) Files An 8-K Entry into a Material Definitive Agreement

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Item 1.01

Entry into a Material Definitive Agreement.

To the extent required by Item 1.01 of Form 8-K, the information
regarding the Services Agreement (as defined below) contained in
Item 5.02 of this Current Report on Form 8-K is incorporated by
reference herein.

Item 5.02 Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.

Appointment of Chief Operating Officer and Entry into
Services Agreement

The Board of Directors (the Board) of GlassBridge Enterprises,
Inc. (the Company, we or us) appointed Daniel A. Strauss to serve
as the Chief Operating Officer of the Company, effective March 2,

Mr. Strauss, age 32, has been a Portfolio Manager at Clinton
Group, Inc. (Clinton) since 2010 and will continue in such role
following his appointment. Mr. Strauss has over ten years of
experience in corporate finance as a portfolio manager and
investment analyst in private and public equity through which he
has developed a deep understanding of corporate finance and
strategic planning activities. At Clinton, Mr. Strauss is
responsible for evaluating and executing private equity
transactions across a range of industries. Post-investment, Mr.
Strauss is responsible for the ongoing management and oversight
of Clintons portfolio investments. From 2008 to 2010, he worked
for Angelo, Gordon Co. as a member of the firms private equity
and special situations area. Mr. Strauss was previously with
Houlihan Lokey, where he focused on mergers and acquisitions from
2006 to 2008. Mr. Strauss has served on the boards of directors
of Pacific Mercantile Bancorp (NASDAQ: PMBC) from August 2011
until December 2015 and Community Financial Shares, Inc. (OTC:
CFIS) from December 2012 until its sale to Wintrust Financial
Corporation in July 2015.

Mr. Strauss will serve as our Chief Operating Officer to the
terms of a Services Agreement we entered into with Clinton on
March 2, 2017 (the Services Agreement). Clinton is an investment
adviser registered with the U.S. Securities and Exchange
Commission (the Commission) and a stockholder of the Company. The
Services Agreement provides that Clinton will make available one
of its employees to serve as Chief Operating Officer of the
Company, and any subsidiary of the Company we may designate from
time to time, as well as provide to GlassBridge Asset Management,
LLC (GBAM), our investment adviser subsidiary, certain services
related to the transaction described in the Press Release (as
defined below). to the terms of the Services Agreement, we may
request that Clinton designate a mutually agreeable replacement
employee to serve as Chief Operating Officer or terminate
Clintons provision of an employee to us for such role. Under the
Services Agreement, we have agreed to pay Clinton $125,000 for an
initial term concluding on May 31, 2017, which term will
automatically renew unless terminated for successive three-month
terms at a rate of $125,000 per renewal term. If the Services
Agreement is terminated prior to the conclusion of a term, we
will be reimbursed for the portion of the prepaid fee
attributable to the unused portion of such term. Clinton will
continue to pay Mr. Strausss compensation and benefits and we
have agreed to pay or reimburse Mr. Strauss for his reasonable
expenses. to the terms of the Services Agreement, we have also
agreed to indemnify Mr. Strauss, Clinton, any substitute Chief
Operating Officer and certain of their affiliates for certain

There are no family relationships between Mr. Strauss and any of
the Companys directors or executive officers, or any person
nominated or chosen by the Company to become a director or
executive officer. Except for the Services Agreement, there are
no (i) arrangements or understandings between Mr. Strauss and any
other person to which Mr. Strauss was appointed as Chief
Operating Officer or (ii) transactions requiring disclosure under
Item 404(a) of Regulation S-K in which Mr. Strauss has an

The foregoing description of the Services Agreement is a summary
of the material terms thereof and does not purport to be complete
and is qualified in its entirety by reference to the Services
Agreement, a copy of which will be filed with our Form 10-Q for
the quarter ended March 31, 2017.

Item 7.01 Regulation FD Disclosure.

On March 6, 2017, a press release was issued announcing GBAMs
collaboration in, and provision of institutional and operational
support to, Arrive, a start-up platform established by Roc Nation
(the Press Release). We have furnished herewith as Exhibit 99.1 a
copy of the Press Release.

The information in this Item 7.01 and Exhibit 99.1 attached
hereto shall not be deemed filed for purposes of Section 18 of
the Securities Exchange Act of 1934, as amended (the Exchange
Act), or otherwise subject to the liabilities of that section,
nor shall it be deemed incorporated by reference in any filing
under the Securities Act of 1933, as amended, or the Exchange
Act, except as expressly set forth by specific reference in such

Forward-Looking Statements

The Press Release may include forward looking statements within
the meaning of the safe harbor provisions of the United States
Private Securities Litigation Reform Act of 1995, including, but
not limited to, statements with respect to the future activities
or success of Arrive. Words such as expects, believes,
anticipates, intends, estimates, seeks and variations and similar
words and expressions are intended to identify such
forward-looking statements. Forward-looking statements are not
historical facts, and involve risks and uncertainties that could
cause actual results to differ materially from those expected and
projected. Such forward-looking statements are based on current
expectations that are subject to risks and uncertainties. A
number of factors could cause actual events, performance or
results to differ materially from the events, performance and
results discussed in the forward-looking statements. These
factors include, but are not limited to, the ability of Arrive to
succeed in the proposed activities described in the Press Release
and such other risks and uncertainties indicated from time to
time in filings with the Commission by the Company. Readers are
cautioned not to place undue reliance upon any forward-looking
statements, which speak only as of the date made, and we
undertake no obligation to update or revise any forward-looking
statements whether as a result of new information, future events
or otherwise, except as required by law.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

We incorporate by reference herein the Exhibit Index following
the page to this Current Report on Form 8-K.


GlassBridge Enterprises, Inc., formerly Imation Corp., is a holding company. The Company is a data storage and data security company. It operates through Nexsan segment. The Nexsan segment operates as its own product line. Its storage systems portfolio ranges from storage products to unified hybrid storage solutions for small and medium commercial businesses, enterprise and government customers. It consists of Imation Nexsan and Connected Data products. Its Nexsan portfolio features solid-state optimized unified hybrid storage systems, secure automated archive solutions and high-density enterprise storage arrays. Nexsan systems are delivered through a network of cloud service providers, value-added resellers (VARs) and solutions integrators. It offers global customers four main solution sets: the NST hybrid storage line, the Nexsan E-Series disk arrays, the Assureon line and the Transporter line. Its subsidiaries include GlassBridge Asset Management, LLC and Nexsan Corporation.


GLASSBRIDGE ENTERPRISES, INC. (NYSE:GLA) closed its last trading session 00.00 at 7.03 with 36,323 shares trading hands.

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