ICTV BRANDS INC. (OTCMKTS:ICTV) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
| Entry Into a Material Definitive Contract. |
As previously disclosed, on October 4, 2016, ICTV Brands Inc.
(the Company), entered into a securities purchase agreement (the
Securities Purchase Agreement), with the investors identified
therein (the Investors), to which the Company issued 20,588,243
shares of the Companys common stock, par value $0.001 per share
(the Common Stock), at a price of $0.34 per share, for an
aggregate maximum amount of $7 million. In accordance with the
terms of the Securities Purchase Agreement, the Company provided
certain registration rights under the Securities Act of 1933, as
amended, to the registration rights agreement, dated January 23,
2017, by and between the Company and the Investors (the
Registration Rights Agreement).
Effective February 28, 2017, the Company and certain of the
Investors holding a majority of the Common Stock issued under the
Securities Purchase Agreement (the Required Holders) entered into
Amendment No. 1 to the Registration Rights Agreement (the
Amendment), whereby the Company and the Required Holders agreed
to extend the deadline for filing the initial registration
statement required under the Registration Rights Agreement to
April 14, 2017.
The foregoing is a summary description of the material terms of
the Amendment and is qualified in its entirety by the text of the
Amendment, attached as Exhibit 10.1 to this Current Report on
Form 8-K and incorporated by reference to this Item 1.01.
| Item 3.03 |
Material Modification to Rights of Security Holders. |
The information disclosed in Item 1.01 of this Current Report on
Form 8-K is incorporated by reference into this Item 3.03.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
Unless otherwise indicated, the following exhibits are filed
herewith:
| Exhibit No. | Description of Exhibit | |
| 10.1 |
Amendment No. 1 to the Registration Rights Agreement, dated February 28, 2017, by and among ICTV Brands Inc. and the Investors signatory thereto |
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About ICTV BRANDS INC. (OTCMKTS:ICTV)
ICTV Brands, Inc., formerly International Commercial Television, Inc., sells various health, wellness and beauty products, as well as miscellaneous consumer products through a range of sales channels throughout the United States and internationally. The Company’s segments include direct response television (DRTV) Consumer and International Third Party Distributor. It develops, markets and sells products through a multi-channel distribution strategy, including DRTV, digital marketing campaigns, live home shopping, traditional retail and e-commerce market places, and its international third-party distributor network. It offers primarily health, beauty and wellness products, as well as various consumer products, including DermaWand, a skin care device; DermaVital, a skin care line; the CoralActives brand of acne treatment and skin cleansing products; Derma Brilliance, a skin care resurfacing device; Jidue, a facial massager device, and Good Planet Super Solution, a cleaning agent. ICTV BRANDS INC. (OTCMKTS:ICTV) Recent Trading Information
ICTV BRANDS INC. (OTCMKTS:ICTV) closed its last trading session 00.000 at 0.590 with 22,675 shares trading hands.
