Inventergy Global, Inc. (NASDAQ:INVT) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Agreement.
On March 8, 2017, Inventergy Global, Inc. (the
Company) entered into a lock-up agreement (the
Lock-Up Agreement) with the holders (the
Stockholders) of the Companys Series E
Convertible Preferred Stock (the Series E Preferred
Stock) to which the Stockholders agreed not to sell or
otherwise dispose of any shares of common stock of the Company
obtained upon conversion of their shares of Series E Preferred
Stock at a per share price of less than $0.50 per share (subject
to adjustment) until after March 31, 2017. A copy of the Lock-Up
Agreement is attached hereto as Exhibit 10.1 and is incorporated
herein by reference.
Item 5.07. Submission of Matters to a Vote of Security
On March 8, 2017, the Company held a special meeting of
stockholders (the Stockholders Meeting), to
which the Companys stockholders approved the three proposals
listed below. Each of these proposals is described in detail in
the Companys proxy statement, filed with the Securities and
Exchange Commission on January 18, 2017.
The final results for the votes regarding each proposal are set
1. Approve the assignment of the Companys current patent
portfolio, as contemplated under the restructuring agreement,
dated as of December 22, 2016, by and between the Company and the
subsidiaries of the Company, and DBD Credit Funding LLC and CF DB
EZ LL to a newly created special purpose entity.
2. Approve an amendment to Article IV of the Companys certificate
of incorporation, as amended, to (i) effect a reverse stock split
of the Companys authorized and outstanding capital stock, at a
ratio of between one-for-two and one-for-five, with such ratio to
be determined at the sole discretion of the board of directors of
the Company and with such reverse stock split to be effected at
such time and date, if at all, as determined by the board of
directors in its sole discretion and (ii) to reduce the number of
authorized shares of the Companys capital stock in a
3. Approve, for purposes of complying with applicable Nasdaq
Listing Rules, the potential issuance of more than 20% of the
Companys issued and outstanding common stock to the Companys
financing in July 2016.
Item 9.01. Financial Statements and Exhibits.
Form of Lock-Up Agreement, dated March 8, 2017, between the
Company and the holders of Series E Convertible Preferred
About Inventergy Global, Inc. (NASDAQ:INVT)
Inventergy Global, Inc. is an intellectual property (IP) investment and licensing company. The Company offers clients a professional corporate licensing model for IP value creation. The Company’s Technical Lead and associated group works to understand the science and/or technology behind the patents of a particular portfolio, under the review of the Legal Lead and in support of the Business team. This group coordinates the work of third party technology consultants, including technical external resources, such as technical experts, reverse engineering consultancies and other providers, to deliver inputs to the Legal and Business teams. The Legal Lead and Team manage the existing patent asset portfolio from a global perspective and also manage further prosecution of continuing patent cases. The Legal Lead also is responsible for the legal structure and legal documents of any license or negotiated settlement with prospective licensees. Inventergy Global, Inc. (NASDAQ:INVT) Recent Trading Information
Inventergy Global, Inc. (NASDAQ:INVT) closed its last trading session down -0.042 at 0.420 with 119,870 shares trading hands.