Inventergy Global, Inc. (NASDAQ:INVT) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01.
| Entry into a Material Agreement. |
As previously reported on a Current Report on Form 8-K filed on
December 29, 2016, on December 22, 2016, Inventergy Global, Inc.
(the Parent), Inventergy Inc., a wholly-owned
subsidiary of Parent (the Owner), and the other subsidiaries of
the Parent (together with the Parent and Owner, the
Company) entered into a Restructuring Agreement
(the Restructuring Agreement) with certain
entities owned by funds managed by Fortress Investment Group, LLC
(Fortress) to amend that certain Amended and
Restated Revenue Sharing and Note Purchase Agreement, which was
originally entered into by the Parent, Owner and Fortress on
October 1, 2014.
On March 31, 2017, the parties entered into the First Amendment
to the Restructuring Agreement (the Amendment),
which provides that the Company has until April 30, 2017 to
obtain the required approvals to assign the patents covered by
the Restructuring Agreement to a newly-created special purpose
entity, INVT SPE LLC, a Delaware limited liability company
(INVT SPE), and for INVT SPE to be in full force
and effect. The Amendment also (i) defers any amortization
payments on the notes held by Fortress until May 1, 2017, and
(ii) suspends the Companys minimum liquidity covenant until May
1, 2017, each to permit time for the Company to obtain the
required approvals and to effect the INVT SPE structure.
The foregoing description of the Amendment does not purport to be
complete and is qualified in its entirety by reference to the
complete text of such agreement, which is incorporated herein by
reference and attached hereto as Exhibit 10.1.
| Item 2.03. |
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The disclosure set forth in Item 1.01 of this Current Report on
Form 8-K is incorporated by reference herein.
| Item 9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits |
| Exhibit | |
| Number | Description |
| 10.1 |
First Amendment to Restructuring Agreement, dated March 31, 2017, by and between Inventergy Global, Inc., Inventergy, Inc., eOn Communications Systems, Inc., Inventergy Holding, LLC, Inventergy Innovations, LLC, Inventergy IOT, LLC, Inventergy LBS, LLC, DBD Credit Funding LLC and CF DB EZ LLC. |
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 -0.004 at 0.266 with 180,235 shares trading hands.
