Inventergy Global, Inc. (NASDAQ:INVT) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
On August 15, 2017, Inventergy Global, Inc. (the “Company”) entered into an agreement (the “Agreement”) with all of the members (the “Investors”) of its Board of Directors to which the Investors funded an aggregate of $100,000 to the Company (the “Financing”). to the Agreement, the Investors will be entitled to receive a percentage of the future distributions (equal to the amount of the Financing as a percentage of the total amount received in the SPE Financing (as defined below)) that the Company receives from patent monetization revenues from INVT SPE LLC (the “SPE”), a special purpose entity that holds certain patents transferred by the Company and of which the Company owns Class B membership interests. The Investors will be entitled to receive a total of 400% of the amount of the Financing (the “Total Return”) from its portion of the SPE distributions and the proceeds of the SPE Financing. The Investors will receive an accelerated first quarter of the Total Return upon the completion of any financing related to the Company’s ownership interest in the SPE (“SPE Financing”) in excess of the first $1,000,000. The Agreement also provides that the Investors are entitled to receive any more favorable terms given to other investors in any future SPE Financing.
The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the complete text of the Agreement, which the Company intends to file as an exhibit to the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2017.
On August 17, 2017, the Company issued a press release announcing the Financing. A copy of the press release is attached hereto as Exhibit 99.1.
| Item 9.01. | Financial Statements and Exhibits. |
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Exhibit |
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| Number | Description |
| 99.1 | Press Release, dated August 17, 2017 |
Inventergy Global, Inc. ExhibitEX-99.1 2 v473753_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Inventergy Announces Non-Dilutive Financing Board of Directors Provides Initial Funds for New Financing Initiative CUPERTINO,…To view the full exhibit click here
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.
