Marchex, Inc. (NASDAQ:MCHX) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
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Entry into a Material Definitive Agreement. |
On December 17, 2016, Marchex Sales LLC (Marchex Sales), a
wholly-owned subsidiary of Marchex, Inc. (Marchex) and
YellowPages.com LLC, a Delaware limited liability company
formerly doing business as ATT Interactive or ATTi (YP) entered
into Amendment No. 4 to the Master Services and License Agreement
dated December 15, 2016 (Amendment 4 to the Master Services and
License Agreement), which amends the Master Services and License
Agreement originally dated as of October 1, 2007, by and between
Marchex Sales and YP and as amended to date. Amendment 4 to the
Master Services and License Agreement extends the term through
December 31, 2018 and provides YP with certain termination rights
beginning January 1, 2018 upon four (4) months prior notice.
On December 17, 2016, Marchex Sales and YP entered into Amendment
No. 3 to the Pay-for-Call Distribution Agreement dated December
15, 2016 (Amendment 3 to the Pay-for-Call Distribution
Agreement), which amends the Pay-For-Call Distribution Agreement
originally effective as of January 1, 2011, by and between
Marchex Sales and YP and as amended to date. Amendment 3 to the
Pay-For-Call Distribution Agreement extends the term through
December 31, 2018 and modifies the parameters for certain
quarterly rebate credits that YP may earn based on level of spend
during the term.
The above summaries are qualified in their entirety by reference
to Amendment 4 to the Master Services and License Agreement and
Amendment No. 3 to the Pay-For-Call Distribution Agreement,
copies of which will be filed as exhibits to Marchexs next
applicable periodic report or registration statement.
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Item 1.02 |
Termination of a Material Definitive Agreement. |
On December 19, 2016, Marchex terminated its Credit Agreement
originally dated as of April 1, 2008 and as amended to date (the
Credit Agreement) with U.S. Bank National Association as
administrative agent thereunder (US Bank) which provided for a
secured revolving credit facility of up to $30.0 million. Marchex
never borrowed funds under the Credit Agreement.Marchexs
management determined that the credit facility was no longer
needed and therefore was not cost beneficial to Marchex. Marchex
did not incur any early termination penalties associated with the
termination of the Credit Agreement.In connection with such
termination, all liens that US Bank held on the assets of Marchex
were released and terminated.
About Marchex, Inc. (NASDAQ:MCHX)
Marchex, Inc. is an advertising analytics company. The Company offers products and services for enterprises that depend on consumer phone calls to drive sales. The Company’s media analytics products connect call data to media channels, including search and display – down to the campaign, keyword and impression. Its sales analytics products deliver actionable intelligence on the offline consumer journey to help prospects become customers. The Company’s product offerings include Marchex Call Analytics, Marchex Call Analytics for Search, Marchex Display Analytics, Marchex Call Marketplace and Local Leads. Marchex Call Analytics is an analytics platform for enterprises that depend on inbound phone calls to drive sales, appointments and reservations. Marchex Call Analytics for Search is a product for search marketers that drive phone calls from search campaigns. Marchex Display Analytics is a product for marketers that buy digital display advertising. Marchex, Inc. (NASDAQ:MCHX) Recent Trading Information
Marchex, Inc. (NASDAQ:MCHX) closed its last trading session up +0.05 at 2.72 with 89,029 shares trading hands.
