MaxPoint Interactive,Inc. (NASDAQ:MXPT) Files An 8-K Termination of a Material Definitive AgreementItem 1.02. Termination of a Material Definitive Agreement.
On October 10, 2017, MaxPoint Interactive, Inc. (the “Company”) repaid all amounts due and owing under that certain Loan and Security Agreement, dated as of June 12, 2014, as amended, between the Company and Silicon Valley Bank (the “Loan Agreement”). Accordingly, among other things, (i) all obligations under the Loan Agreement and other related documents have been paid, satisfied, released and discharged in full; (ii) all unfunded commitments to make credit extensions or financial accommodations to the Company or any other person under the Loan Agreement have been automatically and irrevocably terminated; and (iii) the Company’s obligations under the Loan Agreement and all related documents have been automatically and irrevocably terminated (other than with respect to contingent indemnification obligations and other customary provisions and agreements that are expressly specified to survive the termination).
About MaxPoint Interactive,Inc. (NASDAQ:MXPT)
MaxPoint Interactive, Inc. is a marketing technology company. The Company provides business intelligence and marketing automation solution. The Company’s MaxPoint Intelligence Platform is a cloud-based software service that enables to predict local demand for national brands based on consumers’ purchase power and intent and manage customized digital advertisements containing in-store offers and promotions to reach consumers at a local level across display, mobile, social and video channels. Through marketing automation and direct integrations with real-time bidding (RTB) exchanges, the Company’s platform delivers customized digital advertisements containing product and store specific promotions to local consumers. The Company’s customers are located in the United States and Europe, and consist of enterprises with national brands in the consumer products, retail, automotive, financial services, healthcare, telecommunications and entertainment industries.