Qumu Corporation (NASDAQ:QUMU) Files An 8-K Regulation FD DisclosureITEM 7.01REGULATION FD DISCLOSURE.
On July 19, 2018, Qumu Corporation (the “Company”) paid $6,462,955.73 on its outstanding term loan from ESW Holdings, Inc. under that certain Term Loan Credit Agreement dated January 12, 2018. The payment was comprised of principal of $6,000,000 and accrued interest of $462,955.73 for the period January 12, 2018 to the payment date of July 19, 2018.
The Company used a portion of the $9,637,797.79 in net proceeds from the sale of its investment in BriefCam Ltd. to fund the prepayment. Under the Term Loan Credit Agreement, a voluntary prepayment by the Company from the net proceeds received from the disposition of the Company’s investment in BriefCam Ltd. will not trigger a prepayment fee.
About Qumu Corporation (NASDAQ:QUMU)
Qumu Corporation (Qumu) is an enterprise video content management software company. The Company is engaged in providing tools businesses need to create, manage, secure, deliver and measure their videos. The Company operates through the enterprise video content management software business segment. Its video content management software solutions allow organizations to create, capture, organize and deliver content across the extended enterprise to a range of end points, including mobile devices and thick or thin clients. Qumu’s video platform supports both live and on-demand streaming. The Qumu platform is a video content management software solution that can be deployed as a perpetual software license, a term software license or a cloud-hosted software as a service (SaaS). Qumu Capture Studio is a portable software-enabled device that records, edits and publishes video and presentation content.