Safeguard Scientifics, Inc. (NYSE:SFE) Files An 8-K Entry into a Material Definitive Agreement
ITEM 1.01. Entry into a Material Definitive Agreement.
As previously disclosed by Safeguard Scientifics, Inc. (“Safeguard”) in its Current Report on Form 8-K filed with the Securities and Exchange Commission on July 9, 2018, Safeguard Delaware, Inc. (the “Seller”), a subsidiary of Safeguard, entered into a Stock Repurchase Agreement (the “Agreement”) with MediaMath Holdings, Inc. (“MediaMath”).
As part of the Agreement, the Seller granted MediaMath an option to purchase 10.87% of the Seller’s ownership position in MediaMath for $12.5 million (the “Option”). The Option was exercisable within 180 days after July 2, 2018.
On January 3, 2019, the Seller and MediaMath entered into an amendment to the Agreement (the “Amendment”) providing for an extension of the Option period until September 30, 2019. The Amendment further provides that the exercise price of the Option will be $12.5 million plus simple interest accruing on such amount at a rate of 7% per annum from December 29, 2018 until the date of the closing of the exercise of the Option (computed on the basis of actual calendar days elapsed and a year of 360 days).
The summary of the Amendment contained in this Item 1.01 does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K.
ITEM 9.01. Financial Statements and Exhibits.
SAFEGUARD SCIENTIFICS INC Exhibit
EX-10.1 2 tv510279_ex10-1.htm EXHIBIT 10.1 Exhibit 10.1 Amendment No. 1 to Stock Repurchase Agreement This Amendment No. 1 to Stock Repurchase Agreement (the “Amendment”) dated as of January 3,…
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About Safeguard Scientifics, Inc. (NYSE:SFE)
Safeguard Scientifics, Inc. provides capital, as well as strategic, operational and management resources to growth-stage businesses. The Company participates in early- and growth-stage financings. The Company operates through two segments: Healthcare and Technology. The Healthcare segment’s companies focuses principally on medical technology (MedTech), including diagnostics and devices, and healthcare technology (HealthTech). The Technology segment’s companies focuses principally on digital media, financial technology (FinTech), and enterprise software, including mobile technology, cloud, Internet of Things (IoT) and big data. It holds interests in approximately 30 non-consolidated partner companies, which are included in the Healthcare and Technology segments. The Company provides management and operational support, as well as ongoing planning and development assessment. It provides mentoring, advice and guidance to develop partner company management.
