SharpSpring, Inc. (NASDAQ:SHSP) Files An 8-K Entry into a Material Definitive Agreement

SharpSpring, Inc. (NASDAQ:SHSP) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01Entry into a Material Definitive Agreement.

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On March 21, 2019 SharpSpring, Inc. (the “Company”) and its subsidiary SharpSpring Technologies, Inc. (together with the Company, collectively, “Borrowers”), entered into aLoan and Security Modification Agreement withWestern Alliance Bank (“Bank”) that modifies the Loan and Security Agreement dated March 21, 2016 by and among Borrowers and Bank, as amended from time to time. The Loan and Security Modification Agreement, among other things, amends the definition of “Cash Management Sublimit” and amends and restates the Minimum Adjusted EBITDA provisions.

A copy oftheLoan and Security Modification Agreementis attached hereto asExhibit 10.5and is incorporated herein by reference.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

The information set forth above under Item 1.01 is incorporated by reference in this Item 2.03.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.

Exhibit No.

Description

10.1

Loan Agreementdated March 21, 2016, by and amongSharpSpring, Inc., Quattro Hosting LLC, SharpSpring Technologies, Inc. and Western Alliance Bank

Incorporated by reference to the Company’s Form 8-K filed on March 22, 2016.

10.2

Intellectual Property Security Agreementdated March 21, 2016, by and amongSharpSpring, Inc., Quattro Hosting LLC, SharpSpring Technologies, Inc. and Western Alliance Bank

Incorporated by reference to the Company’s Form 8-K filed on March 22, 2016.

10.3

Loan and Security Modification Agreement datedOctober 25, 2017,by and amongSharpSpring, Inc., Quattro Hosting LLC, SharpSpring Technologies, Inc. and Western Alliance Bank

Incorporated by reference to the Company’s Form 8-K filed on October 30, 2017.

10.4

Loan and Security Modification Agreement datedApril 30, 2018,by and amongSharpSpring, Inc., Quattro Hosting LLC, SharpSpring Technologies, Inc. and Western Alliance Bank

Incorporated by reference to the Company’s Form 8-K filed on May 1, 2018.

10.5

Loan and Security Modification Agreement datedMarch 21, 2019,by and amongSharpSpring, Inc., SharpSpring Technologies, Inc. and Western Alliance Bank

Filed herewith

SharpSpring, Inc. Exhibit
EX-10.5 2 shsp_ex105.htm LOAN AND SECURITY MODIFICATION AGREEMENT Blueprint   EXHIBIT 10.5   LOAN AND SECURITY MODIFICATION AGREEMENT   This Loan and Security Modification Agreement is entered into as of March 21,…
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About SharpSpring, Inc. (NASDAQ:SHSP)

SharpSpring, Inc., formerly SMTP, Inc., is a cloud-based marketing technology company. The Company’s SharpSpring marketing automation platform uses features, such as Web tracking, lead scoring and automated workflow to enable businesses deliver messages to the customers. The SharpSpring marketing automation solution offers digital marketing tools to small and medium-sized businesses and is primarily sold to marketing agencies using the platform on behalf of their clients. The Company offers a SMTP relay product, which is designed to send high volumes of e-mail messages. The Company offers the GraphicMail e-mail campaign management solution to customers globally. The GraphicMail platform is focused on e-mail, social and mobile marketing and is used by companies wishing to communicate with a list of subscribers or customers. The Company’s platform is used by agencies, agency clients and direct end users.

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