Spindle, Inc. (OTCMKTS:SPDL) Files An 8-K Entry into a Material Definitive AgreementITEM 1.01
ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On October 2, 2017, Spindle, Inc. (the “Company”) entered into a binding term sheet (the “Binding Term Sheet”) whereby the Company would acquire all of the shares of a privately held payments processing company (the “Acquisition”). As part of the Acquisition, certain management of the target company would join the Company as the CEO and CTO upon closing. The Binding Term Sheet is attached hereto as Exhibit 10.1 with certain confidential information omitted and submitted to the Securities and Exchange Commission with a confidential treatment request.
ITEM 7.01
REGULATION FD DISCLOSURE
On October 3, 2017, the Company issued the press release attached hereto as Exhibit 99.1 regarding entry into the Binding Term Sheet.
The information disclosed under this Item 7.01, including Exhibit 99.1 hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be incorporated by reference into any registration statement or other document to the Securities Act of 1933, as amended, except as expressly set forth in such filing.
ITEM 9.01
FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
|
Exhibit No. |
Description |
|
10.1 |
Binding Term Sheet dated October 2, 2017.* |
|
99.1 |
Spindle, Inc. Press Release dated October 3, 2017.** |
*
Portions of the exhibit have been omitted to a request for confidential treatment.
**
Filed previously on the Company’s Current Report on Form 8-K filed with the SEC on October 4, 2017.
SPINDLE, INC. ExhibitEX-10.1 2 spdl_ex101.htm BINDING TERM SHEET ex-10.1 ********* ********* ********* ********* October 2,…To view the full exhibit click here
About Spindle, Inc. (OTCMKTS:SPDL)
Spindle Inc. (SPDL) provides commerce solutions for payment processing services, point-of-sale systems, and customer marketing to small and medium sized businesses. The Company enables businesses to sell their goods and services, accept payment, and create repeat sales though payment processing and marketing and loyalty programs. It operates as a payment facilitator (PF), which offers instant boarding to its merchants, and the Company has added traditional merchant services to its offering. The Company’s Yowza!! branded point-of-sale (POS) platform supplies business with a full commerce solution, which provides critical business functions, online ordering, inventory management and menu management, online ordering, mobile payment acceptance and Eurocard-MasterCard-Visa (EMV) compliance. It operates a self-service PF platform. As a PF, it provides services to merchants under a process defined by the card associations as Aggregation or Master Merchant.