- Current report filing (8-K)
September 13 2012 - 3:32PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of
1934
Date of Report (Date of earliest event reported): September 12, 2012
Motricity, Inc.
(Exact name of registrant as specified in its charter)
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Delaware
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001-34781
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20-1059798
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(State or Other Jurisdiction of
Incorporation or Organization)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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601 108th Avenue Northeast
Suite 900
Bellevue, WA 98004
(Address of Principal Executive Offices, including Zip Code)
(425) 957-6200
(Registrants Telephone Number, including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last
Report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 1.01
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Entry into a Material Definitive Agreement.
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On September 12, 2012, in connection with resuming its current rights offering (the Rights Offering), Motricity, Inc. (the Company) obtained a limited waiver from High River
Limited Partnership (High River) providing that the Rights Offering does not trigger repayment of the $20 million secured term loan from High River, evidenced by that certain Amended and Restated Promissory Note, dated February 28, 2012,
as amended on May 10, 2012 (the Note), as long as the Rights Offering is consummated on or prior to October 31, 2012. Except as set forth in the limited waiver, the Note and other Loan Documents (as defined therein) shall continue in
full force and effect, each in accordance with its original terms.
High River is beneficially owned by Carl C. Icahn, a beneficial holder of
approximately 16.5% of our outstanding securities. Brett C. Icahn, a director of the Company, is the son of Carl C. Icahn, and Hunter C. Gary, a director of the Company, is married to Carl C. Icahns wifes daughter.
On September 13, 2012,
the Company issued a press release announcing that it has resumed its rights offering that initially commenced on July 24, 2012 and was subsequently suspended on August 15, 2012 pending modification of the composition of the units to be
offered.
A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Limitation on Incorporation by Reference.
The information contained in Exhibit 99.1 is being furnished under Item 7.01 of Form 8-K and shall
not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by
reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Cautionary Note Regarding Forward-Looking Statements
. Except for historical information contained in this Form 8-K and the press release attached as an exhibit hereto, this Form 8-K and the press
release contain forward-looking statements which involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these statements. Please refer to the cautionary note in the press
release regarding these forward-looking statements.
Item 9.01 Financial Statements and Exhibits.
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Exhibit
No.
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Description
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99.1
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Press release, September 13, 2012, issued by Motricity, Inc.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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MOTRICITY, INC.
(Registrant)
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September 13, 2012
(Date)
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By:
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/s/ James R. Smith, Jr.
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James R. Smith, Jr.
Interim
Chief Executive Officer
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