Current Report Filing (8-k)
January 15 2019 - 8:04AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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):
January 11, 2019
CISION
LTD.
(Exact Name of Registrant as Specified
in Charter)
Cayman Islands
(State or Other Jurisdiction
of Incorporation)
|
000-38140
(Commission
File Number)
|
N/A
(IRS Employer
Identification No.)
|
130 East Randolph Street, 7th Floor
Chicago, Illinois
(Address of Principal Executive Offices)
|
60601
(Zip Code)
|
Registrant’s telephone number, including
area code:
866-639-5087
N/A
(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:
|
¨
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
|
¨
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
|
¨
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
|
¨
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13c-4(c))
|
Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company
¨
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
¨
Item 1.01
|
Entry into a Material Definitive Agreement.
|
Incremental Amendment to Credit Agreement
On January 11, 2019, a wholly owned subsidiary of Cision Ltd.
(the “Company”), Canyon Valor Companies, Inc. (the “Borrower”), entered into an incremental facility amendment
(the “Incremental Amendment”) to the credit agreement with Deutsche Bank AG, New York Branch, as administrative agent
and collateral agent, and a syndicate of commercial lenders from time to time party thereto dated as of June 16, 2016, as amended
(the “Credit Facility”). The Incremental Amendment provides for an incremental $75 million dollar-denominated term
loan facility (the “Incremental Facility”). The terms of the Incremental Facility are substantially identical to the
terms of other term loan borrowings under the Credit Facility.
The proceeds from the
Incremental Facility will be used for general corporate purposes, working capital purposes and investments, which may
include one or more strategic acquisitions. The Company is currently in active negotiations with respect to several strategic
acquisitions. The Company cannot provide any assurances that it will be successful in consummating strategic acquisitions,
including any of the acquisitions referred to in the preceding sentence.
The foregoing description of the Incremental Amendment does
not purport to be complete and is qualified in its entirety by reference to the full text of the agreement. A copy of the Incremental
Amendment is filed as Exhibit 10.1 to this Current Report on Form 8-K.
Item 2.03
|
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
|
The disclosure set forth above in Item 1.01 is incorporated
by reference herein.
Item 5.02
|
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
|
Departure of Named Executive Officer
On January 15, 2019, the Company
announced the departure of Jason Edelboim, who is currently serving as President, Americas. Mr. Edelboim’s departure
will become effective on January 16, 2019.
Forward-Looking Statements
The Company cautions you that statements included in this current
report on Form 8-K that are not a description of historical facts are forward-looking statements that involve risks, uncertainties,
assumptions and other factors which, if they do not materialize or prove correct, could cause the Company’s results to differ materially
from those expressed or implied by such forward-looking statements. Forward-looking statements include, but are not limited to,
statements regarding the Company’s expected use of proceeds and potential acquisitions. The risks and uncertainties relating to
the Company are contained in its periodic filings with the Securities and Exchange Commission. The Company’s public filings with
the Securities and Exchange Commission are available at www.sec.gov. The Company assumes no obligation to update any forward-looking
statement to reflect events or circumstances arising after the date on which it was made.
Item 9.01
|
Financial Statements and Exhibits.
|
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.
Dated: January 15, 2019
|
CISION LTD.
|
|
|
|
|
By:
|
/s/ Jack Pearlstein
|
|
|
|
Name: Jack Pearlstein
|
|
|
Title: Chief Financial Officer
|
Cision (NYSE:CISN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Cision (NYSE:CISN)
Historical Stock Chart
From Jul 2023 to Jul 2024