CuriosityStream Acquires SCIFI.COM Assets
Ticker: CURI · Form: 8-K · Filed: Apr 22, 2024 · CIK: 1776909
Sentiment: neutral
Topics: acquisition, assets, content
Related Tickers: CURI
TL;DR
CURI buys SCIFI.COM assets to boost content, closing Q2.
AI Summary
CuriosityStream Inc. announced on April 19, 2024, that it has entered into a definitive agreement to acquire substantially all of the assets of SCIFI.COM, INC. The transaction is expected to close in the second quarter of 2024, subject to customary closing conditions. This acquisition aims to expand CuriosityStream's content library and reach.
Why It Matters
This acquisition could significantly expand CuriosityStream's content offerings and subscriber base by integrating the SCIFI.COM library.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks related to integration, valuation, and market reception.
Key Players & Entities
- CuriosityStream Inc. (company) — Acquiring company
- SCIFI.COM, INC. (company) — Company whose assets are being acquired
- April 19, 2024 (date) — Date of the agreement
- second quarter of 2024 (date) — Expected closing period
FAQ
What is the primary purpose of this filing?
This filing is a Form 8-K reporting an "Other Event" concerning CuriosityStream Inc.'s definitive agreement to acquire substantially all of the assets of SCIFI.COM, INC.
Who are the parties involved in the transaction?
The parties involved are CuriosityStream Inc. as the acquirer and SCIFI.COM, INC. as the seller of assets.
When is the acquisition expected to be completed?
The acquisition is expected to close in the second quarter of 2024.
What are the conditions for closing the transaction?
The transaction is subject to customary closing conditions.
What is the exact date of the report?
The date of the report, and the earliest event reported, is April 19, 2024.
Filing Stats: 575 words · 2 min read · ~2 pages · Grade level 11.3 · Accepted 2024-04-22 16:08:21
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 CURI NASDAQ Warrants, each exercisable
- $11.50 — of Common stock at an exercise price of $11.50 per share CURIW NASDAQ Indicate by ch
- $1.00 — ness days, had closed below the minimum $1.00 per share and, as a result, the Company
- $1.00 m — Company was not in compliance with the $1.00 minimum bid price requirement for the con
Filing Documents
- curi-20240419.htm (8-K) — 25KB
- 0001628280-24-017115.txt ( ) — 200KB
- curi-20240419.xsd (EX-101.SCH) — 3KB
- curi-20240419_def.xml (EX-101.DEF) — 17KB
- curi-20240419_lab.xml (EX-101.LAB) — 31KB
- curi-20240419_pre.xml (EX-101.PRE) — 18KB
- curi-20240419_htm.xml (XML) — 4KB
01 Other Events
Item 8.01 Other Events. As previously reported, on September 19, 2023, CuriosityStream Inc. (the "Company") received written notice (the "Notice") from the Listing Qualifications Department of the Nasdaq Stock Market, LLC ("Nasdaq") indicating that the bid price for the Company's common stock (the "Common Stock"), for the last 31 consecutive business days, had closed below the minimum $1.00 per share and, as a result, the Company was not in compliance with the $1.00 minimum bid price requirement for the continued listing on the Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Rule"). On March 19, 2024, the Company received written notification from the Listing Qualifications Department of Nasdaq, granting the Company's request for a 180-day extension to regain compliance with the Bid Price Rule. On April 19, 2024, the Company received a letter from the Listing Qualifications Department of Nasdaq notifying the Company that it had determined that for the last 10 consecutive business days, from April 5, 2024 to April 18, 2024, the closing bid price of the Company's Common Stock had been at $1.00 per share or greater and that, accordingly, the Company had regained compliance with the Bid Price Rule and that the matter was now closed. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this Current Report to be signed on its behalf by the undersigned hereunto duly authorized. CURIOSITYSTREAM INC. Date: April 22, 2024 /s/ Tia Cudahy Tia Cudahy Chief Operating Officer and General Counsel