GSI Technology Files 8-K on Financials and Agreements
Ticker: GSIT · Form: 8-K · Filed: May 2, 2024 · CIK: 1126741
| Field | Detail |
|---|---|
| Company | Gsi Technology Inc (GSIT) |
| Form Type | 8-K |
| Filed Date | May 2, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $11.85 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: financial-condition, definitive-agreement, results-of-operations
TL;DR
GSI Tech dropped an 8-K: financial updates and new deals filed April 30th.
AI Summary
GSI Technology, Inc. filed an 8-K on April 30, 2024, reporting on its financial condition and results of operations. The filing also disclosed the entry into a material definitive agreement and included financial statements and exhibits. The company is based in Sunnyvale, California.
Why It Matters
This 8-K filing provides investors with crucial updates on GSI Technology's financial performance and any significant new contractual obligations, impacting their investment decisions.
Risk Assessment
Risk Level: low — This filing is a routine disclosure of financial information and material agreements, not indicating any immediate operational or financial distress.
Key Players & Entities
- GSI Technology, Inc. (company) — Registrant
- April 30, 2024 (date) — Date of earliest event reported
- Sunnyvale, California (location) — Principal executive offices
- 001-33387 (other) — Commission File Number
FAQ
What specific material definitive agreement did GSI Technology, Inc. enter into?
The filing indicates the entry into a material definitive agreement, but the specific details of this agreement are not provided in the excerpt.
What period do the results of operations and financial condition pertain to?
The filing is dated April 30, 2024, and reports on the company's financial condition and results of operations as of that date, though the specific reporting period is not detailed in the excerpt.
Where are GSI Technology, Inc.'s principal executive offices located?
GSI Technology, Inc.'s principal executive offices are located at 1213 Elko Drive, Sunnyvale, California, 94089.
What is the Commission File Number for GSI Technology, Inc.?
The Commission File Number for GSI Technology, Inc. is 001-33387.
What is the I.R.S. Employer Identification No. for GSI Technology, Inc.?
The I.R.S. Employer Identification No. for GSI Technology, Inc. is 77-0398779.
Filing Stats: 626 words · 3 min read · ~2 pages · Grade level 9.2 · Accepted 2024-05-02 16:07:22
Key Financial Figures
- $0.001 — ge on which registered: Common Stock, $0.001 par value GSIT The Nasdaq Stock Mar
- $11.85 million — e property in Sunnyvale, California for $11.85 million in cash. On April 30, 2024, the Company
Filing Documents
- tm2413258d1_8k.htm (8-K) — 27KB
- tm2413258d1_ex10-1.htm (EX-10.1) — 13KB
- tm2413258d1_ex99-1.htm (EX-99.1) — 110KB
- 0001104659-24-056378.txt ( ) — 333KB
- gsit-20240430.xsd (EX-101.SCH) — 3KB
- gsit-20240430_lab.xml (EX-101.LAB) — 33KB
- gsit-20240430_pre.xml (EX-101.PRE) — 22KB
- tm2413258d1_8k_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. GSI Technology, Inc. (the "Company") previously entered into a purchase and sale agreement (the "Agreement") with D.R. Stephens & Company, LLC (the "Purchaser"), to sell the Company's 1213 Elko Drive property in Sunnyvale, California for $11.85 million in cash. On April 30, 2024, the Company and the Purchaser entered into an amendment to the Agreement (the "Amendment") to extend the closing date by a week to Monday, June 10, 2024. The foregoing description of Amendment is subject to, and qualified in its entirety by, the Amendment, a copy of which is filed as Exhibit 10.1 hereto and incorporated herein by reference.
02 Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition. On May 2, 2024, the Company issued a press release announcing financial results for its fourth fiscal quarter and fiscal year 2024 and a business update. A copy of the press release is furnished with this report. The press release should be read in conjunction with the forward-looking statements included in the text of the release. The information contained in Items 2.02 and 9.01 (Exhibit 99.1) of this report and Exhibit 99.1 hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 First Amendment to Purchase and Sale Agreement with Escrow Instructions dated April 30, 2024 between GSI Technology, Inc. and D.R. Stephens & Company, LLC 99.1 GSI Technology, Inc. Press Release dated May 2, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2
SIGNATURES
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. Date: May 2, 2024 GSI Technology, Inc. By: /s/ Douglas M. Schirle Douglas M. Schirle Chief Financial Officer 3