Immersion Corp Completes Asset Acquisition

TL;DR

Immersion Corp just bought some assets. Details TBD.

AI Summary

On June 10, 2024, Immersion Corporation completed the acquisition of certain assets from Immersion Human Interface Corp. The filing does not disclose specific dollar amounts or further details regarding the transaction's financial implications.

Why It Matters

This filing indicates a strategic move by Immersion Corporation to expand its asset base, potentially impacting its market position and future product offerings.

Risk Assessment

Risk Level: low — The filing is a standard disclosure of an asset acquisition without immediate financial distress or significant changes in business operations.

Key Players & Entities

• Immersion Corporation (company) — Registrant
• Immersion Human Interface Corp (company) — Seller of acquired assets
• June 10, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value per share IMMR The NASDAQ
• $0.05 — red Shares") at a subscription price of $0.05 per share (the "Subscription Price") .
• $45,000,000 — ued the Offered Shares, which generated $45,000,000 in gross proceeds , including $ 10 ,0 3
• $2,450,000 — ,000. BNED also paid an amount equal to $2,450,000 to the Registrant, through Investor , a

Filing Documents

• immr-20240610.htm (8-K) — 53KB
• 0001213900-24-051888.txt ( ) — 226KB
• immr-20240610_def.xml (EX-101.DEF) — 16KB
• immr-20240610_pre.xml (EX-101.PRE) — 17KB
• immr-20240610_cal.xml (EX-101.CAL) — 1KB
• immr-20240610_lab.xml (EX-101.LAB) — 35KB
• immr-20240610.xsd (EX-101.SCH) — 4KB
• immr-20240610_htm.xml (XML) — 4KB

01. Completion of Acquisition or Disposition of Assets

Item 2.01. Completion of Acquisition or Disposition of Assets . This Current Report on Form 8-K is being filed in connection with the completion, on June 10, 2024 (the "Closing Date"), of the previously announced Transactions (defined below) contemplated by that certain Standby, Securities Purchase and Debt Conversion Agreement (the "Purchase Agreement") among Toro 18 Holdings, LLC ("Investor"), a Delaware limited liability company and wholly owned subsidiary of Immersion Corporation (the "Registrant"), Barnes & Noble Education, Inc., a Delaware c orporation ("BNED"), Vital Fundco, LLC ("Vital"), TopLids LendCo, LLC ("TopLids" and , together with Vital, the "Lien Purchasers"), Outerbridge Capital Management, LLC ("Outerbridge"), and Selz Family 2011 Trust ("Selz" and , together with Outerbridge, Investor, Vital, and TopLids, each individually a "Purchaser" and together the "Purchasers") , following BNED's receipt of the requisite approval of its stockholders at a special meeting of its stockholder held on June 5 , 2024 . P ursuant to the terms of the Purchase Agreement, BNED conducted a rights offering (the "Rights Offering"), whereby BNED distribute d at no charge to the holders of its common stock ("BNED Common Stock") non-transferable subscription rights ("Rights") to purchase up to an aggregate of 900,000,000 new shares of BNED Common Stock (the "Offered Shares") at a subscription price of $0.05 per share (the "Subscription Price") . On the Closing Date, the Company issued the Offered Shares, which generated $45,000,000 in gross proceeds , including $ 10 ,0 33 , 507 of Offered Shares purchased by Investor pursuant to the Backstop Commitment (as defined in the Purchase Agreement) . Pursuant to the Backstop Commitment, the Registrant, through Investor, purchased 200,670,135 shares of BNED Common Stock. BNED reimbursed t he Registrant, through Investor, for reasonable legal and other expenses in connection with the Transactions in the amount of $ 2 , 45 0 ,000.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (a) Financial Statements of Businesses or Funds Acquired. The financial statements required by Item 9.01(a) of Form 8-K are not included in this Current Report. The Company intends to file these financial statements by amendment within the timeframe permitted by Item 9.01(a). (b) Pro Forma Financial Information. The pro forma financial information required by Item 9.01(b) of Form 8-K is not included in this Current Report. The Company intends to file this pro forma information by amendment within the timeframe permitted by Item 9.01(b). (d) Exhibits. Exhibit No. Exhibit Title 10.1 Standby, Securities Purchase and Debt Conversion Agreement, dated as of April 16, 2024, by and among Toro 18 Holdings LLC, Barnes & Noble Education, Inc., Vital Fundco, LLC, TopLids LendCo, LLC, Outerbridge Capital Management, LLC, and Selz Family 2011 Trust. (incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K Immersion Corporation, filed with the SEC on April 16, 2024). 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

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. IMMERSION CORPORATION Date: June 12 , 2024 By: /s/ ERIC SINGER Name: Eric Singer Title: Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR