Innovative Solutions & Support Files 8-K
Ticker: ISSC · Form: 8-K · Filed: Sep 10, 2024 · CIK: 836690
| Field | Detail |
|---|---|
| Company | Innovative Solutions & Support INC (ISSC) |
| Form Type | 8-K |
| Filed Date | Sep 10, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, security-holder-rights, filing
Related Tickers: ISSC
TL;DR
ISSC filed an 8-K on 9/6, looks like a material agreement and changes for shareholders.
AI Summary
On September 6, 2024, Innovative Solutions & Support, Inc. entered into a material definitive agreement. The filing also indicates modifications to the rights of security holders and includes financial statements and exhibits. The company is incorporated in Pennsylvania and its principal executive offices are located at 720 Pennsylvania Drive, Exton, PA.
Why It Matters
This 8-K filing signals a significant event for Innovative Solutions & Support, Inc., potentially impacting its operations, financial structure, or shareholder rights.
Risk Assessment
Risk Level: medium — Material definitive agreements and modifications to security holder rights can introduce significant changes and potential risks for a company.
Key Numbers
- 001-41503 — SEC File Number (Identifies the company's filing history with the SEC.)
- 23-2507402 — IRS Employer Identification No. (Company's tax identification number.)
Key Players & Entities
- Innovative Solutions & Support, Inc. (company) — Registrant
- Pennsylvania (location) — State of Incorporation
- 720 Pennsylvania Drive, Exton, PA 19341 (location) — Principal executive offices
- September 6, 2024 (date) — Date of earliest event reported
FAQ
What type of material definitive agreement was entered into by Innovative Solutions & Support, Inc. on September 6, 2024?
The filing does not specify the exact nature of the material definitive agreement, only that one was entered into.
What specific modifications were made to the rights of security holders?
The filing indicates 'Material Modifications to Rights of Security Holders' as an item information, but the details of these modifications are not provided in this summary.
What is the primary business of Innovative Solutions & Support, Inc. based on its SIC code?
The Standard Industrial Classification (SIC) code 7371 indicates the company is in 'Services-Computer Programming Services'.
When is Innovative Solutions & Support, Inc.'s fiscal year end?
The company's fiscal year ends on September 30.
What is the filing date for this 8-K report?
The filing was made as of September 10, 2024, with the earliest event reported on September 6, 2024.
Filing Stats: 668 words · 3 min read · ~2 pages · Grade level 11.3 · Accepted 2024-09-09 20:01:12
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share ISSC Nasdaq Stock Market LL
Filing Documents
- tm2423627d1_8k.htm (8-K) — 28KB
- tm2423627d1_ex4-1.htm (EX-4.1) — 12KB
- 0001104659-24-098281.txt ( ) — 212KB
- issc-20240906.xsd (EX-101.SCH) — 3KB
- issc-20240906_lab.xml (EX-101.LAB) — 33KB
- issc-20240906_pre.xml (EX-101.PRE) — 22KB
- tm2423627d1_8k_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On September 6, 2024, the Board of Directors (the " Board ") of Innovative Solutions and Support, Inc. (the " Company ") approved an amendment (the " Amendment ") to the Rights Agreement (the " Ri g hts A g reement "), dated as of September 12, 2022, between the Company and Broadridge Corporate Issuer Solutions, Inc., as Rights Agent, to extend the Final Expiration Date, as defined in the Rights Agreement, to the close of business on September 10, 2025. The extension of the Final Expiration Date under the Rights Agreement was entered into to promote the fair and equal treatment of all Company shareholders and ensure that no person or group can gain control of the Company through open market accumulation or other tactics without paying a control premium. In addition, extending the Rights Agreement will help to ensure that the Board has sufficient time to exercise its fiduciary duties to make informed judgments about the actions of third parties and to permit the Board to assess any such actions in light of the best interests of the Company and allow the Board to protect its ability to continue to pursue its long-term strategic objectives. The following description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, which is attached hereto as Exhibit 4.1 and incorporated herein by reference.
03. Material Modification of Rights of Security Holders
Item 3.03. Material Modification of Rights of Security Holders. The information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated into this Item 3.03 by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 4.1 Amendment to Rights Agreement, dated as of September 9, 2024, between Innovative Solutions and Support, Inc. and Broadridge Corporate Issuer Solutions, Inc., as Rights Agent 104 Cover Page Interactive Data File – the cover page XBRL tags are embedded within the inline XBRL document. SIGNATURE 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, thereunto duly authorized. INNOVATIVE SOLUTIONS AND SUPPORT, INC. Date: September 10, 2024 By: /s/ Jeffrey DiGiovanni Jeffrey DiGiovanni Chief Financial Officer