JAKKS PACIFIC, INC. Files 8-K Report
Ticker: JAKK · Form: 8-K · Filed: Mar 14, 2024 · CIK: 1009829
Sentiment: neutral
Topics: material-agreement, filing, sec
Related Tickers: JAKK
TL;DR
JAKKS PACIFIC (JAKK) filed an 8-K on March 8th, signaling a material definitive agreement.
AI Summary
On March 8, 2024, JAKKS PACIFIC, INC. entered into a Material Definitive Agreement. The company, incorporated in Delaware with its principal executive offices in Santa Monica, California, filed this 8-K report with the SEC.
Why It Matters
This filing indicates a significant event for JAKKS PACIFIC, INC., potentially impacting its business operations and financial standing.
Risk Assessment
Risk Level: medium — An 8-K filing signifies a material event, which could introduce new risks or opportunities for the company.
Key Numbers
- 001-35448 — SEC File Number (Identifies the company's filings with the SEC.)
- 24748130 — Film Number (Associated with the SEC filing.)
Key Players & Entities
- JAKKS PACIFIC, INC. (company) — Registrant
- Delaware (jurisdiction) — State of incorporation
- Santa Monica, California (location) — Principal executive offices
- March 8, 2024 (date) — Date of earliest event reported
- NASDAQ Global Select Market (exchange) — Exchange where Common Stock is registered
FAQ
What is the nature of the Material Definitive Agreement?
The filing does not specify the details of the Material Definitive Agreement, only that one was entered into on March 8, 2024.
What is JAKKS PACIFIC, INC.'s primary business?
JAKKS PACIFIC, INC. operates in the GAMES, TOYS & CHILDREN'S VEHICLES sector, as indicated by its SIC code.
Where are JAKKS PACIFIC, INC.'s principal executive offices located?
The principal executive offices are located at 2951 28th Street, Santa Monica, California 90405.
What class of securities is registered on the NASDAQ Global Select Market?
The Common Stock, $.001 par value, of JAKKS PACIFIC, INC. is registered on the NASDAQ Global Select Market under the trading symbol JAKK.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on March 8, 2024.
Filing Stats: 575 words · 2 min read · ~2 pages · Grade level 10.7 · Accepted 2024-03-14 09:21:48
Key Financial Figures
- $35 m — tock for an aggregate purchase price of $35 million, consisting of $20 million of cas
- $20 million — ase price of $35 million, consisting of $20 million of cash and 571,295 shares of its commo
- $15 m — stock ( the "Common Stock"), valued at $15 million, or $26.26 per share. The Redempt
- $26.26 — mmon Stock"), valued at $15 million, or $26.26 per share. The Redemption Agreement als
Filing Documents
- jakkspacif20240313_8k.htm (8-K) — 26KB
- ex_639241.htm (EX-10.1) — 59KB
- ex_639242.htm (EX-10.2) — 132KB
- 0001185185-24-000235.txt ( ) — 388KB
- jakk-20240308.xsd (EX-101.SCH) — 3KB
- jakk-20240308_def.xml (EX-101.DEF) — 10KB
- jakk-20240308_lab.xml (EX-101.LAB) — 19KB
- jakk-20240308_pre.xml (EX-101.PRE) — 11KB
- jakkspacif20240313_8k_htm.xml (XML) — 3KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. On March 8, 2024, the registrant entered into a Redemption Agreement (the "Redemption Agreement") with the holders of its Series A Senior Preferred Stock (the "Preferred Stock"). Pursuant to the terms of the Redemption Agreement, the Company redeemed all outstanding shares of the Preferred Stock for an aggregate purchase price of $35 million, consisting of $20 million of cash and 571,295 shares of its common stock ( the "Common Stock"), valued at $15 million, or $26.26 per share. The Redemption Agreement also provides that the Company will register the shares of Common Stock pursuant to the terms of a Registration Rights Agreement (the Registration Rights Agreement"), which was also entered into together with the Redemption Agreement. The foregoing descriptions of the Redemption Agreement and the Registration Rights Agreement are qualified in their entirety by reference to the full texts thereof, copies of which are filed as Exhibits 10.1 and 10.2, respectively, to this Form 8-K and is incorporated by reference into this Item 1.01.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits Exhibit Description 10.1* Redemption Agreement 10.2* Registration Rights Agreement 104 Cover Page Interactive Data File (formatted as Inline XBRL) * Certain schedules have been omitted pursuant to Item 601(a)(5) of Regulation S-K under the Securities Act. The Company agrees to furnish supplementally any omitted schedules to the Securities and Exchange Commission upon request.
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. JAKKS PACIFIC, INC. Dated: March 14, 2024 By: /s/ JOHN L. KIMBLE John L. Kimble, CFO