Shutterstock Files 8-K/A Amendment on Asset Acquisition/Disposition

Ticker: SSTK · Form: 8-K/A · Filed: Oct 3, 2024 · CIK: 1549346

Sentiment: neutral

Topics: acquisition, amendment, assets

Related Tickers: SSTK

TL;DR

Shutterstock filed an 8-K/A amendment on Oct 3rd regarding a completed asset deal from July 26th. Details pending.

AI Summary

Shutterstock, Inc. filed an amendment (8-K/A) on October 3, 2024, to its report originally dated July 26, 2024. This amendment pertains to the completion of an acquisition or disposition of assets and includes financial statements and exhibits related to the event. The filing does not specify the nature of the acquisition or disposition, nor does it provide financial details.

Why It Matters

This filing indicates Shutterstock has completed a transaction involving assets, which could impact its business operations and financial structure. Investors should look for further details on the nature and financial implications of this transaction.

Risk Assessment

Risk Level: medium — The filing is an amendment to a previous report concerning an asset acquisition or disposition, which could have significant financial implications that are not yet fully disclosed.

Key Players & Entities

FAQ

What specific acquisition or disposition of assets is being reported in this 8-K/A filing?

The filing is an amendment to a Form 8-K dated July 26, 2024, concerning the completion of an acquisition or disposition of assets, but the specific details of the transaction are not provided in the excerpt.

What is the significance of filing an 8-K/A instead of a standard 8-K?

An 8-K/A is an amendment to a previously filed 8-K. This suggests that the original filing may have contained an omission or error, or that additional information needs to be provided.

When was the original event (completion of acquisition/disposition) reported?

The original event was reported as of July 26, 2024, according to the filing.

What financial statements or exhibits are included with this amendment?

The filing indicates that financial statements and exhibits are included as part of this amendment, but their specific content is not detailed in the provided text.

What is Shutterstock, Inc.'s principal executive office address?

Shutterstock, Inc.'s principal executive offices are located at 350 Fifth Avenue, 20th Floor, New York, NY 10118.

Filing Stats: 779 words · 3 min read · ~3 pages · Grade level 11.5 · Accepted 2024-10-03 17:13:32

Key Financial Figures

Filing Documents

01 Completion of Acquisition or Disposition of Assets

Item 2.01 Completion of Acquisition or Disposition of Assets. As previously disclosed in the Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission (the "SEC") by Shutterstock, Inc. (the "Company") on July 22, 2024 (the "Original Form 8-K"), the Company consummated its previously announced acquisition of Envato Pty Ltd. ("Envato") on July 22, 2024 pursuant to the Share Purchase Agreement (the "Purchase Agreement"), whereby Garnett-Saunders Pty Ltd, Draconis Holdings Pty Ltd and Ta'eed Felah Pty Ltd (collectively, the "Sellers") sold, and Shutterstock AUS EMU Pty Ltd., a wholly owned indirect subsidiary of the Company ("Purchaser") purchased, all of the issued and outstanding capital stock of Envato. The consideration payable by the Company pursuant to the Purchase Agreement, after customary working capital and other adjustments in accordance with the terms of the Purchase Agreement, was approximately $250 million. This Form 8-K/A has been filed to amend and supplement the Original Form 8-K to provide the financial statements described in Item 9.01 below, which are permitted to be filed by amendment not later than 71 calendar days after the date that the Original Form 8-K was required to be filed with the SEC.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (a) Financial statements of businesses or funds acquired. Envato's audited consolidated financial statements as of and for the year ended June 30, 2023 and unaudited condensed consolidated financial statements for the six-month periods ended December 31, 2023 and 2022 are attached as Exhibits 99.1 and 99.2, respectively, to this Form 8-K/A and incorporated herein by reference. Such financial statements of Envato were prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board. (b) Pro forma financial information. The unaudited pro forma condensed combined financial information as of and for the three months ended March 31, 2024, and for the year ended December 31, 2023, related to the Company's acquisition of Envato are attached as Exhibit 99.3 to this Form 8-K/A and incorporated herein by reference. (d) Exhibits. Exhibit No. Exhibit Description 23.1 Consent of PricewaterhouseCoopers 99.1 Envato Pty Ltd audited consolidated financial statements as of and for the year ended June 30, 2023 99.2 Envato Pty Ltd unaudited condensed consolidated financial statements for the six-month periods ended December 31, 2023 and 2022 99.3 Shutterstock, Inc. Unaudited pro forma condensed combined financial information as of and for the three months ended March 31, 2024 and for the year ended December 31, 2023 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 hereunto duly authorized. SHUTTERSTOCK, INC. Dated: October 3, 2024 By: /s/ Jarrod Yahes Jarrod Yahes Chief Financial Officer 3

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