secwatch.observer — SEC 8-K summary
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Issuer:     IMMERSION CORP (IMMR)
CIK:        0001058811
Form:       8-K
Filed at:   2024-04-16T23:59:59+00:00
Accession:  0001213900-24-033529
Event type: other_material
Sentiment:  neutral
Materiality: 0.80
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Immersion to backstop BNED rights offering, invest up to $80M and convert debt
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- Immersion subsidiary Toro 18 commits up to $35M backstop for BNED rights offering at $0.05/share.
- Immersion to purchase 900M PIPE shares for $45M; Vital purchases 100M PIPE shares for $5M.
- All outstanding BNED debt under Term Credit Agreement converts to equity at $0.05/share.
- Immersion designates four board members (Eric Singer, W. Martin, E. Hoffman, E. Nader) post-closing.
- Immersion expects total stockholder equity ~$200M as of March 31, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1058811/000121390024033529/0001213900-24-033529-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1058811/000121390024033529/immr-20240416.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-033529

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer