IMMERSION CORP (IMMR): M&A transaction — Immersion closes $45M BNED rights offering & PIPE; invests $55M, appoints four directors

IMMERSION CORP

Rights offering raised $45M gross from 900M shares at $0.05/share; Immersion backstop purchased 200,670,135 shares for $10.0M.
Immersion also bought 900M shares in a PIPE for $45M, total Immersion purchase of ~1.1B shares for $55M.
BNED completed a 1-for-100 reverse stock split on June 11, 2024, adjusting Immersion's holdings accordingly.
BNED appointed four Immersion directors (Eric Singer, William Martin, Emily Hoffman, Elias Nader) to its board post-closing.
BNED reimbursed Immersion $2.45M expenses and paid $2.45M fee for backstop commitment.

item 2.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

IMMERSION CORP completed an acquisition involving Barnes & Noble Education, Inc. for $45,000,000 (closed 2024-06-10).

Action: acquisition
Counterparty: Barnes & Noble Education, Inc.
Consideration: $45,000,000
Closing: 2024-06-10

Exact text from the filing

On the Closing Date, the Company issued the Offered Shares, which generated $45,000,000 in gross proceeds

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15 m&a transactions filed in the last 30 days. Browse all m&a transactions →

IMMERSION CORP filing history →

Source: SEC EDGAR

accession 0001213900-24-051888

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