secwatch.observer — SEC 8-K summary
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Issuer:     IMMERSION CORP (IMMR)
CIK:        0001058811
Form:       8-K
Filed at:   2024-06-12T23:59:59+00:00
Accession:  0001213900-24-051888
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Immersion closes $45M BNED rights offering & PIPE; invests $55M, appoints four directors
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1058811/000121390024051888/0001213900-24-051888-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1058811/000121390024051888/immr-20240610.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-051888

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