secwatch.observer — SEC 8-K summary
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Issuer:     IMMERSION CORP (IMMR)
CIK:        0001058811
Form:       8-K/A
Filed at:   2024-08-26T23:59:59+00:00
Accession:  0001213900-24-072639
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.65
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Immersion acquires 42% of BNED for $50.1M; gains control with 5 board seats
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- Purchased 42% of BNED common stock for $50.1M cash; control via 5 Immersion-appointed board seats.
- Pro forma H1 2024 combined revenue $784M; net income attributable to IMMR $36.8M ($1.16 basic EPS).
- Purchase price allocation: $95M intangible assets ($45M trade name, $50M customer relationships) and $14.2M goodwill.
- BNED historical net loss: $31.3M (H1 2024) and $89.1M (FY2023); pro forma adjustments reduce combined losses.
- Noncontrolling interest valued at $203.7M based on $13.40/share, representing 58% ownership of BNED.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1058811/000121390024072639/0001213900-24-072639-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1058811/000121390024072639/immr-20240610.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-072639

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