{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-24-003647","form_type":"8-K","ticker":null,"cik":"0001029744","company_name":"SONIC FOUNDRY INC","filed_at":"2024-02-09T23:59:59+00:00","discovered_at":"2026-05-14T18:03:23.155062+00:00","generated_at":"2026-06-06T04:39:38.511274+00:00","sec_items":["2.01","5.07","9.01"],"event_type":"m_and_a","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Sonic Foundry completes Mediasite asset sale to Enghouse for $15.5M; left with loss-making units and $6.8M debt","bullets":["Closed sale of Mediasite business and foreign subs to Enghouse for $15.5M; net cash to company ~$2.2M after debt and expenses.","Post-closing net cash adjustment reduced price by $4.1M; $1.0M holdback payable in one year subject to adjustments.","Remaining Vidable and Global Learning Exchange businesses generate limited revenue, negative cash flow and significant losses.","Company owes ~$6.8M to Mark Burish and ~$3.0M to trade creditors; high debt and delisted from NASDAQ pose going concern risk.","Board evaluating strategic alternatives including sale of Global Learning Exchange to Burish for debt relief or refinancing."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-24-003647","json":"https://secwatch.observer/filing/0001437749-24-003647.json","markdown":"https://secwatch.observer/filing/0001437749-24-003647.md","text":"https://secwatch.observer/filing/0001437749-24-003647.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1029744/000143774924003647/0001437749-24-003647-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1029744/000143774924003647/sofo20240209_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-06T04:39:38.511274+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"387aeae7eb4894261976877c20f62ce56bae3024","claim":"SONIC FOUNDRY INC completed a disposition involving Enghouse Systems Limited for $15.5 million (closed 2024-02-09).","evidence_excerpt":"16, 2024 (the “Proxy Statement”). Pursuant to the Purchase Agreement, the Buyer has acquired the Mediasite business and assumed certain liabilities for a purchase price of $15.5 million, which the Company estimates will provide it with approximately $2.2 million in cash at closing after repayment the Company’s outstanding debt to Neltjeberg Bay Enterprises, LLC,","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1029744/000143774924003647/0001437749-24-003647-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"disposition"},{"label":"Counterparty","value":"Enghouse Systems Limited"},{"label":"Consideration","value":"$15.5 million"},{"label":"Closing","value":"2024-02-09"}],"fact_type":"ma_transaction"},{"claim_id":"31935181d6d77897a334b938be75773067decc20","claim":"SONIC FOUNDRY INC shareholders approved Mediasite Asset Sale Proposal: approve the Purchase Agreement, the sale of the Mediasite business and the other transactions contemplated by the Purchase Agreement at the 2024-02-06 meeting.","evidence_excerpt":"The stockholders voted to approve the Purchase Agreement, the sale of the Mediasite business as contemplated by the Purchase Agreement and the other transactions contemplated by the Purchase Agreement.","evidence_source":"SEC 8-K Item 5.07","evidence_url":"https://www.sec.gov/Archives/edgar/data/1029744/000143774924003647/0001437749-24-003647-index.htm","confidence":0.9,"family_label":"Shareholder Votes","details":[{"label":"Proposal","value":"merger approval"},{"label":"Outcome","value":"passed"},{"label":"Meeting","value":"2024-02-06"}],"fact_type":"shareholder_vote"},{"claim_id":"98b3ce3b69d73b713db8a969dda899f645824814","claim":"SONIC FOUNDRY INC shareholders approved Advisory Compensation Proposal: a non-binding, advisory proposal to approve compensation that will or may become payable to the Company’s named executive officers in connection with the Mediasite Asset Sale at the 2024-02-06 meeting.","evidence_excerpt":"The stockholders voted to approve a non-binding, advisory proposal to approve compensation that will or may become payable to the Company’s named executive officers in connection with the Mediasite Asset Sale.","evidence_source":"SEC 8-K Item 5.07","evidence_url":"https://www.sec.gov/Archives/edgar/data/1029744/000143774924003647/0001437749-24-003647-index.htm","confidence":0.9,"family_label":"Shareholder Votes","details":[{"label":"Proposal","value":"say on pay"},{"label":"Outcome","value":"passed"},{"label":"Meeting","value":"2024-02-06"}],"fact_type":"shareholder_vote"},{"claim_id":"c2dbd52272a3cd045e068981019158c643561c9d","claim":"SONIC FOUNDRY INC shareholders approved Adjournment Proposal: approve the adjournment of the Special Meeting at the 2024-02-06 meeting.","evidence_excerpt":"The shareholders voted in favor of approving the adjournment of the Special Meeting.","evidence_source":"SEC 8-K Item 5.07","evidence_url":"https://www.sec.gov/Archives/edgar/data/1029744/000143774924003647/0001437749-24-003647-index.htm","confidence":0.9,"family_label":"Shareholder Votes","details":[{"label":"Outcome","value":"passed"},{"label":"Meeting","value":"2024-02-06"}],"fact_type":"shareholder_vote"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}