0001029744-20-000018.txt : 20200305 0001029744-20-000018.hdr.sgml : 20200305 20200305161708 ACCESSION NUMBER: 0001029744-20-000018 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20200303 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20200305 DATE AS OF CHANGE: 20200305 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SONIC FOUNDRY INC CENTRAL INDEX KEY: 0001029744 STANDARD INDUSTRIAL CLASSIFICATION: RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663] IRS NUMBER: 391783372 STATE OF INCORPORATION: MD FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-30407 FILM NUMBER: 20691018 BUSINESS ADDRESS: STREET 1: 222 W. WASHINGTON AVENUE CITY: MADISON STATE: WI ZIP: 53703 BUSINESS PHONE: 6084431600 MAIL ADDRESS: STREET 1: 222 W. WASHINGTON AVENUE CITY: MADISON STATE: WI ZIP: 53703 8-K 1 a35208k.htm 8-K Document


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

March 5, 2020 (March 3, 2020)
Date of Report (Date of earliest event reported)
 
Sonic Foundry, Inc.
(Exact name of registrant as specified in its charter)
 
Maryland
(State or other jurisdiction
of incorporation)
 
000-30407
(Commission
File Number)
 
39-1783372
(IRS Employer
Identification No.)

222 W. Washington Ave
Madison, WI 53703
(Address of principal executive offices)
(608) 443-1600
(Registrant's telephone number)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
 
 
¨
 
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
 
 
¨
 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
 
 
¨
 
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 

Item 8.01 Other Events.

On March 5, 2020, Sonic Foundry, Inc. reported that its Special Committee of Independent and Disinterested Directors has retained Silverwood Partners LLC to evaluate strategic alternatives. See attached press release at exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.

(a)
Exhibits

99.1
Text of press release dated March 5, 2020.
 
 
 




EXHIBIT LIST
 

NUMBER DESCRIPTION



SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
 
Sonic Foundry, Inc.
(Registrant)
 
 
March 5, 2020        
 
 
 
By:
 
/s/ Kenneth A. Minor
By:
 
Kenneth A. Minor
Title:
 
Interim Chief Financial Officer
 
 
 



 EX-99.1 2 a3520pressrelease.htm EXHIBIT 99.1 Exhibit


Sonic Foundry Retains Investment Banking Firm Silverwood Partners to Evaluate Strategic Alternatives for Company

MADISON, Wis.-- March 5, 2020 -- Sonic Foundry, Inc. (OTC Pink Sheets: SOFO) ("Sonic Foundry" or the "Company") announced today that its Special Committee of Independent and Disinterested Directors (“Special Committee”) has retained Silverwood Partners LLC, a Boston-based investment banking firm specializing in digital media technology, to evaluate strategic alternatives for Sonic Foundry and its Mediasite video streaming and video management solutions business (“Mediasite”). For more information, please contact Jonathan Hodson-Walker, Managing Partner at 508-651-2194 or by email at jhw@silverwoodpartners.com.

"Mediasite is a market leader in the development of industry-leading solutions for the capture and streaming of video over enterprise, broadband and mobile networks," stated David Slayton and Nelson Murphy, members of the Special Committee. "In order to take full advantage of the market opportunity and maximize Mediasite’s business potential, we plan to review the full range of strategic alternatives that better position Mediasite for a new phase of growth and that realize the full value of Mediasite for the benefit of Sonic Foundry’s shareholders."

Silverwood Partners is a specialized investment bank that provides mergers & acquisitions and growth equity private placement advisory services to media technology, consumer products, business services and healthcare companies.

About Sonic Foundry®, Inc.
Sonic Foundry (OTC Pink Sheets: SOFO) is the global leader for video capture, management and streaming solutions. Trusted by more than 4,900 educational institutions, corporations, health organizations and government entities in over 65 countries, its Mediasite Video Platform quickly and cost-effectively automates the capture, management, delivery and search of live and on-demand streaming videos. Learn more at www.mediasite.com and @mediasite.

© 2020 Sonic Foundry, Inc. Product and service names mentioned herein are the trademarks of Sonic Foundry, Inc. or their respective owners.

Media Relations:
Nicole Wise, Director of Communications
920.226.0269
nicolew@sonicfoundry.com