8-K 1 d8k.htm FORM 8-K Form 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant To Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report: June 30, 2010

(Date of earliest event reported)

 

 

MOTRICITY, INC.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   001-34781   20-1059798

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

601 108th Avenue Northeast, Suite 800

Bellevue, Washington 98004

(Address of principal executive offices and zip code)

(425) 957-6200

(Registrant’s telephone number, including area code)

 

 

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 (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))

 

¨ 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))

 

 

 


MOTRICITY, INC.

FORM 8-K

 

Item 1.01 Entry into a Material Definitive Agreement

On June 30, 2010, Motricity, Inc. (the “Company”), entered into an amendment (the “Amendment”) to its existing WAP 2.0 Hosting Agreement (the “Agreement”), dated June 24, 2004, as subsequently amended, with Cellco Partnership d/b/a Verizon Wireless, a Delaware general partnership (“Verizon Wireless”).

The Amendment, among other things, extended the term of the Agreement to June 30, 2012. After such date, Verizon Wireless may extend the term for up to two additional one year terms, which extension shall occur automatically unless Verizon provides notice of intent not to renew at least ninety days prior to the end of the then-current term. After June 30, 2014, the term shall be automatically renewed for successive one year periods unless either party provides written notice of termination. The Amendment also revised certain commercial terms of the Agreement for providing and hosting the portal and for device profiling, editorial, search and advertising integration and other mobile services and their related fees. The Company believes the economic terms of the Agreement are improved by the Amendment. The termination provisions of the Agreement were not altered. The Agreement was filed as Exhibit 10.5 to the Company’s amended Registration Statement on Form S-1 filed on June 2, 2010 with the Securities and Exchange Commission.

Forward-looking statements:

This current report on Form 8-K contains certain statements, including the statement regarding the Company’s belief regarding economic terms of the Agreement, that are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. Although the Company believes that the assumptions on which the forward-looking statements contained herein are based are reasonable, any of those assumptions could prove to be inaccurate given the inherent uncertainties as to the occurrence or non-occurrence of future events. There can be no assurance that the forward-looking statements contained herein will prove to be accurate. The Company undertakes no obligation to update forward-looking statements, whether as a result of new information, future events or otherwise. The following uncertainties and factors, among others, could affect the Company’s future performance and cause actual results to differ materially from those expressed or implied by forward-looking statements: (i) the number of users accessing the Company’s services; (ii) the Company’s expectations regarding the Company’s revenues, expenses and operations and the Company’s ability to achieve and sustain profitability; (iii) the Company’s anticipated cash needs and the Company’s estimates regarding the Company’s capital requirements; (iv) the Company’s ability to expand the Company’s customer base and relationships with wireless carriers and content and application providers; (v) the Company’s ability to expand its service offerings; (vi) the Company’s anticipated growth strategies and the Company’s sources of new revenues; (vii) unanticipated trends and challenges in the Company’s business and the markets in which the Company operates; and (viii) the Company’s ability to recruit and retain qualified employees and staff the Company’s operations appropriately.


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 hereunto duly authorized.

 

   

MOTRICITY, INC.

(Registrant)

July 6, 2010     By:  

/s/ Allyn P. Hebner

      (Date)      

Chief Financial Officer

(Principal Financial Officer and

Principal Accounting Officer)