-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, IjTzUhWMOF4cB65YmJIHJ4PKS9zPkMXEPj6hGRkXyE6L6fpdTptWkFAP60Wv4ZtT 6TkK8qrQhaxu+IuSlRxwgw== 0001104659-07-087361.txt : 20071206 0001104659-07-087361.hdr.sgml : 20071206 20071206130735 ACCESSION NUMBER: 0001104659-07-087361 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20071130 ITEM INFORMATION: Completion of Acquisition or Disposition of Assets ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20071206 DATE AS OF CHANGE: 20071206 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INNERWORKINGS INC CENTRAL INDEX KEY: 0001350381 STANDARD INDUSTRIAL CLASSIFICATION: SERVICE INDUSTRIES FOR THE PRINTING TRADE [2790] IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-52170 FILM NUMBER: 071288832 BUSINESS ADDRESS: STREET 1: 600 WEST CHICAGO STREET 2: SUITE 750 CITY: CHICAGO STATE: IL ZIP: 60610 MAIL ADDRESS: STREET 1: 600 WEST CHICAGO STREET 2: SUITE 750 CITY: CHICAGO STATE: IL ZIP: 60610 8-K 1 a07-30779_18k.htm 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 (Date of earliest event reported):  November 30, 2007

 

 

INNERWORKINGS, INC.

(Exact name of registrant as specified in its charter)

 

 

Delaware

(State or other jurisdiction of incorporation)

 

000-52170

(Commission

File Number)

 

 

20-5997364

(I.R.S. Employer Identification No.)

 

 

 

600 West Chicago Avenue
Suite 850
Chicago, Illinois
(Address of principal executive offices)

 

 

60610

(Zip Code)

 

 

(312) 642-3700
(Registrant’s telephone number, including area code)

 

 

 

 


N/A

 

 

 

 

(Former name or former address, if changed since last report)

 

 

 

 

 

 

 

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:

 

o

 

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

 

 

 

o

 

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

 

 

 

o

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

 

 

o

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 



Item 2.01.              Completion of Acquisition or Disposition of Assets

                On November 30, 2007, InnerWorkings, Inc. (“InnerWorkings”) completed the acquisition of all of the outstanding shares of capital stock of Corporate Edge, Inc. (“Corporate Edge”) pursuant to the previously reported Stock Purchase Agreement (the “Purchase Agreement”) entered into on November 27, 2007 by InnerWorkings, Corporate Edge, Scott Levy (“Levy”), Stuart Weisenfeld (“Weisenfeld”) and Fred Moskowitz (“Moskowitz,” and together with Levy and Weisenfeld, the “Sellers”). The aggregate purchase price was approximately $33,175,000, subject to certain adjustments (the “Purchase Price”). Of the $33,175,000, $18,175,000 was paid at closing, subject to certain adjustments, up to $10,500,000 is to be paid upon the achievement of certain EBITDA targets by Corporate Edge in each of the three years following November 30, 2007, subject to certain adjustments, and up to $4,500,000 is to be paid upon the achievement of a cumulative EBITDA target by Corporate Edge over the three years following November 30, 2007, subject to certain adjustments. A portion of the $18,175,000 paid at closing was remitted to Corporate Edge’s lenders to repay all of Corporate Edge’s outstanding indebtedness and a portion was paid to the Sellers in the form of promissory notes issued by InnerWorkings. InnerWorkings funded the cash portion of the Purchase Price with available cash. The preceding is qualified in its entirety by reference to the Purchase Agreement, which is attached as Exhibit 2.1 to the Current Report on Form 8-K filed by InnerWorkings on November 27, 2007 and incorporated by reference into this Item 2.01.

Item 8.01.              Other Events

                On December 3, 2007, InnerWorkings issued a press release announcing the completion of the transactions contemplated by the Purchase Agreement. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.

Item 9.01.              Financial Statements and Exhibits

(a) Financial Statements of Businesses Acquired.

                No financial statements are filed herewith. InnerWorkings will file the required financial statements by amendment within the time period required by Item 9.01 of Form 8-K.

(b) Pro Forma Financial Information.

                No pro forma financial statements are filed herewith. InnerWorkings will file the required pro forma financial statements by amendment within the time period required by Item 9.01 of Form 8-K.

(d)          Exhibits:

Exhibit No.

 

Description

99.1

 

Press Release dated December 3, 2007.

 

2



 

SIGNATURES

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.

 

 

INNERWORKINGS, INC.

 

 

 

 

 

 

 

 

 

 

 

 

Dated: December 6, 2007

 

By:

/s/ Nicholas J. Galassi

 

 

Name:

Nicholas J. Galassi

 

 

Title:

Chief Financial Officer

 

3



Exhibit Index

Exhibit No.

 

Description

99.1

 

Press Release dated December 3, 2007.

 

4


EX-99.1 2 a07-30779_1ex99d1.htm EX-99.1

Exhibit 99.1

 

FOR IMMEDIATE RELEASE

 

CONTACT:

Mark Desky

(312) 604-5470

mdesky@iwprint.com

 

 

INNERWORKINGS, INC. COMPLETES ACQUISITION OF CORPORATE EDGE, INC.

 

 

Chicago, IL  December 3, 2007 - InnerWorkings, Inc. (NASDAQ: INWK), a leading provider of managed print solutions to corporate clients in the United States, announced today the completion of its acquisition of New York City-based Corporate Edge, Inc., a major national distributor of promotional products, on November 30, 2007. InnerWorkings announced the execution of a definitive agreement to acquire Corporate Edge on November 27, 2007.

 

About InnerWorkings, Inc.

Chicago-based InnerWorkings, Inc. (NASDAQ: INWK) is a leading provider of managed print solutions to corporate clients in the United States. With proprietary technology, an extensive supplier network and domain expertise, the Company procures, manages and delivers printed products as part of a comprehensive outsourced enterprise solution. Based in Chicago with numerous other offices in the United States, InnerWorkings procures printed products for clients across a wide range of industries, such as advertising, consumer products, publishing and retail. For more information on InnerWorkings, visit: www.iwprint.com.

 

About Corporate Edge, Inc.

New York City-based Corporate Edge, Inc. is a major national distributor of promotional products, which creates cutting-edge corporate business solutions for Fortune 500 clients. Corporate Edge offers an experienced team with creative expertise and tactical flexibility that delivers quality branded merchandise on time and on budget. For more information on Corporate Edge, visit: www.thecorporateedge.com.

 

 



 

Forward-Looking Statements

This release contains statements relating to future results.  These statements are forward-looking statements under the federal securities laws.  We can give no assurance that any future results discussed in these statements will be achieved.  Any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date.  These statements are subject to a variety of risks and uncertainties that could cause our actual results to differ materially from the statements contained in this release.  For a discussion of important factors that could affect our actual results, please refer to our SEC filings, including the “Risk Factors” section of the Form 10-K we filed with the SEC.

 

(inwk-g)

 

 


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