Subsequent Events

3 Months Ended

Sep. 30, 2020

Subsequent Events

Subsequent Events

15.          Subsequent Events

Spartacus initial public offering (“IPO”)

On October 19, 2020, the Company’s affiliate, Spartacus Acquisition Corporation (“Spartacus”) completed its IPO. In connection with the IPO, Spartacus Sponsor LLC, of which the Company is a Managing Member and holds 50% voting control, purchased 8,104,244 warrants at a price of $1.00 per warrant. Each warrant is exercisable into one share of Spartacus’ Class A common stock at a price of $11.50 per share. Spartacus is a newly organized blank-check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses, which is referred to as an initial business combination.

Amendment to Amended Management Agreement

On October 15, 2020, the Company amended the Management Agreement to align the Performance Fee, as that term is defined in the Management Agreement, with the Company’s fiscal year, as opposed to the calendar year

Termination of New York office lease agreement

On October 30, 2020, the Company terminated its New York office lease agreement (See Note 13). In connection with the termination agreement, the Company agreed to forfeit its security deposit of $46,000.