8-K
GLOBAL INDUSTRIAL Co (GIC)
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): December 8, 2020
| Systemax Inc. | ||||
|---|---|---|---|---|
| (Exact Name of Registrant as Specified in its Charter) | Delaware | 1-13792 | 11-3262067 | |
| --- | --- | --- | ||
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||
| 11 Harbor Park Drive, Port Washington, New York | 11050 | |||
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code: (516) 608-7000
| 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 obligations 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 under the Exchange Act (17 CFR 240.14-12) | | --- | --- || ☐ | 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 CRF 240.13e-4(c)) | | --- | --- |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading<br> Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock ($.01 par value) | SYX | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 8.01 | Other Events |
|---|
On December 8, 2020, Systemax Inc. (the "Company") issued a press release announcing a the declaration of a special dividend of $2.00 per share payable to common stock shareholders of record at the close of business on December 18, 2020, payable on December 28, 2020.
The information in this Current Report on Form 8-K and the Exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.
| Item 9.01. | Financial Statements and Exhibits. |
|---|
The following exhibit relating to Item 8.01 shall be deemed to be furnished, and not filed:
| Exhibit<br>Number | Description |
|---|---|
| 99.1 | Press Release of Systemax Inc., dated December 8, 2020. |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL). |
Exhibit Index
| 99.1 | Press Release of Systemax Inc., dated December 8, 2020. |
|---|---|
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL). |
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.
| SYSTEMAX INC. | ||
|---|---|---|
| Date: December 8, 2020 | ||
| By: | /s/ Eric Lerner | |
| Name: Eric Lerner | ||
| Title: Senior Vice President |
Document
Exhibit 99.1
Systemax Declares $2.00 Per Share Special Dividend
PORT WASHINGTON, NY, December 8, 2020 – Systemax Inc. (NYSE: SYX), today announced that its Board of Directors has declared a special cash dividend of $2.00 per share to shareholders of the company’s common stock. The special dividend will be payable on December 28, 2020 to shareholders of record as of the close of business on December 18, 2020. A portion of this distribution may be considered a return of capital for tax purposes. Additional information regarding return of capital distributions are expected to be made available at Systemax’s investor relations website in early 2021.
Richard Leeds, Executive Chairman, said, “With this special dividend, our fourth in four years, we will have paid to shareholders almost $500 million in dividends since 2018. Our strong balance sheet, continued cash generation, and business momentum provide significant flexibility to execute our strategic plan, invest in our future growth, and to fund our regular quarterly dividend.”
About Systemax Inc.
Systemax Inc. (www.systemax.com), through its operating subsidiaries, is a provider of industrial products in North America going to market through a system of branded e-Commerce websites and relationship marketers. The primary brand is Global Industrial.
Investor/Media Contact:
Mike Smargiassi/ Ryan Golden
The Plunkett Group
212-739-6740
mike@theplunkettgroup.com/ ryan@theplunkettgroup.com