Immersion Corp 8-K, filed Jan 27, 2020
Immersion Corp (IMMR)
8-K
2020-01-27
For: 2020-01-27
View Original
Added on
April 08, 2026
About this 8-K
Immersion Corp filed this 8-K on January 27, 2020.
Items reported
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
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
January 27, 2020
Date of Report (Date of earliest event reported)
__________________________
IMMERSION CORPORATION
(Exact name of Registrant as specified in its charter)
__________________________
Delaware | 000-27969 | 94-3180138 | ||
(State or other jurisdiction of incorporation) | (Commission file number) | (I.R.S. Employer Identification No.) | ||
50 Rio Robles, San Jose, CA | 95134 | |
(Address of principal executive offices) | (Zip Code) | |
(408) 467-1900
(Registrant’s telephone number, including area code)
Not Applicable
(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 240.14a-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)) 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. ¨ |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
Common Stock, $0.001 par value per share | IMMR | The NASDAQ Global Select Market |
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.
A copy of the press release issued by Immersion Corporation (the “Company”) on January 27, 2020 relating to the Company’s repurchase of shares of its common stock.
Item 9.01 Financial Statements and Exhibits.
(d) | Exhibits. |
Exhibit No. | Description | |
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.
IMMERSION CORPORATION | ||||||
Date: | January 27, 2020 | By: | /s/ MIKE OKADA | |||
Name: Mike Okada | ||||||
Title: General Counsel | ||||||
Exhibit 99.1
Immersion Provides Update on Stock Repurchases
SAN JOSE, Calif., January 27, 2020 -- Immersion Corporation (NASDAQ: IMMR), the leading developer and licensor of touch feedback technology, today announced that during December 2019 through January 24, 2020, it repurchased 578,915 shares of common stock for an aggregate purchase price of $4,201,905. Such purchases were made under its previously-approved repurchase program, under which approximately $29.2 million of the Company’s common stock may yet be purchased.
“As we noted last year, Immersion reached a key inflection point in the third quarter of 2019 by attaining break-even net income on a non-GAAP basis and continues to focus on further improving profitability by right-sizing operations. The share repurchases reflect continued confidence in the new strategic initiatives announced by Immersion during its Investor Day in November 2019,” stated Ramzi Haidamus, CEO.
“In line with our new strategic plan, and given the company’s strategic and operational progress, and our strong balance sheet, the board believes repurchasing shares at the right price is a prudent use of capital. This ongoing share repurchase program highlights our commitment to enhancing shareholder value,” said Sharon Holt, Chairman of the Board.
About Immersion
Immersion Corporation (NASDAQ: IMMR) is the leading innovator of touch feedback technology, also known as haptics. The company provides technology solutions for creating immersive and realistic experiences that enhance digital interactions by engaging users’ sense of touch. Immersion's technology has been adopted in more than 3 billion digital devices, and provides haptics in mobile, automotive, gaming, medical and consumer electronics products. Immersion is headquartered in San Jose, California with offices worldwide. Learn more at www.immersion.com.
Forward-looking Statements
This press release contains "forward-looking statements" that involve risks and uncertainties, as well as assumptions that, if they never materialize or prove incorrect, could cause the results of Immersion Corporation and its consolidated subsidiaries to differ materially from those expressed or implied by such forward-looking statements.
All statements, other than the statements of historical fact, are statements that may be deemed forward-looking statements, including the statement that we continue to focus on further improving profitability by right-sizing operations.
Immersion's actual results might differ materially from those stated or implied by such forward-looking statements due to risks and uncertainties associated with Immersion's business, which include, but are not limited to: unanticipated difficulties and challenges encountered in product development efforts (including with respect to Immersion’s touch feedback technology) by Immersion and its licensees; unanticipated difficulties and challenges encountered in implementation efforts by Immersion's licensees; unanticipated changes in the markets in which Immersion operates; adverse outcomes in any future intellectual property-related litigation and the costs related thereto; the effects of the current macroeconomic climate; delay in or failure to achieve adoption of or commercial demand for Immersion's products or third party products incorporating Immersion's technologies; and a delay in or failure to achieve the acceptance of touch feedback as a critical user experience. Many of these risks and uncertainties are beyond the control of Immersion.
For a more detailed discussion of these factors, and other factors that could cause actual results to vary materially, interested parties should review the risk factors listed in Immersion's most current Form 10-K, and Form 10-Q, both of which are on file with the U.S. Securities and Exchange Commission. The forward-looking statements in this press release reflect Immersion's beliefs and predictions as of the date of this release. Immersion disclaims any obligation to update these forward-looking statements as a result of financial, business, or any other developments occurring after the date of this release.
Immersion and the Immersion logo are trademarks of Immersion Corporation in the United States and other countries. All other trademarks are the property of their respective owners.
(IMMR - C)
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Contacts
Media Inquiries:
Immersion
Linda Quach, +1-408-350-8832
lquach@immersion.com
or
Investor Inquiries:
The Blueshirt Group
Jennifer Jarman, +1-415-217-5866
jennifer@blueshirtgroup.com