SIEB 8-K
Siebert Financial Corp (SIEB)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Securities Exchange Act of 1934
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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):
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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
Siebert Financial Corp. (the “Company”) is party to an agreement with a technology provider for technology development related to the Company’s online retail platforms with a term lapsing in the first quarter of 2023. On September 26, 2022, the Company and the technology provider mutually agreed to terminate the services being provided thereunder approximately six months early. Following September 26, 2022, neither the Company nor the vendor will have further obligations under the original agreement. The vendor will also return 193,906 shares of the Company’s common stock previously issued to the vendor and make a payment of $950,000 to the Company.
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 thereunto duly authorized.
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Dated: September 30, 2022 |
SIEBERT FINANCIAL CORP. | |||
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/s/ Andrew H. Reich | |||
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Andrew H. Reich | ||||
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Executive Vice President, Chief Operating | ||||
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Officer, Chief Financial Officer, Secretary | ||||
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and Director (Principal executive, financial | ||||
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and accounting officer) | ||||