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): | February 25, 2016 |
IDI, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)
| Delaware | 333-158336 | 77-0688094 |
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_____________________ (State or other jurisdiction |
_____________ (Commission |
______________ (I.R.S. Employer |
| of incorporation) | File Number) | Identification No.) |
| 2650 North Military Trail, Suite 300, Boca Raton, Florida | 33431 | |
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_________________________________ (Address of principal executive offices) |
___________ (Zip Code) |
| Registrant’s telephone number, including area code: | 561-757-4000 |
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 obligation of the registrant under any of the following provisions:
[ ] 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))
Item 2.01. Completion of Acquisition or Disposition of Assets.
Termination of At-the Market Issuance Sales Agreement
On February 25, 2016, IDI, Inc. (“IDI”) notified JonesTrading Institutional Services LLC (the “Agent”) that it was exercising its right to terminate that certain Capital on DemandTM Sales Agreement (the “Sales Agreement”) between IDI and Agent, which termination shall be effective ten (10) days following the notice date of termination, on Monday, March 7, 2016. A copy of a press release regarding IDI’s termination of the Sales Agreement is attached hereto as Exhibit 99.1 to this report and is incorporated by reference.
Item 9.01 Financial Statements and Exhibits.
Item 9.01 Financial Statements and Exhibits.
99.1 Press Release of IDI, Inc. dated February 26, 2016.
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.
| IDI, Inc. | ||||
| February 29, 2016 | By: |
/s/ Derek Dubner
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| Name: Derek Dubner | ||||
| Title: Co-CEO | ||||
Exhibit Index
| Exhibit No. | Description | |
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99.1
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Press Release dated February 26, 2016 |
Exhibit 99.1
IDI, Inc. Terminates At-The-Market Sales Agreement
Data and analytics company terminates At-The-Market Sales Agreement, citing positive cash flow, strong current cash position, and lack of current cash needs.
BOCA RATON, Fla.—February 26, 2016—IDI, Inc. (NYSE MKT: IDI), a data and analytics company, today announced that it has elected to terminate that certain Capital on DemandTM Sales Agreement dated as of January 15, 2016 between IDI and JonesTrading Institutional Services LLC, citing a lack of need for outside cash due to IDI’s ongoing positive cash flow and strong current cash position. IDI did not sell any shares of common stock pursuant to the Capital on Demand™ Sales Agreement.
About IDI, Inc.
At IDI, we believe that time is your most valuable asset. Through powerful analytics, we transform
data into intelligence, in a fast and efficient manner, so that our clients can spend their time on
what matters most – running their organizations with confidence. Through leading-edge, proprietary
technology and a massive data repository, our data and analytical solutions harness the power of
data fusion, uncovering the relevance of disparate data points and converting them into
comprehensive and insightful views of people, businesses, assets and their interrelationships. We
empower clients across markets and industries to better execute all aspects of their business, from
managing risk, conducting investigations, identifying fraud and abuse, and collecting debts, to
identifying and acquiring new customers. At IDI, we are dedicated to making the world a safer
place, to reducing the cost of doing business, and to enhancing the consumer experience.
RELATED LINKS: www.ididata.com
FORWARD-LOOKING STATEMENTS
This press release contains “forward-looking statements,” as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as “expects,” “plans,” “projects,” “will,” “may,” “anticipate,” “believes,” “should,” “intends,” “estimates,” and other words of similar meaning. Such forward looking statements include statements about our anticipated operating cash flow, as well as other non-historical statements about our expectations, beliefs or intentions regarding our business, technologies and products, financial condition, strategies or prospects. Readers are cautioned not to place undue reliance on these forward-looking statements, which are based on our expectations as of the date of this press release and speak only as of the date of this press release. Readers are further advised to consider the risk factors under the heading “Forward-Looking Statements” and “Risk Factors” in the Company’s Annual Report on Form 10-K, as may be supplemented or amended by the Company’s Quarterly Reports on Form 10-Q and other SEC filings. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Contact Information:
IDI, Inc.
Jordyn Kopin
Director, Investor Relations
561-757-4000
jkopin@ididata.com