Network 1 Technologies : Material Event - Form 8-K
August 25, 2022 at 06:21 pm
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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): August 24, 2022
Network-1 Technologies, Inc.
(Exact name of registrant as specified in its charter)
Delaware
001-15288
11-3027591
(State or Other Jurisdiction
(Commission
(I.R.S. Employer
of Incorporation)
File Number)
Identification No.)
65 Locust Avenue, Third Floor, New Canaan, Connecticut06840
(Address of Principal Executive Offices) (Zip Code)
(203)920-1055
(Registrant's telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
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, par value $0.01 per share
NTIP
NYSE American
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))
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 August 24, 2022, ILiAD Biotechnologies LLC ("ILiAD") completed a private financing of $42,836,000 of Class D units, of which a multi-national pharmaceutical company invested $30,000,000 (the "Financing"). As part of the Financing, Network-1 Technologies, Inc. (the "Company") invested $1,000,000 and its convertible note in the principal amount of $1,000,000 plus accrued interest, in accordance with its terms, converted into units of ILiAD. Since December 2018, the Company has invested an aggregate of approximately $7,000,000 in ILiAD. ILiAD is a clinical stage biotechnology company dedicated to the prevention and treatment of human disease caused by Bordetella pertussis and is developing technologies that focus on validating its proprietary intranasal vaccine (BPZE1) for the prevention of pertussis (whooping cough).
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SIGNATURE
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.
NETWORK-1 TECHNOLOGIES, INC.
Dated August 25, 2022
By:
/s/ Corey M. Horowitz
Name: Corey M. Horowitz
Title: Chairman & Chief Executive Officer
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Network 1 Technologies Inc. published this content on 25 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 August 2022 22:20:07 UTC.
Network-1 Technologies, Inc. is engaged in the development, licensing and protection of its intellectual property and proprietary technologies. The Company works with inventors and patent owners to assist in the development and monetization of their patented technologies. It owns 100 United States patents covering various telecommunications and data networking technologies, as well as technologies relating to document stream operating systems, the identification of media content and high frequency trading. It also owns 15 foreign patents relating to patents within its Cox Patent Portfolio, M2M/IoT Patent Portfolio, HFT Patent Portfolio, Mirror World Patent Portfolio and its Remote Power Patent. Its Cox Patent Portfolio consists of 39 United States patents relating to enabling technology for identifying media content on the Internet, such as audio and video, and taking further actions to be performed based on such identification.