Item 1.02 Termination of a Material Definitive Agreement.
On January 26, 2023, Verb Technology Company, Inc., a Nevada corporation (the
"Company"), terminated that certain common stock purchase agreement dated
January 12, 2022, entered into with Tumim Stone Capital LLC, which provided for
the sale by the Company of up to $50,000,000 of newly issued shares from time to
time during the term of the agreement.
Effective January 26, 2023, the Company repaid in full all of its outstanding
obligations under that certain securities purchase agreement dated January 12,
2022 entered into with three institutional investors (the "SPA") which provided
for the sale and issuance of an aggregate original principal amount of
$6,300,000 in convertible notes due 2023. The convertible notes were repaid in
full in cash prior to any conversions.
On January 26, 2023, the Company issued a press release announcing that
repayment of its obligations under the SPA. A copy of the press release is
attached hereto as Exhibit 99.1.
Item 9.01 Financial Statement and Exhibits.
(d) Exhibits.
Exhibit
No. Description
99.1 Press Release dated January 26, 2023
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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