Red Violet, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Red Violet, Inc. (RDVT) on November 19, 2021. The report details the entry into a material definitive agreement for a registered direct offering of common stock.
Key Financial Metrics
- Gross Proceeds: $21,010,770
- Net Proceeds: Approximately $20,945,000 (after estimated offering expenses)
- Shares Issued: 552,915 shares of common stock
- Price Per Share: $38.00
- Use of Proceeds: Working capital, general corporate purposes, or potential future transactions
The filing does not provide specific data on revenue, profit, cash flow, margins, debt, or liquidity positions for the reporting period.
Material Changes
The primary material change is the capital raise via the registered direct offering. The company upsized its available securities under an existing Form S-3 registration by the maximum allowable 20%, representing an additional $3,501,800 of common stock eligible for sale.
Outlook and Management Commentary
Management intends to utilize the net proceeds for working capital and general corporate purposes. The offering was conducted without an investment banker. The transaction is expected to close on or before November 23, 2021, subject to customary closing conditions. No specific forward-looking guidance or risk factors beyond standard closing conditions are detailed in this specific filing.
Investor Verification Checklist
- Verify the closing of the offering on or before November 23, 2021.
- Confirm the final net proceeds after actual offering expenses are deducted.
- Review the full Securities Purchase Agreement (Exhibit 10.1) for specific covenants or restrictions.
- Monitor subsequent filings for the actual deployment of the raised capital.