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. on August 28, 2019. The filing reports the entry into a Material Definitive Agreement regarding a registered direct offering of common stock.
Key Financial Metrics
- Offering Size: 681,000 shares of common stock.
- Price Per Share: $11.00.
- Gross Proceeds: $7,491,000.
- Net Proceeds: Approximately $7,461,000 (after estimated offering expenses).
- Use of Proceeds: Accelerating market expansion via sales, product development, and marketing investments, plus working capital and general corporate purposes.
Note: This filing does not provide data on revenue, profit, cash flow, margins, debt, or liquidity metrics.
Material Changes
The primary material change is the execution of a securities purchase agreement with certain investors. The offering is expected to close on or before August 29, 2019, subject to customary closing conditions. The Company stated it has no intention of accessing additional funds under the associated Registration Statement on Form S-3.
Outlook, Risks, and Management Commentary
Management intends to utilize the net proceeds to accelerate market expansion. The filing incorporates by reference the Prospectus Supplement dated August 28, 2019, and the Registration Statement on Form S-3 (No. 333-233025) for full details on risks and contingencies. No specific risks or unusual items are detailed within the text of this 8-K summary.
Investor Verification Checklist
- Verify the closing of the offering on or before August 29, 2019.
- Review the full Securities Purchase Agreement (Exhibit 10.1) for specific investor terms and conditions.
- Confirm the final net proceeds after actual offering expenses are deducted.
- Check subsequent filings for the actual issuance of the 681,000 shares.