Form 8-K · Current Report · Filed 2024-04-15
SilverSun Amends Investment Agreement with Jacobs PE, Adjusts Executive Compensation, and Secures Stockholder Support
SilverSun Technologies, Inc. has amended its Investment Agreement with Jacobs Private Equity II, LLC. Key changes include the cancellation of a planned spin-off, an increased cash dividend of $17,400,000 to legacy stockholders, and retention of the company's existing business. Additionally, CEO Mark Meller has entered into an amended letter agreement and an offer letter, resulting in the termination of his existing employment agreement and a new role as President with a higher salary and additional benefits. The company has also entered into a voting and support agreement with certain stockholders to support the amended Investment Agreement and related transactions. The amended Investment Agreement includes unregistered sales of equity securities to accredited investors under Rule 4(a)(2) of the Securities Act of 1933.
- Filer
- Qxo Inc. QXO · NYSE
- Filed
- Accession
- 0001213900-24-032760
- CIK
- 0001236275
- Signal
- High impactTechnology
- Source
- Official filing on sec.gov ↗
Items reported
Entry into a Material Definitive Agreement
Unregistered Sales of Equity Securities
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Financial Statements and Exhibits
Precedent
Previous filings from QXO reporting the same item, with the next session's move:
Exhibits (4)
About Qxo Inc.
Qxo Inc. is a company engaged in the innovative technology sector, specializing in developing software solutions that enhance business processes for small and medium enterprises (SMEs). It provides integrated platforms designed to streamline customer relationship management, inventory control, and financial reporting, all vital components for driving operational efficiency. Qxo Inc.'s products are particularly impactful in industries such as retail, healthcare, and professional services, offering scalability and customization tailored to specific client needs. The company's comprehensive approach ensures that businesses can leverage data analytics for strategic planning and decision-making. Headquartered in a technology hub, Qxo Inc. plays a significant role in the digital transformation landscape, continuously adapting to advancements and market demand. Its focus on user-friendly interfaces and seamless integration with existing systems positions Qxo Inc. as a crucial partner for enterprises aiming to leverage technology for growth and competitiveness in modern markets.
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