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) June 11,
2021
AutoWeb, Inc.
(Exact name of registrant as specified in its charter)
Delaware
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1-34761
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33-0711569
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(State
or other jurisdiction of incorporation)
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(Commission
File Number)
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(IRS
Employer Identification No.)
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400 North Ashley Drive, Suite 300
Tampa, Florida 33602-4314
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(Address
of principal executive offices) (Zip Code)
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(949) 225-4500
Registrant’s
telephone number, including area code
________________
(Former
name or former address, if changed since last report.)
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:
☐
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Written
communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
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☐
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the
Act:
Title of each class
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Trading Symbol
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Name of each exchange on which registered
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Common Stock, par value $0.001 per share
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AUTO
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The Nasdaq Capital Market
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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
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☐
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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.
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Item 8.01.
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Other Events.
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On May
28, 2021, AutoWeb, Inc., a Delaware corporation
(“AutoWeb”),
previously reported that Dealer Direct, LLC dba FordDirect
(“FordDirect”)
has decided to suspend its new vehicle leads marketing program and
terminate the new vehicle leads portion of the Lead Agreement dated
December 1, 2020, between AutoWeb and FordDirect
(“Lead
Agreement”), effective September 30,
2021.
On June
11, 2021, the parties agreed to amend the Lead Agreement to provide
for an early termination of the new vehicle leads portion of the
Lead Agreement, with the early termination to be effective June 30,
2021, in exchange for a lump sum payment of approximately $0.5
million from FordDirect to AutoWeb. This early termination
payment was derived based on an estimated gross profit for the
estimated number of valid new vehicle leads that would have been
delivered by AutoWeb to FordDirect during the original termination
period.
SIGNATURES
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.
Date:
June 16, 2021
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AUTOWEB,
INC.
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By:
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/s/Glenn E. Fuller
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Glenn
E. Fuller,
Executive
Vice President, Chief Legal Officer and Secretary
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