8-K filed today.
Item 8.01. Other Events
On November 21, 2013, Cambridge Information Group I LLC and an affiliated entity (collectively, "CIG") exercised warrants (the "Warrants") to purchase 1 million shares of common stock ("Common Stock") of Blucora, Inc. (the "Company") for an aggregate exercise price of $9.62 million. The Warrants were originally issued to CIG by the Company on August 23, 2011, as part of a series of agreements that were entered into between CIG and the Company on that date. In addition, on November 20, 2013, CIG sold 1,006,093 shares of the Company's Common Stock that had been previously acquired by CIG in market transactions in 2010 and 2011. Andrew M. Snyder, the Chief Executive Officer of CIG, is a member of the Company's Board of Directors. These transactions have also been reported on a Form 4 filed with the Securities and Exchange Commission on November 21, 2013.
Following the completion of the Warrant exercise and the stock sale, Mr. Snyder and CIG continue to be among the Company's largest stockholders and beneficially own approximately 2.0 million shares of Common Stock, or approximately 4.7% of the Company's outstanding shares. Mr. Snyder and CIG have informed the Company that they do not have any current intention to sell or transfer additional shares of the Company's Common Stock, other than a planned charitable donation of 200,000 shares of Common Stock to a charitable trust, which is expected to occur prior to the end of the calendar year. Mr. Snyder will continue to serve on the Company's Board of Directors and will maintain his roles as Chair of the Mergers and Acquisitions Committee and Chair of the Nominating and Governance Committee. |
