UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 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): April 21, 2020

 

FACEBANK GROUP, INC.

(Exact name of registrant as specified in its charter)

 

Florida   000-55353   26-4330545

(State or other jurisdiction of

incorporation or organization)

  (Commission
File Number)
  (I.R.S. Employer
Identification Number)

 

1115 Broadway, 12th Floor, New York, NY    10010
(Address of principal executive offices)    (Zip Code)

 

Registrant’s telephone number, including area code:    (212)-537-5775

 

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:

 

[  ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
[  ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
N/A   N/A   N/A

 

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 [  ]

 

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 pursuant to Section 13(a) of the Exchange Act.[  ]

 

 

 

 
 

 

Item 1.01 Entry into a Material Definitive Agreement

 

On April 21, 2020, FaceBank Group, Inc., a Florida corporation (“FaceBank”), entered into an amendment (the “Amendment”) to the Note Purchase Agreement, dated as of March 19, 2020 (the “Note Purchase Agreement”), by and among FaceBank, fuboTV Inc., a Delaware corporation (f/k/a FuboTV Acquisition Corp.) (“fuboTV”), Evolution AI Corporation (“Evolution”), a Florida corporation, Pulse Evolution Corporation, a Nevada corporation (“Pulse”, and collectively with FaceBank, fuboTV and Evolution, the “Borrower”), and FB Loan Series I, LLC (“FB Loan”), a Delaware limited liability company.

 

Pursuant to the Note Purchase Agreement, the Borrower agreed, among other things that (i) FaceBank shall file a registration statement with the U.S. Securities and Exchange Commission (the “Commission”) regarding the purchase and sale of 784,617 shares (the “Shares”) of FaceBank’s common stock, par value $0.0001 per share (the “Common Stock”) and any shares of capital stock issuable upon exercise of a warrant to purchase 3,269,231 shares of Common Stock (the “Warrant Shares”); and (ii) FaceBank shall have filed an application to list FaceBank’s Common Stock for trading on the NASDAQ exchange, on or before the date that is thirty (30) days following the closing date of the Note Purchase Agreement. Pursuant to the Amendment, the covenants set forth in (i) and (ii) above were replaced with the following:

 

(i) If FaceBank decides to register any of its securities either for its own account or the account of a security holder or holders on any registration form (other than Form S-4 or S-8), FaceBank shall include in such registration all of the Shares and the Warrant Shares (collectively, the “Registrable Securities” and such registration of the Registrable Securities, a “Piggyback Registration”); provided, however, that if a Piggyback Registration does not occur on or prior to May 25, 2020, FaceBank shall file a registration statement with the Commission to register the Registrable Securities and to permit or facilitate the sale and distribution of the Registrable Securities on or prior to May 25, 2020; and

 

(ii) FaceBank shall have initiated the process to list its capital stock for trading on a national exchange (e.g., NYSE or Nasdaq) on or before the date that is thirty (30) days following March 19, 2020.

 

The foregoing descriptions of the Amendment and the Note Purchase Agreement do not purport to be complete and are qualified in their entirety by reference to the full text of the Amendment and the Note Purchase Agreement, filed as Exhibit 10.1 and 10.2, respectively, and incorporated by reference into this Item 1.01.

 

Item 5.03 Amendment of Certificate of Incorporation

 

On April 23, 2020, the certificate of incorporation of fuboTV was amended and restated in its entirety to read as set forth in the Sixth Amended and Restated Certificate of Incorporation, filed as Exhibit 3.1 hereto and incorporated by reference into this Item 5.03.

 

Item 9.01 Financial Statements and Exhibits.

 

Exhibit No.   Description
3.1   Sixth Amended and Restated Certificate of Incorporation of fuboTV Inc.
10.1   Amendment to the Note Purchase Agreement dated as of March 19, 2020 by and among FaceBank Group, Inc., fuboTV Acquisition Corp., Evolution AI Corporation and Pulse Evolution Corporation,
10.2   Note Purchase Agreement dated as of March 19, 2020 by and among FaceBank Group, Inc., fuboTV Acquisition Corp., Evolution AI Corporation and Pulse Evolution Corporation, and FB Loan Series I, LLC (previously filed as Exhibit 10.4 to FaceBank’s current report on Form 8-K filed March 23, 2020)

 

 
 

 

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, thereunto duly authorized.

 

    FACEBANK GROUP, INC.
       
Date:  April 27, 2020   By /s/ David Gandler
    Name: David Gandler
    Title: Chief Executive Officer

 

 

 

 

Exhibit 3.1

 

SIXTH AMENDED AND RESTATED

CERTIFICATE OF INCORPORATION

OF

FUBOTV INC.

 

(Pursuant to Sections 242 and 245 of the
General Corporation Law of the State of Delaware)

 

fuboTV Inc., a corporation organized and existing under and by virtue of the provisions of the General Corporation Law of the State of Delaware (the “General Corporation Law”),

 

DOES HEREBY CERTIFY:

 

1. That the name of this corporation is fuboTV Inc., and that this corporation was originally incorporated pursuant to the General Corporation Law on March 4, 2014 under the name S.C. Networks, Inc.

 

2. That the Board of Directors of this corporation duly adopted resolutions proposing to amend and restate the Fifth Amended and Restated Certificate of Incorporation of this corporation, declaring said amendment and restatement to be advisable and in the best interests of this corporation and its stockholders, and authorizing the officers of this corporation to solicit the consent of the stockholders therefor, which resolution setting forth the proposed amendment and restatement is as follows:

 

RESOLVED, that the Fifth Amended and Restated Certificate of Incorporation of this corporation be amended and restated in its entirety to read as follows:

 

FIRST: The name of the corporation is fuboTV Inc. (hereinafter called the “Corporation”).

 

SECOND: The address of the registered office of the Corporation in the State of Delaware is 160 Greentree Drive, Suite 101, in the City of Dover, County of Kent, 19904. The name of the registered agent at such address is National Registered Agents, Inc.

 

THIRD: The nature of the business or purposes to be conducted or promoted is to engage in any lawful act or activity for which corporations may be organized under the General Corporation Law of the State of Delaware (the “General Corporation Law”).

 

FOURTH: The total number of shares which the Corporation shall have authority to issue is one thousand (1,000) shares of common stock, $0.0001 par value.

 

FIFTH: A Director of the Corporation shall not be liable to the Corporation or its stockholders for monetary damages for breach of fiduciary duty as a Director of the Corporation, except to the extent that exculpation from liability is not permitted under the General Corporation Law of the State of Delaware as in effect at the time such liability is determined. Any repeal or modification of the foregoing provisions of this Article Fifth by the stockholders of the Corporation shall not adversely affect any right or protection of a Director of the Corporation existing at the time of, or increase the liability of any Director of the Corporation with respect to, any acts or omissions of such director occurring prior to, such repeal or modification.

 

 
 

 

SIXTH: In furtherance and not in imitation of the powers conferred by statute, the Board of Directors of the Corporation is expressly authorized to make, alter or repeal the By-Laws of the Corporation; provided, however, that no By-Laws hereafter adopted by the Board of Directors or stockholders shall invalidate any prior act of the Directors which would have been valid if such By-Laws had not been adopted.

 

SEVENTH: The Corporation shall, to the maximum extent permitted from time to time under the law of the State of Delaware, indemnify and upon request advance expenses to any person who is or was a party or is threatened to be made a party to any threatened, pending or completed action, suit, proceeding or claim, whether civil, criminal, administrative or investigative, by reason of the fact that such person is or was or has agreed to be a Director or officer of the Corporation or while a Director or officer is or was serving at the request of the Corporation as a director, officer, partner, trustee, employee or agent of any corporation, partnership, joint venture, trust or other enterprise, including service with respect to employee benefit plans, against expenses (including attorneys’ fees and expenses), judgments, fines, penalties and amounts paid in settlement incurred (and not otherwise recovered) in connection with the investigation, preparation to defend or defense of such action, suit, proceeding or claim; provided, however, that the foregoing shall not require the Corporation to indemnify or advance expenses to any person in connection with any action, suit, proceeding, claim or counterclaim initiated by or on behalf of such person. Such indemnification shall not be exclusive of other indemnification rights arising under any By-Law, agreement, vote of Directors or stockholders or otherwise and shall inure to the benefits of the heirs and legal representatives of such person. Any person seeking indemnification under this paragraph shall be deemed to have met the standard of conduct required for such indemnification unless the contrary shall be established. Any repeal or modification of the foregoing provisions of this paragraph shall not adversely affect any right or protection of a Director or officer of the Corporation with respect to any acts or omissions of such Director or officer occurring prior to such repeal or modification.

 

EIGHTH: In furtherance of and not in limitation of powers conferred by statute, it is further provided:

 

1. Election of Directors need not be by written ballot unless the By-Laws of the Corporation so provide.

 

2. Meetings of stockholders may be held within or without the State of Delaware, as the By-Laws may provide.

 

3. To the extent permitted by law, the books of the Corporation may be kept outside the State of Delaware at such place or places as may be designated from time to time by the Board of Directors or in the By-Laws of the Corporation.

 

NINTH: Except as otherwise provided herein, the Corporation reserves the right to amend, alter, change or repeal any provision contained in this Certificate of Incorporation, in the manner now or hereafter prescribed by statute, and all rights conferred upon stockholders herein are granted subject to this reservation.

 

3. That the foregoing amendment and restatement was approved by the holders of the requisite number of shares of this corporation in accordance with Section 228 of the General Corporation Law.

 

4. That this Sixth Amended and Restated Certificate of Incorporation, which restates and integrates and further amends the provisions of this Corporation’s Certificate of Incorporation, has been duly adopted in accordance with Sections 242 and 245 of the General Corporation Law.

 

* * *

 

-2-
 

 

IN WITNESS WHEREOF, the undersigned, being the incorporator herein before named, has executed this Certificate of Incorporation this 22nd day of April, 2020.

 

  /s/ David Gandler
  David Gandler, Chief Executive Officer

 

-3-

 

 

Exhibit 10.1

 

AMENDMENT to NOTE PURCHASE AGREEMENT

 

This Amendment to Note Purchase Agreement (this “Amendment”), is entered into effective as of April 21, 2020, by and among FaceBank Group, Inc. (“FaceBank”), fuboTV Inc. (f/k/a FuboTV Acquisition Corp.), Evolution AI Corporation and Pulse Evolution Corporation (together, FaceBank, fuboTV Inc., and Evolution AI Corporation and Pulse Evolution Corporation, the “Borrower”) and FB Loan Series I, LLC (the “Purchaser”). Capitalized terms not defined herein shall have the meanings ascribed to such terms as set forth in the Purchase Agreement (as defined below).

 

RECITALS

 

A. The Borrower and the Purchaser entered into the Note Purchase Agreement dated as of March 16, 2020 (the “Purchase Agreement”).

 

B. Section 13.4 of the Purchase Agreement provides that any amendment, waiver, supplement or modification of or to any provision of the Purchase Agreement, and any consent to any departure by any party from the terms of any provision of the Purchase Agreement, shall be effective only if it is made or given in writing and signed by the Borrower and the Required Holders.

 

C. Section 8.17(c) of the Purchase Agreement provides, among other things, that (i) FaceBank shall file a registration statement with the Commission regarding the purchase and sale of the Shares and any shares of Capital Stock issuable upon exercise of the Warrant and (ii) FaceBank shall have filed an application to list FaceBank’s Capital Stock for trading on the NASDAQ exchange, in each case on or before the date that is thirty (30) days following the Closing Date.

 

D. The Borrower and the Purchaser, representing the Required Holders and the parties necessary to modify or waive terms of the Purchase Agreement, mutually wish to amend certain terms in the Purchase Agreement.

 

AGREEMENT

 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree to amend and restate Section 8.17(c) of the Purchase Agreement as follows:

 

1. Registration Statement and Listing on National Exchange.

 

(i) If FaceBank shall determine to register any of its securities either for its own account or the account of a security holder or holders on any registration form (other than Form S-4 or S-8), FaceBank shall include in such registration all of the Closing Date Shares and any shares of Capital Stock issuable upon exercise of the Warrant (the “Registrable Securities” and such registration of the Registrable Securities, a “Piggyback Registration”); provided, however, that if a Piggyback Registration does not occur on or prior to May 25, 2020, FaceBank shall file a registration statement with the Commission to register the Registrable Securities and to permit or facilitate the sale and distribution of the Registrable Securities on or prior to May 25, 2020.

 

(ii) FaceBank shall have initiated the process to list FaceBank’s Capital Stock for trading on a national exchange (e.g., NYSE or Nasdaq) on or before the date that is thirty (30) days following the Closing Date.

 

(iii) FaceBank shall diligently prosecute and shall timely respond to all requests and mandates from applicable Governmental Authorities in connection with the registration and listing applications referred to in this Section 8.17(c).

 

2. Miscellaneous.

 

(a) Governing Law. This Amendment shall be governed by and construed in accordance with the laws of the State of New York, without giving effect to any choice of law or conflict of law provision of rule (whether of the State of New York or any other jurisdiction) that would cause the application of the law of any jurisdiction other than the State of New York.

 

(b) Counterparts. This Amendment may be executed in any number of counterparts, each of which shall be enforceable against the parties actually executing such counterparts, and all of which together shall constitute one instrument.

 

(c) Telecopy Execution and Delivery. A facsimile, telecopy or other reproduction of this Amendment may be executed by one or more parties hereto and delivered by such party by facsimile or any similar electronic transmission device pursuant to which the signature of or on behalf of such party can be seen. Such execution and delivery shall be considered valid, binding and effective for all purposes. At the request of any party hereto, all parties hereto agree to execute and deliver an original of this Amendment as well as any facsimile, telecopy or other reproduction hereof.

 

(d) Effect of Amendment. Except as set forth above, the Purchase Agreement shall continue in effect in accordance with its terms.

 

(Signature Pages Follow)

 

 
 

 

IN WITNESS WHEREOF, the parties have executed this Amendment to Note Purchase Agreement as of the date first written above.

 

  BORROWER:
  Facebank group, inc.
   
  By: /s/ David Gandler
  Name: David Gandler
  Title: Chief Executive Officer
     
  fubotv inc.
     
  By: /s/ David Gandler
  Name: David Gandler
  Title: Chief Executive Officer
     
  EVOLUTION AI CORPORATION
     
  By: /s/ John Textor
  Name: John Textor
  Title: Chief Executive Officer
     
  PULSE EVOLUTION CORPORATION
     
  By: /s/ Jordan Fiksenbaum
  Name: Jordan Fiksenbaum
  Title: Chief Executive Officer
     
  PURCHASER:
  FB LOAN SERIES I, LLC
     
  By: /s/ Greg Preis
  Name: Greg Preis
  Title: Authorized Signatory

 

Signature Page to Amendment to Note Purchase Agreement