Form 8-K Energous Corp For: Sep 20

 

 

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): September 20, 2021

 

Energous Corporation

(Exact name of registrant as specified in its charter)

 

 

Delaware		001-36379		46-1318953
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

 

3590 North First Street, Suite 210

San Jose, California 95134

(Address of principal executive offices) (Zip Code)

(408) 963-0200

(Registrant’s telephone number, including area code)

N/A

(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:

 

☐	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
Common Stock, $0.00001 par value		WATT		The Nasdaq Stock Market LLC

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 provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

Item 1.02

Termination of a Material Definitive Agreement.

On September 20, 2021, Energous Corporation (the “Company”) was notified by Dialog Semiconductor (UK) Limited (“Dialog”), recently acquired by Renesas Electronics Corporation, that it was terminating the Strategic Alliance Agreement between the Company and Dialog, dated November 6, 2016 (the “Alliance Agreement”).

Pursuant to the terms of the Alliance Agreement, the Company had agreed to engage Dialog as the exclusive supplier of the Company’s wire-free charging technology for specified fields of use (“Licensed Products”), subject to certain exceptions. In addition, both parties had agreed on a revenue sharing arrangement and a collaboration on the commercialization of Licensed Products based on a mutually agreed upon plan. Each party agreed to retain all of its intellectual property. The Alliance Agreement had an initial term of seven years. There is a wind down period included in the Alliance Agreement which will conclude in September 2024. During the wind down period, the Alliance Agreement’s terms will continue to apply to the Company’s products that are covered by certain existing customer relationships, except that the parties’ respective exclusivity rights have terminated.

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: September 23, 2021		By:		/s/ William Mannina
				William Mannina
				Acting Chief Financial Officer