UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Securities Exchange Act of 1934
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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 8.01 Other Events.
On June 28, 2021, VOXX International Corporation (“VOXX” or the “Company”) issued a press release announcing its wholly owned subsidiary, Premium Audio Company, LLC (“Premium”), and Sharp Corporation (“Sharp”) had entered into a joint venture agreement to acquire the audio/video business of Onkyo Home Entertainment Corporation (“Onkyo”). This joint venture agreement follows the previously announced Asset Purchase Agreement signed by Premium and Sharp on June 3, 2021. The transaction was previously approved by Onkyo’s board of directors and by its shareholders at its Ordinary General Meeting of Shareholders held on June 25, 2021. The transaction is subject to customary and regulatory closing conditions and is expected to close on or before August 30, 2021. In addition, VOXX entered into a new licensing agreement with Pioneer pursuant to which Premium will market and sell the Pioneer and Pioneer Elite Brands worldwide, excluding the People’s Republic of China. A copy of the press release is furnished as Exhibit 99.1 to this report.
The information furnished under Item 8.01, including Exhibit 99.1, shall not be deemed to be filed for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and will not be incorporated by reference into any registration statement filed under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
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Description |
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99.1 |
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104 |
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Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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VOXX INTERNATIONAL CORPORATION (Registrant) |
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Date: June 30, 2021 |
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BY: |
/s/ Charles M. Stoehr |
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Charles M. Stoehr |
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Senior Vice President and |
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Chief Financial Officer |