Sonic Foundry

Delisting of Securities of Sono Group N.V.; Baudax Bio, Inc.; Comera Life Sciences Holdings, Inc.; Missfresh Limited; Rose Hill Acquisition Corporation; Axcella Health; Zivo Bioscience, Inc.; Sonic Foundry, Inc.; Mobiquity Technologies, Inc.; Cuentas, Inc

Retrieved on: 
Tuesday, February 13, 2024

Nasdaq also announced today that it will delist the American Depositary Shares of Missfresh Limited.

Key Points: 
  • Nasdaq also announced today that it will delist the American Depositary Shares of Missfresh Limited.
  • Missfresh Limited’s securities were suspended on November 17, 2023, and have not traded on Nasdaq since that time.
  • Nasdaq also announced today that it will delist the unit, ordinary shares, and warrants of Rose Hill Acquisition Corporation.
  • Rose Hill Acquisition Corporation’s securities were suspended on November 21, 2023, and have not traded on Nasdaq since that time.

Sonic Foundry Announces Sale of Mediasite Business to Enghouse Systems

Retrieved on: 
Monday, February 12, 2024

Sonic Foundry, Inc. (OTC: SOFO), the trusted leader in developing comprehensive video recording and streaming solutions for corporations, health care organizations and government entities today announced that it has successfully completed the sale of its Mediasite product and service business to Enghouse Systems Ltd. Mediasite will become part of Enghouse’s Interactive Management Group which provides scalable video management solutions to thousands of businesses, educational institutions, and other organizations around the world.

Key Points: 
  • Sonic Foundry, Inc. (OTC: SOFO), the trusted leader in developing comprehensive video recording and streaming solutions for corporations, health care organizations and government entities today announced that it has successfully completed the sale of its Mediasite product and service business to Enghouse Systems Ltd. Mediasite will become part of Enghouse’s Interactive Management Group which provides scalable video management solutions to thousands of businesses, educational institutions, and other organizations around the world.
  • Sonic Foundry stockholders voted in favor of the sale during a special meeting of stockholders which took place on February 6, 2024, and the transaction closed on February 9, 2024.
  • As part of the deal, Sonic Foundry sold the assets of its Mediasite business including its Japanese and Dutch subsidiaries for US$ 15.5 million in cash (subject to certain price adjustments) as described in more detail in the Current Report on Form 8-K (the “Form 8-K”) which Sonic Foundry filed February 9, 2024, with the Securities and Exchange Commission (the “SEC”) regarding the closing of the transaction.”
    Sonic Foundry CEO Joe Mozden, Jr. commented, “We are pleased to have completed the sale of our Mediasite business and are confident that Enghouse will provide excellent stewardship for the Mediasite brand in the years ahead.
  • The sale of Mediasite will allow Sonic Foundry to focus on our emerging businesses, Vidable® and Global Learning Exchange®, both of which we believe have potential for growth.”

Enghouse Completes Acquisition of Mediasite

Retrieved on: 
Monday, February 12, 2024

MARKHAM, ON and MADISON, Wis., Feb. 12, 2024 /PRNewswire/ - Enghouse Systems Limited (TSX: ENGH) today announced it has successfully completed its acquisition of the Mediasite SaaS video recording and streaming business from Sonic Foundry, Inc. (OTC: SOFO).

Key Points: 
  • MARKHAM, ON and MADISON, Wis., Feb. 12, 2024 /PRNewswire/ - Enghouse Systems Limited (TSX: ENGH) today announced it has successfully completed its acquisition of the Mediasite SaaS video recording and streaming business from Sonic Foundry, Inc. (OTC: SOFO).
  • The acquisition was completed under the terms of a previously announced agreement dated January 4, 2024.
  • The addition of Mediasite expands Enghouse's footprint in the Japanese market and suite of SaaS video software solutions.
  • "Enghouse's expertise in complementary video communication solutions makes it ideal to acquire the Mediasite business," said Sonic Foundry's Joe Mozden, Jr. "Enghouse is well positioned to expand that business and serve the needs of our long-term customer base."

Enghouse Completes Acquisition of Mediasite

Retrieved on: 
Monday, February 12, 2024

MARKHAM, ON and MADISON, Wis., Feb. 12, 2024 /PRNewswire/ -- Enghouse Systems Limited (TSX: ENGH) today announced it has successfully completed its acquisition of the Mediasite SaaS video recording and streaming business from Sonic Foundry, Inc. (OTC: SOFO). 

Key Points: 
  • MARKHAM, ON and MADISON, Wis., Feb. 12, 2024 /PRNewswire/ -- Enghouse Systems Limited (TSX: ENGH) today announced it has successfully completed its acquisition of the Mediasite SaaS video recording and streaming business from Sonic Foundry, Inc. (OTC: SOFO).
  • The acquisition was completed under the terms of a previously announced agreement dated January 4, 2024.
  • The addition of Mediasite expands Enghouse's footprint in the Japanese market and suite of SaaS video software solutions.
  • "Enghouse's expertise in complementary video communication solutions makes it ideal to acquire the Mediasite business," said Sonic Foundry's Joe Mozden, Jr. "Enghouse is well positioned to expand that business and serve the needs of our long-term customer base."

Sonic Foundry Announces Fourth Quarter and Fiscal Year 2023 Results

Retrieved on: 
Thursday, January 4, 2024

• Adjusted EBITDA was a negative $2.4 million compared to a negative $2.1 million in the fourth fiscal quarter of 2023, mostly attributable to investments in our new growth areas.

Key Points: 
  • • Adjusted EBITDA was a negative $2.4 million compared to a negative $2.1 million in the fourth fiscal quarter of 2023, mostly attributable to investments in our new growth areas.
  • • Full fiscal year 2023 Adjusted EBITDA was a loss of $10.3 million compared to $5.2 million loss reported in fiscal year 2022.
  • “Our fourth quarter results are consistent with expectations as we implement a forward-thinking growth strategy for Sonic Foundry.
  • Gross margin was $3.2 million for the fourth quarter of fiscal 2023, compared with $3.9 million in the same period of the prior fiscal year.

Sonic Foundry Announces Agreement to Sell its Mediasite Business to Enghouse Systems

Retrieved on: 
Thursday, January 4, 2024

Sonic Foundry, Inc. (OTC: SOFO), the trusted leader in developing comprehensive video recording and streaming solutions for corporations, health care organizations and government entities today announced that it has reached a definitive agreement to sell its Mediasite product and service business to Enghouse Systems Ltd.

Key Points: 
  • Sonic Foundry, Inc. (OTC: SOFO), the trusted leader in developing comprehensive video recording and streaming solutions for corporations, health care organizations and government entities today announced that it has reached a definitive agreement to sell its Mediasite product and service business to Enghouse Systems Ltd.
  • Under the terms of the agreement, Sonic Foundry will sell the assets of its Mediasite business including its Japanese and Dutch subsidiaries for US$ 15.5 million in cash (subject to certain price adjustments).
  • Closing of the transaction is subject to approval by Sonic Foundry shareholders and certain customary closing conditions.
  • Sonic Foundry CEO Joe Mozden, Jr. commented, “We are pleased to have identified a strategic buyer for the Mediasite business.

Enghouse Systems Signs Agreement to Acquire Mediasite

Retrieved on: 
Thursday, January 4, 2024

MARKHAM, ON and MADISON, Wis., Jan. 4, 2024 /PRNewswire/ -- Enghouse Systems Limited (TSX: ENGH) ("Enghouse") and Sonic Foundry, Inc. (OTC: SOFO) jointly announced that they have entered into a definitive agreement by which Enghouse will acquire the Mediasite business of Sonic Foundry.

Key Points: 
  • MARKHAM, ON and MADISON, Wis., Jan. 4, 2024 /PRNewswire/ -- Enghouse Systems Limited (TSX: ENGH) ("Enghouse") and Sonic Foundry, Inc. (OTC: SOFO) jointly announced that they have entered into a definitive agreement by which Enghouse will acquire the Mediasite business of Sonic Foundry.
  • Under the terms of the agreement, Sonic Foundry will sell the assets of its Mediasite business including its Japanese and Dutch subsidiaries for US$15.5 million in cash (subject to certain price adjustments).
  • Closing of the transaction is subject to approval by Sonic Foundry shareholders and certain customary closing conditions.
  • It is currently expected that the acquisition will be completed during the first quarter of 2024.

Enghouse Systems Signs Agreement to Acquire Mediasite

Retrieved on: 
Thursday, January 4, 2024

MARKHAM, ON and MADISON, Wis., Jan. 4, 2024 /PRNewswire/ - Enghouse Systems Limited (TSX: ENGH) ("Enghouse") and Sonic Foundry, Inc. (OTC: SOFO) jointly announced that they have entered into a definitive agreement by which Enghouse will acquire the Mediasite business of Sonic Foundry.

Key Points: 
  • MARKHAM, ON and MADISON, Wis., Jan. 4, 2024 /PRNewswire/ - Enghouse Systems Limited (TSX: ENGH) ("Enghouse") and Sonic Foundry, Inc. (OTC: SOFO) jointly announced that they have entered into a definitive agreement by which Enghouse will acquire the Mediasite business of Sonic Foundry.
  • Under the terms of the agreement, Sonic Foundry will sell the assets of its Mediasite business including its Japanese and Dutch subsidiaries for US$15.5 million in cash (subject to certain price adjustments).
  • Closing of the transaction is subject to approval by Sonic Foundry shareholders and certain customary closing conditions.
  • It is currently expected that the acquisition will be completed during the first quarter of 2024.

Phunware Appoints Jeremy Kidd as Senior Vice President of Sales and Marketing

Retrieved on: 
Wednesday, November 29, 2023

Jeremy comes to Phunware with over two decades of sales leadership in mobile applications, AI, and augmented and virtual reality.

Key Points: 
  • Jeremy comes to Phunware with over two decades of sales leadership in mobile applications, AI, and augmented and virtual reality.
  • Jeremy was previously VP of Sales for Phunware and in that role was responsible for some of the largest contracts in Company history, including FOX, CBS, and WWE among others.
  • More recently, Jeremy served as VP of Strategy and Business Development at Sonic Foundry, Sr.
  • “We are delighted to welcome Jeremy back to Phunware, where he led the development of our most sizable line of business during that period,” said Phunware CEO Mike Snavely.

Sonic Foundry Announces Delisting from Nasdaq

Retrieved on: 
Monday, December 4, 2023

Sonic Foundry, Inc. (NASDAQ: SOFO), the trusted leader in developing comprehensive video recording and streaming solutions for corporations, health organizations and government entities today announced that the Company received a final delisting notice from Nasdaq on December 1, 2023.

Key Points: 
  • Sonic Foundry, Inc. (NASDAQ: SOFO), the trusted leader in developing comprehensive video recording and streaming solutions for corporations, health organizations and government entities today announced that the Company received a final delisting notice from Nasdaq on December 1, 2023.
  • The delisting is a result of failure to satisfy the $1.00 minimum bid price listing requirement in Nasdaq Listing Rule 5550(a)(2) and failure to comply with Nasdaq’s $2,500,000 minimum stockholders’ equity requirement for continued listing or any of the alternative requirements in Listing Rule 5550(b).
  • Suspension of trading in the Company’s common stock on the Nasdaq exchange will be effective at the open of trading on December 5, 2023.
  • Sonic Foundry CEO Joe Mozden, Jr. commented, “While we are disappointed in the Nasdaq delisting, this does not deter us from our long-term strategy of transforming Sonic Foundry into a high-growth company by launching new businesses and services.