SeaChange International

SeaChange to be Acquired by Partner One

Retrieved on: 
Monday, March 11, 2024
Acquisition, SeaChange, Internal Revenue Code, SeaChange International, OTC, News, XStream, Purchasing, Sales management, Advertising, Computershare, Needham & Company, LLP, Rights, FAST

SeaChange has traditionally supported clients’ Operator TV systems, Advanced Advertising insertion platforms, the StreamVid streaming enablement solution, and the Xstream FAST channel service platform.

Key Points: 
  • SeaChange has traditionally supported clients’ Operator TV systems, Advanced Advertising insertion platforms, the StreamVid streaming enablement solution, and the Xstream FAST channel service platform.
  • The Company currently expects the transaction will result in net proceeds to SeaChange of between $13-15 million upon Closing.
  • In addition, SeaChange may, subject to the terms of the Purchase Agreement, respond to unsolicited, bona fide, written alternative acquisition proposals.
  • Needham & Company, LLC is acting as exclusive financial advisor to SeaChange in this transaction, and K&L Gates LLP is acting as legal counsel to SeaChange in this transaction.

SeaChange Reports Estimated and Unaudited Preliminary Fiscal Third Quarter and Nine Month Fiscal 2024 Financial Results

Retrieved on: 
Monday, November 20, 2023
SeaChange International, FAST, Free, Advertising, Bank statement, Depreciation, GAAP

To supplement the Company’s unaudited consolidated financial statements, which are prepared and presented in accordance with United States generally accepted accounting principles (“GAAP”), the Company uses certain non-GAAP measures, such as adjusted EBITDA.

Key Points: 
  • To supplement the Company’s unaudited consolidated financial statements, which are prepared and presented in accordance with United States generally accepted accounting principles (“GAAP”), the Company uses certain non-GAAP measures, such as adjusted EBITDA.
  • The Company discusses non-GAAP loss from operations and adjusted EBITDA, as the Company believes non-GAAP operating loss from operations and adjusted EBITDA are important measures that are not calculated according to GAAP.
  • Non-GAAP loss from operations and adjusted EBITDA are non-GAAP financial measures and should not be considered in isolation or as a substitute for financial information provided in accordance with GAAP.
  • These non-GAAP financial measures may not be computed in the same manner as similarly titled measures used by other companies.

Univer Video Selects SeaChange to Boost Global Campaign with OTT Relaunch

Retrieved on: 
Tuesday, November 14, 2023
SeaChange International, Universal church, Senior, Advertising, Partnership, FAST, CCO, SeaChange, Kingdom, Free, Verapamil, Roku

Univer Video is available on all major device platforms, including SmartTVs, with imminent expansion to Roku and other mobile devices.

Key Points: 
  • Univer Video is available on all major device platforms, including SmartTVs, with imminent expansion to Roku and other mobile devices.
  • "This partnership underscores our unwavering commitment to empowering innovative content partners on a global scale,” said Justin Murphy, Senior VP of Global Sales of SeaChange International.
  • “We are excited to join forces with Univer Video to create a seamless and captivating streaming service accessible to viewers worldwide."
  • Paulo Cezar Mendes, CCO of Univer Video, commented: “Thanks to the strategic partnership with SeaChange, Univer Video is poised to become compatible with a wider array of devices, providing viewers with more accessibility options than ever before.

FOX Sports Mexico and SeaChange Demonstrate the Future of Live Sports in Dolby Vision and Dolby Atmos at Nextv Miami

Retrieved on: 
Tuesday, October 31, 2023
Atmos, SeaChange, Fox Sports, Sport, Dolby Atmos, FOX, SVP, Life, Las Estrellas, Laboratory, FAST, Dolby Vision, Advertising, Senior, Free, SeaChange International, Fox Sports 2, Cassette tape

This will include a demonstration of how Dolby Vision ultra-vivid picture quality and Dolby Atmos immersive sound enhance the viewing experience of live sports through FOX Sports Mexico’s Streaming App, “ App FOX Sports MX .”

Key Points: 
  • This will include a demonstration of how Dolby Vision ultra-vivid picture quality and Dolby Atmos immersive sound enhance the viewing experience of live sports through FOX Sports Mexico’s Streaming App, “ App FOX Sports MX .”
    "Our work with Dolby and SeaChange represents a new era in live sports content delivery.
  • “We are thrilled to be working with FOX Sports Mexico and SeaChange to demonstrate how live sports can and should be enjoyed.”
    “The technology provided by SeaChange forms the backbone of FOX Sports' revolutionary content delivery.
  • Dolby Vision and Dolby Atmos, known for their unparalleled video and audio quality, will elevate sports content to new heights, delivering a truly immersive experience that will bring viewers closer to the action,” adds Justin Murphy, Senior VP Global Sales at SeaChange International.
  • FOX Sports Mexico and SeaChange will demonstrate the new experience at Nextv Latin America in Miami (November 1-2), showcasing the transformative power of Dolby Vision and Dolby Atmos in the world of sports content.

SeaChange Appoints Chris Klimmer CEO

Retrieved on: 
Wednesday, September 27, 2023
Advertising, Software as a service, Biotechnology, University, FAST, B2B, SeaChange, Tier 1, OVP, University of Hamburg, Rudolf Klimmer, SeaChange International, Fintech, E-commerce, IP, Doctor of Philosophy, EBITDA, Danish, Chris, Sales, ESG, Media studies, Family, Social media, Video game, Philosophy

BOSTON, Sept. 27, 2023 (GLOBE NEWSWIRE) -- SeaChange International, Inc. (“SeaChange” or the “Company”), a leading provider of video delivery, advertising, streaming platforms, and emerging Free Ad-Supported Streaming TV services (FAST) development, today announced the promotion of Chris Klimmer to President, CEO and a member of the Board of Directors, effective immediately.

Key Points: 
  • BOSTON, Sept. 27, 2023 (GLOBE NEWSWIRE) -- SeaChange International, Inc. (“SeaChange” or the “Company”), a leading provider of video delivery, advertising, streaming platforms, and emerging Free Ad-Supported Streaming TV services (FAST) development, today announced the promotion of Chris Klimmer to President, CEO and a member of the Board of Directors, effective immediately.
  • Klimmer said: “On behalf of the Board and myself I’d like to thank Peter Aquino for his invaluable contributions to SeaChange and shepherding it to the well positioned company it is today.
  • I could not be more grateful and proud to now be entrusted with leading SeaChange into the next phase of its evolution.
  • During my tenure as CEO Chris has proven that he can lead the team and manage the business with the right balance of discipline and passion.

SeaChange Adopts Tax Benefits Preservation Plan to Protect Tax Assets

Retrieved on: 
Wednesday, August 16, 2023
Computershare, Common stock, Advertising, Plan, FAST, Date, SeaChange, SEAC, Person, Rights, SeaChange International, Bangladesh Securities and Exchange Commission, Internal Revenue Code, Acquisition, Security (finance)

As of January 31, 2023, the Company had United States federal NOLs of approximately $131 million.

Key Points: 
  • As of January 31, 2023, the Company had United States federal NOLs of approximately $131 million.
  • The Plan is similar to the Company’s previous Tax Benefits Preservation Plan, as amended, dated March 4, 2019, by and between the Company and Computershare Inc., as rights agent, which expired on March 4, 2022.
  • Subject to customary limitations, the Plan may be amended, redeemed or terminated by the Board at any time prior to being triggered or its expiration.
  • Additional details regarding the Plan are contained in a Current Report on Form 8-K to be filed by SeaChange with the U.S. Securities and Exchange Commission (the “SEC”).

SeaChange Announces Voluntary SEC Deregistration and Nasdaq Delisting

Retrieved on: 
Tuesday, August 8, 2023
Smart TV, Common stock, Advertising, FAST, SeaChange, SEAC, Perception, Connected, SeaChange International, Accounting, Sale, Dislocation, OTC Bulletin Board, EBITDA, Growth, Form 10-K, Security (finance), Sales, Cryptocurrency

BOSTON, Aug. 08, 2023 (GLOBE NEWSWIRE) -- SeaChange International, Inc. (NASDAQ: SEAC), (“SeaChange” or the “Company”), a leading provider of video delivery, advertising, streaming platforms, and emerging Free Ad-Supported Streaming TV services (FAST) development, today announced its voluntary decision to deregister its common stock (the “Common Stock”) with the U.S. Securities and Exchange Commission (the “SEC”) and delist its Common Stock from The Nasdaq Stock Market LLC (“Nasdaq”).

Key Points: 
  • BOSTON, Aug. 08, 2023 (GLOBE NEWSWIRE) -- SeaChange International, Inc. (NASDAQ: SEAC), (“SeaChange” or the “Company”), a leading provider of video delivery, advertising, streaming platforms, and emerging Free Ad-Supported Streaming TV services (FAST) development, today announced its voluntary decision to deregister its common stock (the “Common Stock”) with the U.S. Securities and Exchange Commission (the “SEC”) and delist its Common Stock from The Nasdaq Stock Market LLC (“Nasdaq”).
  • The Company expects that the voluntary delisting from Nasdaq and “going dark” will save SeaChange significant money, which can be used to execute the Company’s standalone plan, and thus will provide a benefit to the Company’s stockholders.
  • However, SeaChange stockholders who are concerned about liquidity may choose to sell their shares of Common Stock now before the delisting becomes effective.
  • No guarantee, however, can be made that a trading market in the Common Stock in any over-the-counter market will be maintained.

Plug Power Announces Changes to Board of Directors

Retrieved on: 
Monday, July 10, 2023
Acceleration, AT, PrimeCo, Aricent, Plug Power, Zygo Corporation, JDSU, Organization, Entrepreneurship, SeaChange International, MRV Communications, Growth, Principal, Management, Plug

LATHAM, N.Y., July 10, 2023 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a leading provider of comprehensive hydrogen solutions for the global green hydrogen economy, today announced changes to its Board of Directors.

Key Points: 
  • LATHAM, N.Y., July 10, 2023 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a leading provider of comprehensive hydrogen solutions for the global green hydrogen economy, today announced changes to its Board of Directors.
  • He currently holds the position of President and CEO at On Board Advisors, LLC, a renowned financial and strategic advisory firm.
  • In addition, Jean Bua and Jonathan Silver stepped down from Plug’s Board of Directors effective immediately.
  • “On behalf of the Plug Power team, we are extremely grateful for the contributions of Jean Bua and Jonathan Silver to the company’s Board, and we are excited to welcome Patrick Joggerst and Mark Bonney to the Board.

SeaChange Reports Fiscal Q1 2024 Financial and Operational Results

Retrieved on: 
Monday, June 12, 2023
Advertising, Software as a service, FAST, SeaChange, SEAC, SeaChange International, GAAP, Fox Sports (Mexican TV network), EBITDA, Notice, Growth, Software, Video game, Reinsurance, Renewable energy, Bank, Security (finance)

“With service revenues up 40% year-over-year, our focus on generating recurring revenue streams has proven effective, underscoring SeaChange's commitment to long-term growth and stability.

Key Points: 
  • “With service revenues up 40% year-over-year, our focus on generating recurring revenue streams has proven effective, underscoring SeaChange's commitment to long-term growth and stability.
  • Looking ahead, we are highly encouraged by the prevailing tailwinds in the connected TV market and the ongoing consumer shift towards free ad-supported content.
  • Total non-GAAP operating expenses were $4.5 million, compared to non-GAAP operating expenses of $5.8 million in the fourth quarter of fiscal 2023 and $4.7 million in the first quarter of fiscal 2023.
  • Ended the first quarter of fiscal 2024 with cash and cash equivalents of $13.8 million, $1.4 million of marketable securities, and no debt.

SeaChange International, Inc. Announces Reverse Stock Split

Retrieved on: 
Monday, May 22, 2023
Exercise, Computershare, Advertising, Shareholder, FAST, SeaChange, SEAC, Eastern Time Zone, Bangladesh Securities and Exchange Commission, SeaChange International, CUSIP, Security (finance)

(NASDAQ: SEAC) (“SeaChange” or the “Company”), a leading provider of video delivery, advertising, streaming platforms, and emerging FAST (Free Ad-Supported Streaming TV services) development, today announced that it has resolved to effect a reverse stock split of the Company’s issued common stock and has determined the ratio to be 1-for-20.

Key Points: 
  • (NASDAQ: SEAC) (“SeaChange” or the “Company”), a leading provider of video delivery, advertising, streaming platforms, and emerging FAST (Free Ad-Supported Streaming TV services) development, today announced that it has resolved to effect a reverse stock split of the Company’s issued common stock and has determined the ratio to be 1-for-20.
  • The Company’s stockholders approved the reverse stock split and granted the SeaChange board of directors the authority to determine the exact split ratio and when to proceed with the reverse stock split at the Company’s Annual Meeting of Stockholders held on May 19, 2023.
  • No fractional shares of common stock will be issued in connection with the reverse stock split.
  • If as a result of the reverse stock split, a stockholder of record would otherwise hold a fractional share, the fractional share resulting from the reverse stock split will be rounded up to the nearest whole share.