Item 8.01 Other Events.
As previously disclosed in Olo’s prospectus filed with the Securities and Exchange Commission pursuant to Rule 424(b), dated March 16, 2021, on or about October 21, 2020, DoorDash filed a lawsuit against Olo in New York State Supreme Court, New York County (the “Court”), in a dispute over fees charged to DoorDash (the “Case”). On April 22, 2021, in connection with the Restated Agreement, Olo entered into the Settlement of this matter.
Pursuant to the Settlement, Olo and DoorDash have agreed to a dismissal of this Case in full with prejudice without any amounts payable by Olo to DoorDash under the Settlement. The parties also exchanged releases.
On April 22, 2021, Olo and DoorDash issued a press release announcing the settlement of this matter. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Safe Harbor for Forward-Looking Statements
This Form 8-K contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Olo’s actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by Olo and its management, are inherently uncertain. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions and such forward-looking statements include, but are not limited to, Olo’s expectations about impact of the terms of the Restated Agreement on Olo’s business and financial results. All forward-looking statements included in this Form 8-K are based upon information available to Olo as of the date hereof, which may change, and Olo assumes no obligation to update any such forward-looking statements. These statements are not guarantees of future performance and actual results could differ materially from Olo’s current expectations. Factors that may cause Olo’s actual results to differ materially from current expectations include, among others, Olo’s ability to attract new customers, retain revenue from existing customers and increase sales from both new and existing customers, the impact of the COVID-19 pandemic on Olo’s business, consumer ordering behavior as COVID-19 restrictions lift, Olo’s ability to manage its growth effectively, Olo’s ability to meet expectations of securities analysts or investors with respect to its results of operations, the limited number of aggregators Olo’s Rails module currently relies on, including DoorDash, the competitive environment in which Olo operates, unfavorable conditions in Olo’s industry or the global economy or reductions in digital ordering transaction volumes or technology spending, and other risks discussed in Olo’s filings with the U.S. Securities and Exchange Commission (“SEC”), including Olo’s prospectus filed with the SEC pursuant to Rule 424(b), dated March 16, 2021, which filings are available from the SEC. Olo cautions you not to place undue reliance on any forward-looking statements, which are made as of the date of this Form 8-K. Olo undertakes no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If Olo updates one or more forward-looking statements, no inference should be drawn that Olo will make additional updates with respect to those or other forward-looking statements.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
