UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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): August 15, 2019
The Joint Corp.
(Exact Name of Registrant as Specified in Charter)
| Delaware | 001-36724 | 90-0544160 |
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification Number) |
16767 N. Perimeter Drive, Suite 240
Scottsdale, AZ 85260 |
| (Address of Principal Executive Offices) |
Registrant's telephone number, including area code:
(480) 245-5960
(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)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company [ X ]
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. [ X ]
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, $0.001 Par Value Per Share | JYNT | The NASDAQ Capital Market LLC |
Item 2.01. Completion of Acquisition or Disposition of Assets.
Effective August 15, 2019, The Joint Corp. (the “Company”) completed its repurchase of one operating franchise, located in Chula Vista, California (the “Repurchase Transaction”).
The Repurchase Transaction was accomplished pursuant to an Asset and Franchise Agreement Purchase Agreement (the “Purchase Agreement”) among the Company, Well Adjusted Ventures, LLC, a California limited liability company (“Seller”), and Jim Burbach (the “Shareholder”). The Company intends to own and operate the clinic.
The total consideration for the Repurchase Transaction was $325,000, of which $300,000 was paid in cash up front and $25,000 is payable 90 calendar days after the closing date, each subject to certain adjustments.
The foregoing description of the Repurchase Transaction does not purport to be complete and is qualified in its entirety by reference to the full text of the Purchase Agreement, a copy of which is filed as Exhibit 10.1, to this Current Report on Form 8-K and incorporated herein by reference. On August 19, 2019, the Company released a press release relating to the Repurchase Transaction, which is furnished herewith as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
(a) Financial Statements of Businesses Acquired
The financial information required by this item, if any, with respect to the Repurchase Transaction will be filed as soon as practicable and in any event within the timeframe required by Form 8-K.
(b) Pro Forma Financial Information
The pro forma financial information required by this item, if any, with respect to the Repurchase Transaction will be filed as soon as practicable and in any event within the timeframe required by Form 8-K.
(d) Exhibits
SIGNATURE
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.
| | The Joint Corp. |
| | | |
| | | |
| Date: August 19, 2019 | By: | /s/ Peter D. Holt |
| | | Name: Peter D. Holt |
| | | Title: President and Chief Executive Officer |
| | | |
EXHIBIT INDEX
