Attached files
| file | filename |
|---|---|
| EX-99.1 - ACORN ENERGY, INC. | ex99-1.htm |
| EX-99.2 - ACORN ENERGY, INC. | ex99-2.htm |
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) April 21, 2016
ACORN ENERGY, INC.
(Exact name of Registrant as Specified in its Charter)
| Delaware | 001-33886 | 22-2786081 | ||
| (State or Other Jurisdiction | (Commission | (IRS Employer | ||
| of Incorporation) | file Number) | Identification No.) |
| 3844 Kennett Pike, Wilmington, Delaware | 19807 | |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code (302) 656-1707
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-2 under the Exchange Act (17 CFR 240.14a-2)
[ ] 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))
Item 2.01 Completion of Acquisition or Disposition of Assets.
On April 21, 2016, Acorn Energy, Inc. completed the previously announced sale of nearly 50% of its 79% fully-diluted interest in its DSIT Solutions, Ltd. underwater sonar and acoustic detection systems business to Israel-based Rafael Advanced Defense Systems Ltd., realizing gross proceeds of approximately $4.9 million, excluding escrow (approximately $0.6 million), fees and taxes. Acorn is also eligible to receive its pro-rata share (approximately 82%) of a $1.0 million earn-out over a three-year period.
Item 8.01 Other Events.
1. On April 21, 2016, Acorn Energy, Inc. issued the press release attached hereto as Exhibit 99.1 announcing the completion of the sale of nearly 50% of its 79% fully-diluted interest in its DSIT Solutions, Ltd. business to Rafael Advanced Defense Systems Ltd.
2. On April 21, 2016, Acorn Energy, Inc. issued the press release attached hereto as Exhibit 99.2 announcing that it has initiated a process to liquidate the assets of its GridSense subsidiary.
Item 9.01 Financial Statements and Exhibits.
99.1 Press release of Acorn Energy, Inc. dated April 21, 2016.
99.2 Press release of Acorn Energy, Inc. dated April 21, 2016.
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SIGNATURES
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 on this 27th day of April, 2016.
ACORN ENERGY, INC.
| By: | /s/ Michael Barth | |
| Name: | Michael Barth | |
| Title: | Chief Financial Officer |
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