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EX-99.1 - EXHIBIT 99.1 - Monotype Imaging Holdings Inc.a51820003ex99_1.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

June 6, 2018
Date of Report (Date of earliest event reported)


MONOTYPE IMAGING HOLDINGS INC.
(Exact name of registrant as specified in its charter)

Delaware

001-33612

20-3289482

(State or Other Jurisdiction

of Incorporation)

(Commission File No.)

(IRS Employer

Identification No.)


600 Unicorn Park Drive
Woburn, Massachusetts 01801

(Address of Principal Executive Offices, including Zip Code)

Registrant’s telephone number, including area code: (781) 970-6000

Not Applicable

(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 (see General Instruction A.2. below):

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 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

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.  ☐


Item 2.05         Costs Associated with Exit or Disposal Activities.

On June 6, 2018, Monotype Imaging Holdings Inc. (the “Company”) announced a restructuring plan with respect to certain aspects of its operations. Under the restructuring plan, the Company expects that it will incur certain one-time cash and non-cash charges related to a reduction in force, the acceleration of payments owed to the founders of Swyft, and other transition activities of between $6 and $8 million in the aggregate. Cash charges will consist of $5 to $6 million of employee, facility and other related costs, and will primarily be paid during 2018 and the first half of 2019. One-time non-cash charges of between $1 and $2 million include an asset write down and goodwill impairment charge relating to the cessation of operations in the Company’s Swyft business.

Item 7.01        Regulation FD Disclosure.

On June 11, 2018, the Company issued a press release announcing the restructuring. A copy of the press release is attached hereto as Exhibit 99.1.

The information included on this Form 8-K pursuant to Item 7.01 (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 9.01       Financial Statements and Exhibits.

(d)          Exhibits

The Company hereby furnishes the following exhibit:

99.1 Press Release, dated as of June 11, 2018, of Monotype Imaging Holdings Inc.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned thereunto duly authorized.

MONOTYPE IMAGING HOLDINGS INC.

 

June 11, 2018

By:

/s/ Scott E. Landers

Scott E. Landers

Chief Executive Officer