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Steel Connect, Inc. – ‘8-K’ for 8/1/22

On:  Monday, 8/1/22, at 6:53am ET   ·   For:  8/1/22   ·   Accession #:  1628280-22-19886   ·   File #:  1-35319

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 8/01/22  Steel Connect, Inc.               8-K:9       8/01/22  125:11M                                    Workiva Inc Wde… FA01/FA

Current Report   —   Form 8-K

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                      HTML    171K 
 2: EX-23.1     Consent of Expert or Counsel                        HTML     33K 
 3: EX-99.1     Miscellaneous Exhibit                               HTML   1.64M 
 9: R1          Cover Page                                          HTML     79K 
10: R2          Consolidated Balance Sheets                         HTML    163K 
11: R3          Consolidated Balance Sheets (Parenthetical)         HTML     55K 
12: R4          Consolidated Statements of Operations               HTML    156K 
13: R5          Consolidated Statements of Comprehensive Loss       HTML     63K 
14: R6          Consolidated Statements of Stockholders' Equity     HTML     78K 
15: R7          Consolidated Statements of Cash Flows               HTML    141K 
16: R8          Nature of Operations                                HTML     47K 
17: R9          Summary of Significant Accounting Policies          HTML     96K 
18: R10         Discontinued Operations                             HTML     86K 
19: R11         Inventories                                         HTML     41K 
20: R12         Property and Equipment                              HTML     46K 
21: R13         Accrued Expenses and Other Current Liabilities      HTML     51K 
22: R14         Debt                                                HTML     79K 
23: R15         Leases                                              HTML    110K 
24: R16         Restructuring Activities                            HTML     51K 
25: R17         Commitments and Contingencies                       HTML     41K 
26: R18         Defined Benefit Pension Plans                       HTML    122K 
27: R19         Revenue Recognition                                 HTML     62K 
28: R20         Other Gains, Net                                    HTML     42K 
29: R21         Share-Based Payments                                HTML     65K 
30: R22         Income Taxes                                        HTML    102K 
31: R23         Loss Per Share                                      HTML     54K 
32: R24         Accumulated Other Comprehensive Income              HTML     62K 
33: R25         Statement of Cash Flows Supplemental Information    HTML     47K 
34: R26         Stockholders' Equity                                HTML     54K 
35: R27         Fair Value Measurements                             HTML     50K 
36: R28         Segment Information                                 HTML     70K 
37: R29         Related Party Transactions                          HTML     40K 
38: R30         Summary of Significant Accounting Policies          HTML    126K 
                (Policies)                                                       
39: R31         Summary of Significant Accounting Policies          HTML     62K 
                (Tables)                                                         
40: R32         Discontinued Operations (Tables)                    HTML     87K 
41: R33         Inventories (Tables)                                HTML     42K 
42: R34         Property and Equipment (Tables)                     HTML     45K 
43: R35         Accrued Expenses and Other Current Liabilities      HTML     50K 
                (Tables)                                                         
44: R36         Debt (Tables)                                       HTML     65K 
45: R37         Leases (Tables)                                     HTML     87K 
46: R38         Restructuring Activities (Tables)                   HTML     49K 
47: R39         Defined Benefit Pension Plans (Tables)              HTML    127K 
48: R40         Revenue Recognition (Tables)                        HTML     61K 
49: R41         Other Gains, Net (Tables)                           HTML     42K 
50: R42         Share-Based Payments (Tables)                       HTML     62K 
51: R43         Income Taxes (Tables)                               HTML    100K 
52: R44         Loss Per Share (Tables)                             HTML     52K 
53: R45         Accumulated Other Comprehensive Income (Tables)     HTML     61K 
54: R46         Statement of Cash Flows Supplemental Information    HTML     61K 
                (Tables)                                                         
55: R47         Fair Value Measurements (Tables)                    HTML     46K 
56: R48         Segment Information (Tables)                        HTML     70K 
57: R49         NATURE OF OPERATIONS - Additional Information       HTML     59K 
                (Detail)                                                         
58: R50         SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -        HTML     66K 
                Additional Information (Detail)                                  
59: R51         SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -        HTML     43K 
                Accounts Receivable (Details)                                    
60: R52         SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Cash   HTML     41K 
                and Cash Equivalents (Detail)                                    
61: R53         SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -        HTML     48K 
                Estimated Useful Lives of Property Plant and                     
                Equipment (Detail)                                               
62: R54         DISCONTINUED OPERATIONS - Narrative (Details)       HTML     40K 
63: R55         DISCONTINUED OPERATIONS - Summary of Statement of   HTML     79K 
                Discontinued Operation (Details)                                 
64: R56         DISCONTINUED OPERATIONS - Disposal Groups,          HTML    103K 
                Including Discontinued Operations (Details)                      
65: R57         Inventories (Details)                               HTML     43K 
66: R58         PROPERTY AND EQUIPMENT - At Cost (Detail)           HTML     55K 
67: R59         ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES -    HTML     47K 
                Components of Accrued Expenses (Detail)                          
68: R60         ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES -    HTML     40K 
                Components of Other Current Liabilities (Detail)                 
69: R61         ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES -    HTML     41K 
                Additional Information (Detail)                                  
70: R62         DEBT - Summary of the Components of Debt (Details)  HTML     62K 
71: R63         DEBT - MidCap Credit Facility (Details)             HTML     75K 
72: R64         DEBT - 7.5% Convertible Note (Details)              HTML     66K 
73: R65         DEBT - Net Carrying Value of the Notes (Detail)     HTML     48K 
74: R66         DEBT - Summary of Interest Expense Related to       HTML     43K 
                Convertible Notes (Detail)                                       
75: R67         LEASES - Narrative (Details)                        HTML     34K 
76: R68         LEASES - Lease Costs (Details)                      HTML     47K 
77: R69         LEASES - Lease Commitments (Details)                HTML     90K 
78: R70         LEASES - Lease Information (Details)                HTML     44K 
79: R71         LEASES - Supplemental Cash Flow Information         HTML     40K 
                (Details)                                                        
80: R72         RESTRUCTURING ACTIVITIES - Schedule of              HTML     45K 
                Restructuring Charges by Type (Details)                          
81: R73         Restructuring Activities (Details)                  HTML     51K 
82: R74         COMMITMENTS AND CONTINGENCIES - Additional          HTML     65K 
                Information (Detail)                                             
83: R75         DEFINED BENEFIT PENSION PLANS - Additional          HTML     46K 
                Information (Detail)                                             
84: R76         DEFINED BENEFIT PENSION PLANS - Schedule of         HTML     62K 
                Defined Benefit Plan Assets Fair Value                           
                Measurements (Detail)                                            
85: R77         DEFINED BENEFIT PENSION PLANS - Aggregate Change    HTML     87K 
                in Benefit Obligation and Plan Assets (Detail)                   
86: R78         DEFINED BENEFIT PENSION PLANS - Information for     HTML     41K 
                Pension Plans with an Accumulated Benefit                        
                Obligation in Excess of Plan Assets (Detail)                     
87: R79         DEFINED BENEFIT PENSION PLANS - Components of Net   HTML     52K 
                Periodic Pension Cost (Detail)                                   
88: R80         DEFINED BENEFIT PENSION PLANS - Weighted Average    HTML     38K 
                Assumptions Used to Determine Benefit Obligations                
                (Detail)                                                         
89: R81         DEFINED BENEFIT PENSION PLANS - Weighted-Average    HTML     40K 
                Assumptions Used to Determine Net Periodic Pension               
                Cost (Detail)                                                    
90: R82         DEFINED BENEFIT PENSION PLANS - Summary of          HTML     46K 
                Expected Benefit Payments from Plans (Detail)                    
91: R83         REVENUE RECOGNITION - Disaggregated Revenue         HTML     48K 
                (Detail)                                                         
92: R84         REVENUE RECOGNITION REVENUE RECOGNITION - Contract  HTML     49K 
                Balances (Details)                                               
93: R85         REVENUE RECOGNITION - Summary of Changes in         HTML     40K 
                Deferred Revenue (Detail)                                        
94: R86         REVENUE RECOGNITION - Performance Obligations       HTML     42K 
                (Details)                                                        
95: R87         OTHER GAINS, NET - Components of Other Gains, Net   HTML     41K 
                (Detail)                                                         
96: R88         SHARE-BASED PAYMENTS - Additional Information       HTML     94K 
                (Detail)                                                         
97: R89         SHARE-BASED PAYMENTS - Summary of Share-Based       HTML     39K 
                Compensation (Benefit) Expense Related to Employee               
                Stock Options, Employee Stock Purchases and                      
                Non-Vested Shares (Detail)                                       
98: R90         SHARE-BASED PAYMENTS - Summary of Option Activity   HTML     66K 
                (Detail)                                                         
99: R91         SHARE-BASED PAYMENTS - Summary of Activity of       HTML     57K 
                Nonvested Stock (Detail)                                         
100: R92         INCOME TAXES - Components of Loss from Continuing   HTML     43K  
                Operations before Provision for Income Taxes                     
                (Detail)                                                         
101: R93         INCOME TAXES - Components of Income Tax Expense     HTML     61K  
                from Operations (Detail)                                         
102: R94         INCOME TAXES - Additional Information (Detail)      HTML     69K  
103: R95         INCOME TAXES - Components of Deferred Tax Assets    HTML     55K  
                and Liabilities (Detail)                                         
104: R96         INCOME TAXES - Difference of Income Tax Expense     HTML     60K  
                Attributable to Income from Continuing Operations                
                and Expense Computed using U.S. Federal Income Tax               
                (Detail)                                                         
105: R97         INCOME TAXES - Reconciliation of Beginning and      HTML     45K  
                Ending Balances of Total Amounts of Gross                        
                Unrecognized Tax Benefits (Detail)                               
106: R98         LOSS PER SHARE - Reconciliation of Loss Per Share   HTML     90K  
                (Detail)                                                         
107: R99         LOSS PER SHARE - Additional Information (Detail)    HTML     42K  
108: R100        ACCUMULATED OTHER COMPREHENSIVE INCOME -            HTML     67K  
                Accumulated Other Comprehensive Income, Net of                   
                Income Taxes (Detail)                                            
109: R101        STATEMENT OF CASH FLOWS SUPPLEMENTAL INFORMATION -  HTML     43K  
                Reconciliation of Cash (Details)                                 
110: R102        STATEMENT OF CASH FLOWS SUPPLEMENTAL INFORMATION -  HTML     38K  
                Cash Used for Operating Activities Reflect Cash                  
                Payments for Interest and Income Taxes (Detail)                  
111: R103        STATEMENT OF CASH FLOWS SUPPLEMENTAL INFORMATION -  HTML     39K  
                Additional Information (Detail)                                  
112: R104        STOCKHOLDERS' EQUITY - Additional Information       HTML     92K  
                (Detail)                                                         
113: R105        FAIR VALUE MEASUREMENTS - Financial Assets          HTML     45K  
                Measured at Fair Value on Recurring Basis and                    
                Classified by Fair Value Hierarchy (Detail)                      
114: R106        FAIR VALUE MEASUREMENTS - Additional Information    HTML     36K  
                (Details)                                                        
115: R107        SEGMENT INFORMATION - Additional Information        HTML     46K  
                (Detail)                                                         
116: R108        SEGMENT INFORMATION - Summarized Financial          HTML     57K  
                Information of Continuing Operations by Operating                
                Segment and Corporate-Level Activity (Detail)                    
117: R109        SEGMENT INFORMATION - Total Assets of Continuing    HTML     48K  
                Operations (Detail)                                              
118: R110        SEGMENT INFORMATION - Summarized Financial          HTML     41K  
                Information of Capital Expenditures, Depreciation,               
                and Amortization (Details)                                       
119: R111        SEGMENT INFORMATION - Summarized Financial          HTML     45K  
                Information of Net Revenue by Geographical                       
                Location (Details)                                               
120: R112        RELATED PARTY TRANSACTIONS - Additional             HTML     82K  
                Information (Detail)                                             
123: XML         IDEA XML File -- Filing Summary                      XML    239K  
121: XML         XBRL Instance -- stcn-20220801_htm                   XML   2.66M  
122: EXCEL       IDEA Workbook of Financial Reports                  XLSX    232K  
 5: EX-101.CAL  XBRL Calculations -- stcn-20220801_cal               XML    327K 
 6: EX-101.DEF  XBRL Definitions -- stcn-20220801_def                XML    934K 
 7: EX-101.LAB  XBRL Labels -- stcn-20220801_lab                     XML   2.46M 
 8: EX-101.PRE  XBRL Presentations -- stcn-20220801_pre              XML   1.55M 
 4: EX-101.SCH  XBRL Schema -- stcn-20220801                         XSD    265K 
124: JSON        XBRL Instance as JSON Data -- MetaLinks              614±   942K  
125: ZIP         XBRL Zipped Folder -- 0001628280-22-019886-xbrl      Zip    566K  


‘8-K’   —   Current Report


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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM  i 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

 i August 1, 2022
Date of Report (date of earliest event reported)

 i Steel Connect, Inc.
(Exact name of registrant as specified in its charter)
 i Delaware
 i 001-35319
 i 04-2921333
(State or other jurisdiction of incorporation or organization)
(Commission File Number)
(I.R.S. Employer Identification No.)
 i 2000 Midway Ln
 i Smyrna
 i Tennessee
 i 37167
(Address of Principal Executive Offices)
(Zip Code)
( i 914)  i 461-1276
Registrant's telephone number, including area code

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):

 i  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 i  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 i  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 i  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
 i Common Stock, $0.01 par value i STCN
 i Nasdaq Capital Market
 i Rights to Purchase Series D Junior Participating Preferred Stock--
 i Nasdaq Capital Market

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  i 




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. o





EXPLANATORY NOTE
 i This Current Report on Form 8-K amends Item 9.01 of the Current Report on Form 8-K filed on February 25, 2022, to present certain unaudited pro forma financial information in connection with the disposition of IWCO Direct Holdings Inc. ("IWCO").


Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.
Description
23.1
99.1
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).






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.

August 1, 2022Steel Connect, Inc.
By:/s/ Jason Wong
Name: Jason Wong
Title: Chief Financial Officer




Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘8-K’ Filing    Date    Other Filings
Filed on / For Period end:8/1/22
2/25/228-K,  8-K/A
 List all Filings 


7 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 8/23/22  Steel Connect, Inc.               DEFM14A                1:8.2M                                   EdgarAgents LLC/FA
 8/16/22  Steel Connect, Inc.               SC 13E3/A              3:4.7M Steel Connect, Inc.               EdgarAgents LLC/FA
 8/16/22  Steel Connect, Inc.               PRER14A                1:8.2M                                   EdgarAgents LLC/FA
 8/11/22  Steel Connect, Inc.               SC 13E3/A              1:125K Steel Connect, Inc.               EdgarAgents LLC/FA
 8/11/22  Steel Connect, Inc.               PRER14A                1:8.2M                                   EdgarAgents LLC/FA
 8/03/22  Steel Connect, Inc.               SC 13E3/A   8/02/22    1:125K Steel Connect, Inc.               EdgarAgents LLC/FA
 8/02/22  Steel Connect, Inc.               PRER14A                1:8.2M                                   EdgarAgents LLC/FA
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Filing Submission 0001628280-22-019886   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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