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Computer Task Group Inc. – ‘8-K’ for 9/29/22

On:  Thursday, 9/29/22, at 4:33pm ET   ·   For:  9/29/22   ·   Accession #:  950170-22-19054   ·   File #:  1-09410

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

 9/29/22  Computer Task Group Inc.          8-K:1,2,8,9 9/29/22   12:909K                                   Donnelley … Solutions/FA

Current Report   —   Form 8-K

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                      HTML     64K 
 2: EX-2.1      Plan of Acquisition, Reorganization, Arrangement,   HTML    600K 
                Liquidation or Succession                                        
 3: EX-99.1     Miscellaneous Exhibit                               HTML     37K 
 7: R1          Document and Entity Information                     HTML     47K 
10: XML         IDEA XML File -- Filing Summary                      XML     13K 
 8: XML         XBRL Instance -- ctg-20220929_htm                    XML     16K 
 9: EXCEL       IDEA Workbook of Financial Reports                  XLSX      8K 
 6: EX-101.LAB  XBRL Labels -- ctg-20220929_lab                      XML     55K 
 4: EX-101.PRE  XBRL Presentations -- ctg-20220929_pre               XML     35K 
 5: EX-101.SCH  XBRL Schema -- ctg-20220929                          XSD     11K 
11: JSON        XBRL Instance as JSON Data -- MetaLinks               12±    19K 
12: ZIP         XBRL Zipped Folder -- 0000950170-22-019054-xbrl      Zip     95K 


‘8-K’   —   Current Report


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 iX:   C:  C:  C: 
  8-K  
 i false i COMPUTER TASK GROUP INC i 000002311100000231112022-09-292022-09-29

 

 

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

Date of report (Date of earliest event reported):  i September 29, 2022

 

COMPUTER TASK GROUP, INCORPORATED

(Exact name of registrant as specified in its charter)

 

 

 i New York

 

 i 1-9410

 

 i 16-0912632

(State or other jurisdiction
of incorporation)

 

(Commission File
Number)

 

(IRS Employer
Identification No.)

 

 i 300 Corporate Parkway –  i Suite 214N,  i Amherst,  i NY

 

 i 14226

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code:  i (716)  i 882-8000

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:

 

 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 class

 

Trading
Symbol(s)

 

Name of each exchange
on which registered

 i Common Stock, $.01 par value

 

 i CTG

 

 i The NASDAQ Stock Market LLC

 

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.

 

 

 


 

 

 

Item 1.01 Entry into a Material Definitive Agreement.

On September 29, 2022, Computer Task Group, Incorporated, a New York corporation (“CTG”), entered into a Stock Purchase Agreement (the “Agreement”) with Eleviant Technologies, Inc., a Texas corporation (“ETI”), pursuant to which CTG simultaneously acquired all of the issued and outstanding shares of ETI (the “Acquisition”) for an aggregate purchase price of $18,600,000.00 U.S. Dollars, of which approximately $17,400,000 was paid in cash and the remainder of which was paid in CTG common stock equal to approximately $1,200,000.00, using the average trading price of CTG common stock in the ten (10) business days ending on September 26, 2022.

The Agreement contains customary representations, warranties and covenants of CTG and Company.

The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to, and should be read in conjunction with, the full text of the Agreement, which is filed as Exhibit 2.1 hereto and incorporated herein by reference.

Item 2.01 Completion of Acquisition of Disposition of Assets.

The information set forth under Item 1.01 above is incorporated by reference herein.

Item 8.01 Other Events.

On September 29, 2022, the Company issued a press release to announce the execution of the Agreement and the closing of the Acquisition. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number

 

Description

2.1

Stock Purchase Agreement, dated as of September 29, 2022, by and between Computer Task Group, Incorporated and Eleviant Technologies, Inc.

99.1

Press Release, dated September 29, 2022.

 

 

2


 

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.

 

 

 

COMPUTER TASK GROUP, INCORPORATED

 

 

 

 

 

Date: September 29, 2022

 

By:

 

/s/ Peter P. Radetich

 

 

 

 

Peter P. Radetich

Senior Vice President, General Counsel & Secretary

 

 

3



Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘8-K’ Filing    Date    Other Filings
Filed on / For Period end:9/29/22None on these Dates
9/26/22
 List all Filings 


2 Subsequent Filings that Reference this Filing

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

 3/15/23  Computer Task Group Inc.          10-K       12/31/22  110:25M                                    Donnelley … Solutions/FA
11/08/22  Computer Task Group Inc.          10-Q        9/30/22   86:13M                                    Donnelley … Solutions/FA
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