Company: BL
Filing Date: 2025-03-10
Form Type: 8-K
Source: 0001193125-25-050422
Chunk: 0

Company: BLACKLINE, INC.
Filing Date: 2025-03-10
Form: 8-K
Item: Item 1.01
Chunk 0
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Item 1.01 Entry into a Material Definitive Agreement.

On March 9, 2025, BlackLine, Inc. (the “ Company”) entered into a cooperation letter agreement (the “ Agreement”) with Scalar Gauge Fund, LP and certain other parties (collectively, “ Scalar Gauge”).

Among other things, the Agreement provides that:

  The Company will increase the size of the Company’s board of directors (the “ Board”) to 11 directors and appoint Scott Davidson as a Class I Director, with a term expiring at the Company’s 202...  
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  For the period from the effective date of the Agreement through 15 days prior to the deadline for submission of director nominations for the 2026 Annual Meeting (such period, the “ Restricted P...  

  During the Restricted Period, Scalar Gauge and certain other related persons will be subject to customary “standstill” provisions as set forth in the Agreement. The standstill provisions provid...  

  o       enter into a voting agreement or any “group” with stockholders of the Company, other than with other Restricted Persons;  

  o       seek representation on the Board, or submit any proposal for consideration by stockholders of the Company at any annual or special meeting of stockholders;  

  o       acquire any securities of the Company that would result in Scalar Gauge and such related persons beneficially owning 4.9 percent or more of the then-outstanding voting securities of the Company...  

  o       other than through certain open market transactions and public offerings, sell securities of the Company to any person that is not a party to the Agreement that, to Scalar Gauge’s knowledge, wo...  

  During the Restricted Period, if Mr. Davidson ceases to be a director for any reason, then Scalar Gauge will identify and recommend a replacement independent director, and the Board will appoin...  

The foregoing summary of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, a copy of which is filed with this Current Report on Form8-Kas Exhibit 10.1 and is incorporated by reference.