**
 

 

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

 

 

**FORM 10-K/A**

**(Amendment No. 1)**

 

 

 
****☒********
**ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

**For the fiscal year ended January 31, 2020**

**or**

 
****☐********
**TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

**Commission File Number: 001-38828**

 

 

**SEACHANGE INTERNATIONAL, INC.**

**(Exact Name of Registrant as Specified in Its Charter)**

 

 

 
**Delaware** **04-3197974**
**(State or Other Jurisdiction of**

**Incorporation or Organization)**
 
**(I.R.S. Employer**

**Identification No.)**

 

**500 Totten Pond Road**

**Waltham, MA**
 **02451****(Address of Principal Executive Offices)** **(Zip Code)**
**(978)-897-0100**

**(Registrant’s telephone number, including area code)**

**Securities registered pursuant to Section 12(b) of the Exchange Act:**

 

**Title of each class**
 
**Trading**

**Symbol(s)**
 
**Name of each exchange**

**on which registered**
**Common Stock, $0.01 Par Value** **SEAC** **The Nasdaq Global Select Market****Series A Participating Preferred Stock Purchase Rights** **SEAC** **The Nasdaq Global Select Market**
**Securities registered pursuant to Section 12(g) of the Exchange Act:**

**None**

 

 

Indicate bycheck mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.    Yes  ☐    No  ☒ 

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the ExchangeAct.    Yes  ☐    No  ☒ 

Indicate by check mark whether theregistrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and(2) has been subject to such filing requirements for the past 90 days.    Yes  ☒    No  ☐ 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit suchfiles).    Yes  ☒    No  ☐ 

Indicate by check mark whether theregistrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,”“accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. 

 
Large accelerated filer ☐  Accelerated filer ☒Non-accelerated filer ☐  Smaller reporting company ☒   Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extendedtransition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of theExchange Act).    Yes  ☐    No  ☒ 

As of July 31, 2019, theaggregate market value of the voting stock held by non-affiliates of the registrant, based upon the closing price for the registrant’s Common Stock on the NASDAQ Global Select Market on such date was$60,364,119. For the purposes of this calculation, shares owned by officers and directors (and their affiliates) have been excluded. This exclusion is not intended, nor shall it be deemed, to be an admission that such persons are affiliates of theregistrant. The registrant does not have any non-voting common stock outstanding. 

The number ofshares of the registrant’s Common Stock outstanding as of the close of business on April 6, 2020 was 37,208,434. 

**DOCUMENTSINCORPORATED BY REFERENCE:**

Portions of the registrant’s definitive proxy statement for the 2020 Annual Meeting of Stockholdersto be filed with the Securities and Exchange Commission pursuant to Regulation 14A are incorporated by reference into Part III of this Annual Report on Form 10-K to the extent stated herein. 

 

 

 
**

**Explanatory Note**

Seachange International, Inc. (the “Company”) is filing this Amendment No. 1 on Form 10-K/A (this“Amendment No. 1”) to amend its Annual Report on Form 10-K for the year ended January 31, 2020, originally filed with the U.S. Securities and Exchange Commission (the “SEC”) onApril 20, 2020 (the “Original Form 10-K”), solely to disclose that the Company had filed the Original Form 10-K after the April 15, 2020 deadlineapplicable to the Company for the filing of a Form 10-K, in reliance on the 45-day extension provided by an order issued by the SEC under Section 36 of theSecurities Exchange Act of 1934, as amended (the “Exchange Act”), dated March 4, 2020 (Release No. 34-88318), as modified by a new SEC order issued on March 25, 2020 (Release No. 34-88465) (collectively, the “Order”). 

On April 15, 2020, the Company filed a Current Report onForm 8-K to indicate its intention to rely on the Order for such extension. Consistent with the Company’s statements made in the Form 8-K, the Company was unable tofile the Original Form 10-K until April 20, 2020, and therefore relied on the Order due to circumstances related to coronavirus, or COVID-19. Specifically, theCompany’s operations and business have been challenged due to the conditions and travel restrictions surrounding the COVID-19 pandemic. These challenges have resulted in limited access to theCompany’s facilities and interfered with management’s ability to work with its independent accountants, professional advisors and support staff in order to complete the Company’s Original Form10-K. Management was therefore unable to prepare and review the Original Form 10-K by April 15, 2020. 

In accordance with Rules 12b-15 and 13a-14 under the Exchange Act, the Companyis including in this Amendment No. 1 an amended Part IV, Item 15 to include currently dated certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 from the Company’s principal executive officer and principalfinancial officer. Because no financial statements have been included in this Amendment No. 1 and this Amendment No. 1 does not contain or amend any disclosure with respect to Items 307 and 308 of RegulationS-K, paragraphs 3, 4 and 5 of the certifications have been omitted. Similarly, because no financial statements have been included in this Amendment No. 1, certifications pursuant to Section 906 ofthe Sarbanes-Oxley Act of 2002 have been omitted. 

Except as described above, this Amendment No. 1 does not amend, modify or update the informationin, or exhibits to, the Original Form 10-K, and we have not updated disclosures included therein to reflect any subsequent events. This Amendment No. 1 should be read in conjunction with the Original Form10-K and with our other filings made with the SEC subsequent to the filing of the Original Form 10-K.

**PART IV**

**ITEM 15. EXHIBITS,FINANCIAL STATEMENT SCHEDULES.**

(a) The following documents are filed as part of this Amendment No. 1: 

 
**Exhibit****No.**  
**Description**
31.1*  Certification of Principal Executive Officer Pursuant to Rule 13a-14(a) of the Exchange Act, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 31.2*  Certification of Principal Financial and Accounting Officer Pursuant to Rule 13a-14(a) of the Exchange Act, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 
 
*
Filed herewith 

**SIGNATURES**

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed onits behalf by the undersigned, thereunto duly authorized. 

 
  
**SEACHANGE INTERNATIONAL, INC.**
Date: May 26, 2020  By: 
*/s/*YOSSI ALONI
   Yossi Aloni   *Chief Executive Officer*   (*Principal Executive Officer*)