On November 4, 2015, Live Ventures Incorporated (f/k/a Live Deal, Inc.) (the Company) sent notice to Chardan Capital Markets, LLC (Chardan) of its decision to terminate the ATM Engagement Agreement, dated May 16, 2014 between the Company and Chardan (the Agreement). Under the terms of the Agreement, the engagement period may be terminated by either party upon fifteen days written notice.
Under the terms of the Agreement, the offering consisted of the placement of up to 10,000,000 shares of common stock (the Shares) during the engagement period. Chardan was acting as the exclusive sales agent for the Company, on a reasonable best efforts basis, in connection with the Offering. The Company was obligated to pay a cash fee of 3% of the aggregate gross proceeds from t he issuance of any of the Shares.
There is no material relationship between the Company and Chardan other than in respect of the Agreement. There were no material circumstances surrounding termination that requires disclosure.
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.
Dated:November 10, 2015
Live Ventures Incorporated
/s/ Jon Isaac
Name: Jon Isaac
Title:Chief Executive Officer and President
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