<html>
<head>
	<title>sigm20180215_8k.htm</title>

	<!-- Created by RDG HTML Converter v1.1.0.0 2/15/2018 5:56:09 PM --><meta charset="utf-8"><meta name="format-detection" content="telephone=no"/>
</head>
<body style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 10px; margin-right: 10px; cursor: auto;">
<hr style="height: 3px; color: #000000; background-color: #000000; width: 100%; border: none; margin: 3pt 0">
<hr style="height: 1px; color: #000000; background-color: #000000; width: 100%; border: none; margin: 0 0 3pt 0">
<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:18pt;margin:0pt;text-align:center;"><b>UNITED STATES</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:18pt;margin:0pt;text-align:center;"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Washington<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">, DC 20549</font></b></p>

<hr style="text-align: center; height: 1px; color: #000000; background-color: #000000; width: 25%; border: none; margin: 3pt auto">
<p style="font-family:Times New Roman, Times, serif;font-size:18pt;margin:0pt;text-align:center;"><b>FORM 8<font style="font-family:Times New Roman, Times, serif;font-size:18pt;">-K</font></b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>CURRENT REPORT</b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Pursuant to Section 13 or 15(d) of</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>the Securities Exchange Act of 1934</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>February<font style="font-family:Times New Roman, Times, serif;font-size:10pt;"> 15, 2018</font></b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">Date of Report (date of earliest event reported)</p>

<hr style="text-align: center; height: 1px; color: #000000; background-color: #000000; width: 25%; border: none; margin: 3pt auto">
<p style="font-family:Times New Roman, Times, serif;font-size:18pt;margin:0pt;text-align:center;"><b>Sigma Designs, Inc.</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Exact name of Registrant as specified in its charter)</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;text-indent:0;font-family:Times New Roman, Times, serif;font-size:10pt;">

		<tr>
			<td style="vertical-align:top;width:29.4%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><u><b>California</b></u></p>
			</td>
			<td style="vertical-align:bottom;width:3.7%;">&nbsp;</td>
			<td style="vertical-align:top;width:31.8%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><u><b>00</b></u><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"><u><b>1</b></u><u><b>-</b></u><u><b>322</b></u><u><b>0</b></u><u><b>7</b></u></font></p>
			</td>
			<td style="vertical-align:bottom;width:2.5%;">&nbsp;</td>
			<td style="vertical-align:top;width:32.5%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><u><b>94-2848099</b></u></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:29.4%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">(State or other jurisdiction of<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;incorporation or organization)</font></p>
			</td>
			<td style="vertical-align:bottom;width:3.7%;">&nbsp;</td>
			<td style="vertical-align:top;width:31.8%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Commission File Number)</p>
			</td>
			<td style="vertical-align:bottom;width:2.5%;">&nbsp;</td>
			<td style="vertical-align:top;width:32.5%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">(I.R.S. Employer<br>
			<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Identification Number)</font></p>
			</td>
		</tr>

</table>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>47467 Fremont Blvd.</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><u><b>Fremont, California 94538</b></u></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Address of principal executive offices)</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><u><b>(</b></u><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"><u><b>510) 897-0200</b></u></font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Registrant<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&rsquo;s telephone number, including area code)</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Former name or former address, if changed since last report)</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">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):</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:14.4pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-14.4pt;">[&nbsp; ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:14.4pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-14.4pt;">[&nbsp;<font style="font-family:Times New Roman, Times, serif;font-size:10pt;"> ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:14.4pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-14.4pt;">[&nbsp; ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:14.4pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-14.4pt;">[&nbsp; ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&sect;240.12b-2 of this chapter).</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:24.5pt;margin-top:0pt;text-align:right;">Emerging growth company<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9744;</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:right;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">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. <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9744;</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<hr style="height: 1px; color: #000000; background-color: #000000; width: 100%; border: none; margin: 3pt 0">
<hr style="height: 3px; color: #000000; background-color: #000000; width: 100%; border: none; margin: 0 0 3pt 0">
<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<div id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%">&nbsp;</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Item </b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"><b>2</b><b>.01</b><b>. </b><b>Completion of Acquisition or Disposition of Assets</b></font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">On <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">February 15, 2018, Sigma Designs, Inc. (the &ldquo;Company&rdquo;) along with its direct wholly-owned subsidiary, Sigma Designs Technology Singapore Pte. Ltd., a company organized under the laws of Singapore (&ldquo;Seller&rdquo;), completed the previously announced sale (the &ldquo;Transaction&rdquo;) of all of the issued and outstanding shares of Sigma Designs Israel S.D.I Ltd. a company organized under the laws of Israel and a wholly-owned Subsidiary of Seller (&ldquo;Sigma Israel&rdquo;), pursuant to the terms of that certain Share Purchase Agreement (the &ldquo;Purchase Agreement&rdquo;), dated February 6, 2018, with Integrated Silicon Solution (Cayman), Inc., a company organized under the laws of the Cayman Islands (&ldquo;Buyer&rdquo;). Sigma Israel conducts the Company&rsquo;s Media Connectivity business, consisting primarily of the Company&rsquo;s HomePNA and G.hn product lines. Pursuant to the Purchase Agreement, Seller sold to Buyer all of the issued and outstanding shares of Sigma Israel for $28,000,000, payable in cash, and adjusted for Sigma Israel&rsquo;s cash and debt at closing and other adjustments for fluctuations in working capital. The consideration paid at closing and received by the Company was $23,464,101. This amount included a deduction of $335,599 in purchase price adjustments for fluctuations in working capital, and excluded $4,200,000 which is being held in escrow subject to customary adjustments after closing.</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">The terms of the Transaction are set forth in <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Purchase Agreement, attached as Exhibit 2.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission on February 7, 2018</font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">. </font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<div id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%">&nbsp;</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>SIGNATURES </b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;text-indent:0;font-family:Times New Roman, Times, serif;font-size:10pt;">

		<tr>
			<td style="vertical-align: top; width: 44%;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td style="vertical-align: top; width: 4%;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td colspan="2" style="vertical-align: top; width: 3%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>SIGMA DESIGNS</b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"><b>, INC.</b></font></p>
			</td>
			<td style="vertical-align: top; width: 12%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 44%;">&nbsp;</td>
			<td colspan="2" style="vertical-align: middle; width: 1%;">&nbsp;</td>
			<td colspan="2" style="vertical-align: middle; width: 1%;">&nbsp;</td>
			<td colspan="1" style="vertical-align: middle; width: 35%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 12%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 44%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Date: <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">February&nbsp;15, 2018</font></p>
			</td>
			<td style="vertical-align: bottom; width: 1%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td style="vertical-align: top; width: 4%;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td style="vertical-align: top; width: 3%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">By:</p>
			</td>
			<td style="vertical-align: top; width: 35%; border-bottom: thin solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">/s/ <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Elias Nader</font></p>
			</td>
			<td style="vertical-align: top; width: 12%; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 44%;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td style="vertical-align: top; width: 4%;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td style="vertical-align: top; width: 3%;">&nbsp;</td>
			<td style="vertical-align: top; width: 35%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Elias Nader</p>

			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Interim President and Chief Executive Officer and <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Chief Financial Officer</font></p>
			</td>
			<td style="vertical-align: top; width: 12%;">&nbsp;</td>
		</tr>

</table>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
</body>
</html>
[{"type": "8-K", "sequence": "1", "filename": "sigm20180215_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 19018}]
{"company-data": {"conformed-name": "SIGMA DESIGNS INC", "cik": "0000790715", "assigned-sic": "3674", "irs-number": "942848099", "state-of-incorporation": "CA", "fiscal-year-end": "0130"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-32207", "film-number": "18619681"}, "business-address": {"street1": "1778 MCCARTHY BLVD.", "city": "MILPITAS", "state": "CA", "zip": "95035", "phone": "4082629003"}, "mail-address": {"street1": "1778 MCCARTHY BLVD.", "city": "MILPITAS", "state": "CA", "zip": "95035"}}
sigm20180215_8k.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington
, DC 20549
FORM 8
-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
February
15, 2018
Date of Report (date of earliest event reported)
Sigma Designs, Inc.
(Exact name of Registrant as specified in its charter)
California
00
1
-
322
0
7
94-2848099
(State or other jurisdiction of
incorporation or organization)
(Commission File Number)
(I.R.S. Employer
Identification Number)
47467 Fremont Blvd.
Fremont, California 94538
(Address of principal executive offices)
(
510) 897-0200
(Registrant
's telephone number, including area code)
(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):
[  ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[
] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in 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
☐
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
2
.01
.
Completion of Acquisition or Disposition of Assets
On
February 15, 2018, Sigma Designs, Inc. (the "Company") along with its direct wholly-owned subsidiary, Sigma Designs Technology Singapore Pte. Ltd., a company organized under the laws of Singapore ("Seller"), completed the previously announced sale (the "Transaction") of all of the issued and outstanding shares of Sigma Designs Israel S.D.I Ltd. a company organized under the laws of Israel and a wholly-owned Subsidiary of Seller ("Sigma Israel"), pursuant to the terms of that certain Share Purchase Agreement (the "Purchase Agreement"), dated February 6, 2018, with Integrated Silicon Solution (Cayman), Inc., a company organized under the laws of the Cayman Islands ("Buyer"). Sigma Israel conducts the Company's Media Connectivity business, consisting primarily of the Company's HomePNA and G.hn product lines. Pursuant to the Purchase Agreement, Seller sold to Buyer all of the issued and outstanding shares of Sigma Israel for $28,000,000, payable in cash, and adjusted for Sigma Israel's cash and debt at closing and other adjustments for fluctuations in working capital. The consideration paid at closing and received by the Company was $23,464,101. This amount included a deduction of $335,599 in purchase price adjustments for fluctuations in working capital, and excluded $4,200,000 which is being held in escrow subject to customary adjustments after closing.
The terms of the Transaction are set forth in
Purchase Agreement, attached as Exhibit 2.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission on February 7, 2018
.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
SIGMA DESIGNS
, INC.
Date:
February 15, 2018
By:
/s/
Elias Nader
Elias Nader
Interim President and Chief Executive Officer and
Chief Financial Officer