MoneyGram International Inc.

03/08/2021 | Press release | Distributed by Public on 03/08/2021 16:29

Current Report (SEC Filing - 8-K)

mgi-20210307

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________
FORM 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): March 7, 2021

MoneyGram International, Inc.
_________________________________________________
(Exact name of registrant as specified in its charter)
Delaware 1-31950 16-1690064
(State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification Number)
2828 N. Harwood Street, 15th Floor
Dallas, Texas 75201
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (214) 999-7552
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:
☐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))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common stock, $0.01 par value MGI The NASDAQ Stock Market LLC
Preferred Stock Purchase Rights N/A 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 ☐
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 8.01 Other Events.
On March 7, 2021, MoneyGram International, Inc. (the 'Company') and Ripple Labs Inc. signed an agreement to terminate, effective immediately, the commercial agreement between the parties that was originally entered into in June of 2019. As previously disclosed, the Company had ceased transacting under the commercial agreement in early December 2020. The Company did not resume transacting under the commercial agreement from that period through the termination date and as such, will not receive any market development fees in 2021.
Forward-Looking Statements
The information set forth in this Current Report contains forward-looking statements which are protected as forward-looking statements under the Private Securities Litigation Reform Act of 1995 that are not limited to historical facts, but reflect the Company's current beliefs, expectations or intentions regarding future events and speak only as of the date they are made. Words such as 'may,' 'might,' 'will,' 'could,' 'should,' 'would,' 'expect,' 'plan,' 'project,' 'intend,' 'anticipate,' 'believe,' 'estimate,' 'predict,' 'potential,' 'pursuant,' 'target,' 'forecast,' 'outlook,' 'continue,' 'currently,' and similar expressions are intended to identify such forward-looking statements. The statements in this Current Report that are not historical statements are forward-looking statements within the meaning of the federal securities laws. Specific forward-looking statements include, among others, statements regarding the Company's projected results of operations and specific factors expected to impact the Company's results of operations. Forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict and many of which are beyond the Company's control, which could cause actual results to differ materially from the results expressed or implied by the statements.

Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to time in the Company's SEC filings. Such SEC filings may be obtained by contacting the Company, through the Company's website at ir.moneygram.com or through the SEC's Electronic Data Gathering and Analysis Retrieval System (EDGAR) at http://www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statement.


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.
MONEYGRAM INTERNATIONAL, INC.
Date:
March 8, 2021
By:
/s/ Robert L. Villasenor
Name: Robert L. Villasenor
Title: General Counsel, Corporate Secretary and Chief Administrative Officer