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ONVI > SEC Filings for ONVI > Form 8-K on 2-Apr-2013All Recent SEC Filings

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Form 8-K for ONVIA INC


Entry into a Material Definitive Agreement, Other Events, Financial Statements and Exhi

Item 1.01 Entry into a Material Definitive Agreement.

On April 2, 2013, Onvia, Inc., a Delaware corporation (the "Company") entered into a stock purchase agreement (the "Stock Purchase Agreement") with Symphony Technology Group, LLC and certain of its affiliates (the "Repurchase Stockholders") to repurchase shares of the Company's common stock, par value $0.0001 (the "Common Stock") directly from the Repurchase Stockholders (the "Share Repurchase") in a private, non-underwritten transaction. Under the terms of the agreement, the Company has repurchased from the Repurchase Stockholders 1,242,781 shares of the Common Stock at a price of $3.50 per share for a total purchase price of approximately $4.3 million.

The foregoing discussion of the Stock Purchase Agreement is qualified in its entirety by the complete text of the Stock Purchase Agreement, a copy of which is attached as Exhibit 10.1 and incorporated herein by reference.

Item 8.01 Other Events.

On April 2, 2013, the Company issued a press release announcing the execution of the Stock Purchase Agreement and the consummation of the Share Repurchase. A copy of the press release is attached as Exhibit 99.1 and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.                                  Description

   10.1           Stock Purchase Agreement, dated as of April 2, 2013, by and among
                  Onvia, Inc., Symphony Technology Group, LLC and certain
                  affiliates of Symphony Technology Group, LLC.

   99.1           Press release issued by Onvia, Inc. on April 2, 2013.

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