UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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| Item 8.01. | Other Events. |
On November 1, 2021, Edenbrook Capital, LLC (“Edenbrook”) filed Amendment No. 6 to Schedule 13D/A, which included as Exhibit 1 a letter to the Board of Directors (the “Board”) of Brightcove Inc. (the “Company”).
On November 9, 2021, the Company’s Chairperson of the Board, Deborah Besemer, sent a letter responding to Edenbrook’s letter. The Chairperson’s response to the letter is attached to this current report as Exhibit 99.1 and is incorporated herein by reference.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit No. |
Description | |
| 99.1 | Letter to Edenbrook Capital, LLC, dated November 9, 2021 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
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.
| Date: November 9, 2021 | Brightcove Inc. | |||||
| By: | /s/ Robert Noreck | |||||
| Robert Noreck | ||||||
| Chief Financial Officer | ||||||
Exhibit 99.1
November 9, 2021
Jonathan Brolin
Founder and Managing Partner
Edenbrook Capital, LLC
116 Radio Circle, Suite 202
Mount Kisco, NY 10549
Dear Jon:
I appreciate you taking the time over the past week to talk to me about Brightcove Inc. and your letter, dated November 1, 2021. As a Board and as a Company, we have always appreciated your longstanding commitment as a Brightcove shareholder, and the relationship we have developed with you over the years. We also deeply appreciate your perspective on the Company and the market in which the Company operates.
As you know, we agree with your assessment that the Company is significantly undervalued in the market. The Board and management believe that meaningful opportunity exists to improve operating results and the Company’s valuation in the market and are pursuing these opportunities with urgency and focus. Likewise, as we discussed, the Board is working expeditiously to retain a new CEO and has retained executive search firm Spencer Stuart to assist the Company in this search. This is a top priority for the Board and we understand the urgency to have a new CEO in place as soon as possible. Finally, the Board fully understands its fiduciary responsibilities and continues to be highly focused on maximizing shareholder value.
Thank you again for your years of support and your commitment to the Company. We look forward to continued dialogue with you in the future.
| Sincerely, |
| /s/ Deborah Besemer |
| Deborah Besemer |
| Chairperson of the Board |
290 Congress Street, 4th Floor, Boston, MA 02210 tel 888.882.1880 fax 617.261.4830 brightcove.com