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Seachange International Inc. - SEAC STOCK NEWS

Welcome to our dedicated news page for Seachange International (Ticker: SEAC), a resource for investors and traders seeking the latest updates and insights on Seachange International.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Seachange International's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Seachange International's position in the market.

News
SeaChange Announces an Agreement to be Acquired by Enghouse and Termination of Previously Announced Proposed Acquisition by Partner One
Rhea-AI Summary
SeaChange International, Inc. has announced an agreement with Enghouse Systems for the sale of its assets for $39 million, resulting in net proceeds of $21 to $23 million. The acquisition is subject to shareholder approval and expected to close in early May 2024, following the termination of a previous acquisition agreement with Partner One. SeaChange's CEO, Chris Klimmer, expressed confidence in Enghouse's ability to scale the business. A significant stockholder owning 30.5% of SeaChange's shares has agreed to vote in favor of the Enghouse deal. SeaChange will pay a $1.3 million termination fee to Enghouse for the previous agreement with Partner One. The Special Meeting of Stockholders has been adjourned to April 26, 2024, to vote on the Enghouse Asset Sale.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
29.41%
Tags
acquisition
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News
SeaChange Announces a Second Amendment to Purchase Agreement with Partner One Along with Further Increased Purchase Price
Rhea-AI Summary
SeaChange International, Inc. announces a second amendment to the purchase agreement with Partner One, increasing the purchase price to $34,001,000. The acquisition proposal from a third party led to this amendment, with Partner One acquiring SeaChange's assets related to its product and services business. The Second Amended Asset Sale is expected to result in net proceeds of $17-19 million for SeaChange. The Special Meeting of Stockholders has been adjourned to April 22, 2024, to consider the approval of the sale.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
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Tags
partnership
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News
SeaChange Announces an Amended Purchase Agreement with Partner One Along with an Increased Purchase Price as Go-Shop Period Ends
Rhea-AI Summary
SeaChange International, Inc. (SEAC) announces an Amendment to the Purchase Agreements with Partner One, increasing the purchase price to $32,001,000. The Amended Asset Sale is expected to result in net proceeds of $15-17 million for SeaChange. The transaction, subject to closing conditions, is anticipated to close by the end of April 2024.
Rhea-AI Impact
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End-of-Day
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partnership
News
SeaChange to be Acquired by Partner One
Rhea-AI Summary
SeaChange International, Inc. announces the sale of its assets to Partner One for $30 million, expecting net proceeds of $13-15 million. The transaction aims to enhance offerings for customers in the video delivery, advertising, and streaming markets.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
174.29%
Tags
acquisition
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News
SeaChange Reports Estimated and Unaudited Preliminary Fiscal Third Quarter and Nine Month Fiscal 2024 Financial Results
Rhea-AI Summary
SeaChange International, Inc. (OTCPK: SEAC) has presented estimated and unaudited preliminary financial results for the three and nine months ended October 31, 2023. The company reported total revenue of approximately $6.6 million for the third quarter, with a GAAP net loss of approximately $0.1 million and adjusted EBITDA of approximately $0.2 million. For the nine-month period, total revenue was approximately $20.7 million, with a GAAP net loss of approximately $2.1 million and an adjusted EBITDA loss of approximately $0.3 million. The company also announced a stock repurchase program, authorizing the repurchase of up to 750,000 shares of common stock with a cap of $2.25 million.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
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earnings
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News
Univer Video Selects SeaChange to Boost Global Campaign with OTT Relaunch
Rhea-AI Summary
SeaChange International (SEAC) and Univer Video announced the relaunch of Univer’s global streaming service with SeaChange’s streaming enablement platform, StreamVid. The relaunched service will feature a vast exclusive video library, two additional live channels, and a new user experience with advanced content discovery and search services. Univer Video will leverage StreamVid’s support for multiple languages, currencies, and payment options to introduce the service from Brazil to international markets.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.69%
Tags
none
News
FOX Sports Mexico and SeaChange Demonstrate the Future of Live Sports in Dolby Vision and Dolby Atmos at Nextv Miami
Rhea-AI Summary
SeaChange International, FOX Sports Mexico, and Dolby Laboratories are showcasing the future of live sports in Dolby Vision and Dolby Atmos at Nextv Miami. The demonstration will highlight how these technologies enhance the viewing experience of live sports through FOX Sports Mexico's Streaming App. The companies aim to provide viewers with a transformative and immersive experience.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
7.5%
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none
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News
SeaChange Appoints Chris Klimmer CEO
Rhea-AI Summary
SeaChange International promotes Chris Klimmer to President, CEO, and Board member, recognizing his role in the company's operational and financial turnaround. Klimmer has achieved double-digit revenue growth and positive non-GAAP EBITDA for the first time in nearly a decade. He has strengthened customer engagements, expanded the product and services portfolio, and secured new Tier 1 logos globally. Klimmer plans to leverage advancements in AI and Web 3.0 to maximize revenue opportunities and capitalize on trends like interactive personalized advertising and metaverse experiences.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.22%
Tags
management
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News
SeaChange Adopts Tax Benefits Preservation Plan to Protect Tax Assets
Rhea-AI Summary
SeaChange International, Inc. adopts Tax Benefits Preservation Plan to protect and preserve its net operating loss carryforwards and other tax assets. The Company had US federal NOLs of approximately $131 million as of January 31, 2023. The Plan is similar to the previous one and aims to prevent an 'ownership change' that could limit the use of NOLs. The Board declared a dividend of one preferred share purchase right on each outstanding share of Common Stock. The Rights will become exercisable if any person or group acquires 4.9% or more of Common Stock. The Rights entitle holders to purchase additional shares at a discount, resulting in dilution to the Acquiring Person. The Rights will expire on August 16, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.22%
Tags
none
News
SeaChange Announces Voluntary SEC Deregistration and Nasdaq Delisting
Rhea-AI Summary
SeaChange International, Inc. has announced its decision to deregister its common stock with the SEC and delist it from Nasdaq. The company aims to save money and focus on its standalone plan, which it believes will generate more value for its stockholders. The voluntary delisting is expected to save SeaChange over $3 million annually. The company will continue to be quoted on the OTC Expert Market.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-40.53%
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none
Stock SEAC logo
Seachange International Inc.

OTC:SEAC

SEAC Rankings

N/A Ranked by Market Cap
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SEAC Stock Data

11.01M
1.72M
35.33%
7.09%
3.08%
Radio and Television Broadcasting and Wireless Communications Equipment Manufacturing
Manufacturing
Link
US
Waltham

About SEAC

enabling our customers to deliver billions of premium video streams across a matrix of pay-tv and ott platforms, seachange (nasdaq: seac) empowers service providers, broadcasters, content owners and brand advertisers to entertain audiences, engage consumers and expand business opportunities. as a three-time emmy award-winning organization with over 20 years of experience, we give media businesses the content management, delivery, measurement and analytics capabilities they need to craft an individualized branded experience for every viewer that sets the pace for quality and value worldwide. visit www.schange.com.