<SEC-DOCUMENT>0001193125-25-055823.txt : 20250318
<SEC-HEADER>0001193125-25-055823.hdr.sgml : 20250318
<ACCEPTANCE-DATETIME>20250318061815
ACCESSION NUMBER:		0001193125-25-055823
CONFORMED SUBMISSION TYPE:	424B7
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20250318
DATE AS OF CHANGE:		20250318

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Digimarc CORP
		CENTRAL INDEX KEY:			0001438231
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373]
		ORGANIZATION NAME:           	06 Technology
		IRS NUMBER:				262828185
		STATE OF INCORPORATION:			OR
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B7
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-258584
		FILM NUMBER:		25746447

	BUSINESS ADDRESS:	
		STREET 1:		8500 SW CREEKSIDE PLACE
		CITY:			BEAVERTON
		STATE:			OR
		ZIP:			97008
		BUSINESS PHONE:		503-469-4800

	MAIL ADDRESS:	
		STREET 1:		8500 SW CREEKSIDE PLACE
		CITY:			BEAVERTON
		STATE:			OR
		ZIP:			97008

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DMRC CORP
		DATE OF NAME CHANGE:	20080620
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B7
<SEQUENCE>1
<FILENAME>d903180d424b7.htm
<DESCRIPTION>424B7
<TEXT>
<HTML><HEAD>
<TITLE>424B7</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE" STYLE="line-height:Normal">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="51%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>PROSPECTUS SUPPLEMENT</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"><B>Filed Pursuant to Rule 424(b)(7)</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">(To Prospectus dated August&nbsp;20, 2021)</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><B>Registration <FONT STYLE="white-space:nowrap">No.&nbsp;333-258584</FONT></B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>DIGIMARC CORPORATION </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g903180g0318021258066.jpg" ALT="LOGO" STYLE="width:3.06528in;height:0.434722in;">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>3,740,240 Shares of Common Stock </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This prospectus supplement updates and amends the selling securityholders information contained in the prospectus, dated August&nbsp;20, 2021
(as supplemented, the &#147;Prospectus&#148;), which forms a part of our Registration Statement on Form <FONT STYLE="white-space:nowrap">S-3</FONT> (Registration <FONT STYLE="white-space:nowrap">No.&nbsp;333-258584).</FONT> The Prospectus originally
registered for resale up to 3,740,240 shares of our common stock held by TCM Strategic Partners L.P. (&#147;TCM&#148;), and following distributions of 1,385,147 of such shares to the limited partners of TCM, this prospectus supplement relates to the
resale from time to time of up to 2,355,093 remaining shares by TCM and 32,081 shares by TCM Strategic L.P. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This prospectus supplement
should be read in conjunction with the Prospectus. This prospectus supplement is not complete without, and may not be utilized except in connection with, the Prospectus, including any amendments or supplements thereto. If there is any inconsistency
between the information in the Prospectus and this prospectus supplement, you should rely on the information in this prospectus supplement. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:12pt; font-family:Times New Roman"><B>Investing in
our Common Stock involves risks that are described in the &#147;Risk Factors&#148; section beginning on <A HREF="http://www.sec.gov/Archives/edgar/data/1565687/000114036123025025/ny20009143x2_s3asr.htm#tRF">page 2</A> of the Prospectus and in the
documents incorporated by reference in the Prospectus. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Neither the Securities and Exchange Commission nor any state securities
commission has approved or disapproved of these securities or determined if the Prospectus or this prospectus supplement is truthful or complete. Any representation to the contrary is a criminal offense. </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>The date of this prospectus supplement is March&nbsp;17, 2024. </B></P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SELLING SECURITYHOLDERS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following information, presented as of March&nbsp;17, 2025, is being provided to update the selling securityholder table in the Prospectus to reflect the
distribution of 1,385,147 shares in the aggregate by TCM Strategic Partners L.P. that were originally included in the Prospectus. The percentage of shares beneficially owned prior to, and after, the offering is based on 21,548,110 shares of common
stock outstanding as of March&nbsp;17, 2025. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="59%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; "><B>Selling Securityholder and Addresses</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Shares <BR>Beneficially<BR>Owned <BR>Prior to <BR>This&nbsp;Offering</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Maximum <BR>Number of<BR>shares of <BR>Common <BR>Stock to <BR>be Sold <BR>Pursuant <BR>to this <BR>Prospectus</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Number&nbsp;of<BR>shares of<BR>Common<BR>Stock <BR>Owned <BR>After <BR>Offering&nbsp;(3)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Percentage&nbsp;of<BR>Common <BR>Stock <BR>Owned <BR>After <BR>Offering (3)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">TCM Strategic Partners L.P. <SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">2,355,093</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">2,355,093</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">*&#8195;&#8195;</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">TCM Strategic L.P. <SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">32,081</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">32,081</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">*&#8195;&#8195;</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Less than one percent. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The securities are directly held by TCM Strategic Partners L.P., a Delaware limited partnership, and may be
deemed to be indirectly beneficially owned by Riley McCormack. The address of TCM Strategic Partners L.P. is 8500 SW Creekside Place, Beaverton, OR 97008, attention: Riley McCormick. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The securities are directly held by TCM Strategic L.P., and may be deemed to be indirectly beneficially owned
by Riley McCormack. The address of TCM Strategic L.P. is 8500 SW Creekside Place, Beaverton, OR 97008, attention: Riley McCormick. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Assumes the sale of shares offered pursuant to this prospectus. </P></TD></TR></TABLE>
</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g903180g0318021258066.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g903180g0318021258066.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1"  I 2(# 2(  A$! Q$!_\0
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+>FHJXM%%%!1__]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
