<SEC-DOCUMENT>0001144204-19-032862.txt : 20190628
<SEC-HEADER>0001144204-19-032862.hdr.sgml : 20190628
<ACCEPTANCE-DATETIME>20190628063014
ACCESSION NUMBER:		0001144204-19-032862
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20190624
ITEM INFORMATION:		Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
FILED AS OF DATE:		20190628
DATE AS OF CHANGE:		20190628

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			JAKKS PACIFIC INC
		CENTRAL INDEX KEY:			0001009829
		STANDARD INDUSTRIAL CLASSIFICATION:	GAMES, TOYS & CHILDREN'S VEHICLES (NO DOLLS & BICYCLES) [3944]
		IRS NUMBER:				954527222
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35448
		FILM NUMBER:		19927268

	BUSINESS ADDRESS:	
		STREET 1:		2951 28TH STREET
		CITY:			SANTA MONICA
		STATE:			CA
		ZIP:			90405
		BUSINESS PHONE:		424-268-9444

	MAIL ADDRESS:	
		STREET 1:		2951 28TH STREET
		CITY:			SANTA MONICA
		STATE:			CA
		ZIP:			90405
</SEC-HEADER>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 OR 15(d) of </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>The Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Date of Report (Date of earliest event reported):
<B>June 24, 2019</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>JAKKS PACIFIC,
INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of registrant as specified in its
charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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    <TD STYLE="vertical-align: top; text-align: center; width: 32%"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; width: 32%"><FONT STYLE="font-size: 10pt"><B>0-28104 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; width: 32%"><FONT STYLE="font-size: 10pt"><B>95-4527222</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">(State or other jurisdiction<BR>
of incorporation)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Commission</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">File Number)</P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">(IRS Employer<BR>
Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 41%; padding: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>2951 28 <SUP>th </SUP>Street, Santa Monica, California</B></FONT></TD>
    <TD STYLE="width: 25%; padding: 0; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 34%; padding: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>90405</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font-size: 10pt">(Address of principal executive offices)</FONT></TD>
    <TD STYLE="padding: 0; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font-size: 10pt">(Zip Code)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">Registrant&rsquo;s telephone number, including
area code: <B>(424) 268-9444</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; background-color: white">Securities registered or to be registered
pursuant to Section&nbsp;12(b) of the Act:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="white-space: nowrap; border: black 1pt solid; padding-left: 8pt; text-align: center; width: 37%"><FONT STYLE="font-size: 10pt"><B>Title of each class</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: center; width: 22%"><FONT STYLE="font-size: 10pt"><B>Trading Symbol</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2pt; text-align: center; width: 37%"><FONT STYLE="font-size: 10pt"><B>Name of each exchange on which registered</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Common Stock, $.001 par value</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>JAKK</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-left: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 2pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>NASDAQ Global Select Market</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">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:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="white-space: nowrap; width: 2%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 96%"><FONT STYLE="font-size: 10pt">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Indicate by check mark whether the registrant is an emerging
growth company as defined in as defined in Rule&nbsp;405 of the Securities Act of 1933 (&sect; 230.405 of this chapter) or Rule&nbsp;12b-2
of the Securities Exchange Act of 1934 (&sect; 240.12b-2 of this chapter).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Emerging growth company&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">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&nbsp;13(a)&nbsp;of the Exchange Act.&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 1in; padding: 0; text-indent: 0"><B>Item 3.01.</B></TD>
    <TD STYLE="padding: 0; text-indent: 0"><B>Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">On June 24, 2019, JAKKS Pacific, Inc. (the &ldquo;Company&rdquo;)
received written notice from the Listing Qualifications Staff of The NASDAQ Stock Market LLC (&ldquo;NASDAQ&rdquo;) notifying the
Company that its common shares, no par value, closed below the $1.00 per share minimum bid price required by NASDAQ Listing Rule
5450(a)(1) for 30 consecutive business days. NASDAQ&rsquo;s notice has no immediate effect on the listing or trading of the Company&rsquo;s
common shares, which will continue to trade on NASDAQ under the symbol &ldquo;JAKK&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">In accordance with NASDAQ Listing Rule 5810(c)(3)(A), the Company
has an automatic period of 180 calendar days, or until December 23, 2019, and may be eligible for additional time, to achieve compliance
with the minimum bid price requirement. The Company will regain compliance with the minimum bid price requirement if at any time
before December 23, 2019, the bid price for the Company&rsquo;s common shares closes at $1.00 per share or above for a minimum
of 10 consecutive business days. The Company can also seek stockholder approval of a reverse stock split, which would have to be
completed by December 6, 2019 in order to regain compliance, but there can be no assurance that a reverse stock split would be
approved by stockholders and implemented by that date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">As previously described in the Current Report on Form 8-K dated
February 26, 2019 and the Current Report on Form 8-K dated May 9, 2019, the Special Committee of the Company&rsquo;s Board of Directors
(the &ldquo;Special Committee&rdquo;) engaged in discussions and negotiations with Hong Kong Meisheng Cultural Company Limited
(&ldquo;Meisheng&rdquo;), regarding a purchase by Meisheng of sufficient newly issued shares of the Company&rsquo;s common stock
such that Meisheng would own 51% of the Company&rsquo;s outstanding shares, and with Oasis Investments II Master Fund Ltd. (&ldquo;Oasis&rdquo;)
and an ad hoc group of holders (the &ldquo;Ad Hoc Group&rdquo;) of the 4.875% convertible senior notes due 2020 (the &ldquo;2020
Notes&rdquo;) issued by the Company concerning, among other things, the Meisheng proposal and extension of maturities of the Company&rsquo;s
convertible senior notes. The Company is still awaiting notification from Meisheng regarding the status of certain approvals needed
to advance the aforementioned transactions, including approvals from Chinese regulatory bodies. As a result, no executed and binding
agreements related to these transactions (including any commitment letter, term sheet, or similar agreement) have been reached
with Meisheng, any member of the Ad Hoc Group, any other holders of the 2020 Notes or Oasis regarding the Meisheng transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">As previously announced in the Current Report on Form 8-K dated
May 9, 2019, the Company reached an agreement in principle with the Ad Hoc Group and Oasis with respect to an alternative transaction,
in lieu of the Meisheng proposal, that contemplates the extension or refinancing of the Credit Agreement and other ancillary documents
and agreements with Wells Fargo, retirement of the Term Loan with GACP Finance Co., LLC, the retirement or refinancing of the Term
Loan, and the provision of incremental liquidity to the Company, and the amendment and extension of the Company&rsquo;s convertible
senior notes due 2020 issued to Oasis. The alternative transaction contemplates an investment by holders of the 2020 Notes to exchange
into a new secured debt instrument, plus the issuance of significant equity, including preferred equity, to exchanging holders.
The foregoing is only a summary of the alternative transaction proposal and is not intended to be a complete description of all
of the terms and conditions thereof, including the potential significant dilution that could occur as a result of the issuance
of new equity contemplated by the alternative transaction and changes to the composition of the independent members of the Company&rsquo;s
Board of Directors. The Company and the Ad Hoc Group are continuing to negotiate definitive documentation for an alternative transaction,
but no executed and binding agreements (including any commitment letter, term sheet, or similar agreement) have been reached with
Wells Fargo or any other lender, any member of the Ad Hoc Group, any other holder of the 2020 Notes, or Oasis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">As a result of the delays in concluding the Meisheng transaction
and the alternative transaction with the Ad Hoc Group, and as announced in the Quarterly Report on Form 10-Q dated May 9, 2019,
the Company has continued to explore alternative transactions with the support of Jefferies LLC. As a result of such efforts, the
Company recently received a confidential non-binding expression of interest to acquire all of the shares of the Company for an
indicated price of $.80 per share on a fully diluted basis. The Company and its advisors have engaged in discussions with the interested
party regarding the non-binding proposal and have commenced furnishing information to such party in connection with due diligence
activities. Such discussions are still in their early stages and no agreements or understandings have been reached with respect
to such proposal and such indicated price may also change in a final offer, if made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Company is continuing to pursue all of the foregoing alternative
transactions. No assurance can be given that the ongoing discussions and negotiations will result in a consummation of a transaction
with any of the parties identified above, or with any other party, and that even if a transaction is consummated that its final
terms will resemble the terms described above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, as amended, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by
the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0">JAKKS PACIFIC, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; width: 50%">&nbsp;</TD>
    <TD STYLE="padding: 0; width: 3%">&nbsp;</TD>
    <TD STYLE="padding: 0; width: 47%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0">&nbsp;</TD>
    <TD STYLE="padding: 0">&nbsp;</TD>
    <TD STYLE="padding: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0">&nbsp;</TD>
    <TD STYLE="padding: 0">By:</TD>
    <TD STYLE="padding: 0"><U>/s/ Brent Novak</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0">&nbsp;</TD>
    <TD STYLE="padding: 0">&nbsp;</TD>
    <TD STYLE="padding: 0">Brent Novak, CFO</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Date:&nbsp;&nbsp;June 28, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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