Report of Foreign Issuer (6-k)
June 01 2018 - 12:23PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE
ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of
June, 2018
Commission File Number
001-334229
Acorn
International, Inc.
(Registrant’s name)
19/F, 20
th
Building, 487 Tianlin Road, Shanghai 200233, People’s Republic of China
(Address of principal
executive office)
Indicate by check mark whether the
registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F
x
Form 40-F
¨
Indicate by check mark if the registrant is submitting
the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____
Indicate by check mark if the registrant is submitting
the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____
Explanatory Note
On
May 23, 2018, the Board of Directors (the “Board”) of Acorn International, Inc. (the “Company”) declared
a one-time cash dividend
on
the Company’s ordinary shares of US$0.75 per ordinary
share. This cash dividend is payable June 22, 2018 to shareholders of record on June 4, 2018.
The aggregate amount of cash
dividends payable would be approximately US$40 million.
The Company recently
sold Bright Rainbow Investments Limited, a Hong Kong subsidiary which has a wholly-owned Chinese subsidiary that owned certain
fixed assets that were no longer being used by the Company as a result of its transition to an asset-lite model, in exchange for
cash payment of approximately RMB360 million (US$57 million), subject to a post-closing working capital adjustment (the “Non-Core
Asset Disposal”). Notwithstanding the Non-Core Asset Disposal, the Company has retained and will continue focusing on the
development of its core business operations, including its legacy brands, such as Babaka, and its other existing business units,
as well as new businesses, such as Acorn Fresh and Acorn Entertainment. In this regard, the Company expects to retain at least
US$10 million cash proceeds from the Non-Core Asset Disposal after the payment of the aforesaid cash dividend, which will be available
at the discretion of the Board for business operations and other corporate purposes.
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,
thereunto duly authorized.
Date: June 1, 2018
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Acorn
International, Inc
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By:
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/s/ Jacob Alexander Fisch
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Name:
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Jacob Alexander Fisch
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Title:
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Chief Executive officer
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