Item 8.01. Other Events.
On June 12, 2020, NTN Buzztime, Inc. (the "Company") entered into a non-binding
letter of intent for a potential strategic transaction with a third party. The
letter of intent is only a mutual indication of interest in the potential
transaction by both parties and does not represent any legally binding
commitment or obligation on the part of either party with respect to the
potential transaction. The terms of the potential transaction, if any, are
subject to a number of contingencies, including the performance of due diligence
and the negotiation and execution of a definitive agreement. No assurances are,
or can be given, that the parties will enter into a definitive agreement for the
potential transaction, or that even if such agreement is entered into, that the
potential transaction will be consummated. Entering into the letter of intent
was a product of the Company's previously announced strategic process. The
Company does not intend to disclose additional details regarding the strategic
process, or the letter of intent, unless and until further disclosure is
appropriate or necessary.
Forward-looking Statements
This report contains forward-looking statements that reflect the Company's
management's current views of future events and operations, including statements
relating to a potential strategic transaction. Forward-looking statements, in
some cases, can be identified by terms such as "believe," "may," "will,"
"estimate," "continue," "anticipate," "design," "intend," "expect," "could,"
"plan," "potential," "predict," "seek," "should," "would," "contemplate,"
project," "target," "tend to," or the negative version of these words and
similar expressions. Forward-looking statements are based on current
expectations and assumptions that are subject to risks and uncertainties. Actual
results could differ materially from those anticipated as a result of various
factors, including that the parties will not enter into a definitive agreement
for the potential transaction, or if they do, that the potential transaction
will not be completed. Additional factors that may affect the Company's
strategy, future operations, future financial position, projected costs,
prospects, plans and objectives are set forth in its filings with the SEC,
including in its Annual Report on Form 10-K filed with the SEC on March 19, 2020
and in its reports on Form 8-K and 10-Q filed with the SEC thereafter. You are
urged to consider these factors carefully in evaluating the forward-looking
statements in this report and are cautioned not to place undue reliance on such
forward-looking statements, which are qualified in their entirety by this
cautionary statement. Unless otherwise required by law, the Company does not
undertake to publicly update or revise any of its forward-looking statements,
even if experience or future changes show that the indicated results or events
will not be realized. Nothing in this report shall be deemed an admission of the
materiality under applicable laws of any of the disclosures set forth herein.
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