Blueprint
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 1-U
CURRENT
REPORT PURSUANT TO REGULATION A
Date of Report (Date of earliest event reported): December 12,
2016
VidAngel, Inc.
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(Exact name of issuer as specified in its charter)
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Delaware
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46-5217451
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(State or other jurisdiction of incorporation or
organization)
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(I.R.S. Employer
Identification No.)
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249 N. University Ave.
Provo, Utah 84601
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(Full mailing address of principal executive offices)
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(760) 933-8437
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(Issuer’s telephone number, including area code)
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Title of each class of securities issued pursuant to Regulation
A:
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Class B Nonvoting Common Stock
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ITEM 9
OTHER EVENTS
Preliminary Injunction
On
December 12, 2016, the United States District Court for the Central
District of California, or the Court, in the matter of Disney
Enterprises, Inc.; Lucasfilm Ltd., LLC; Twentieth Century Fox Film
Corporation and Warner Bros. Entertainment, Inc., or Plaintiffs, v.
VidAngel, Inc., or VidAngel, granted the Plaintiffs’ motion
for preliminary injunction against VidAngel.
The
Court’s preliminary injunction enjoins VidAngel, pending
trial, from: (1) circumventing technological measures protecting
Plaintiffs’ copyrighted works on DVDs, Blu-rays, or any other
medium; (2) copying Plaintiffs’ copyrighted works, including
but not limited to copying the works onto computers or servers; (3)
streaming, transmitting or otherwise publicly performing or
displaying any of Plaintiffs’ copyrighted works over the
Internet, via web applications, via portable devices, via streaming
devices, or by means of any other device or process; or (4)
engaging in any other activity that violates, directly or
indirectly, Plaintiffs’ anti-circumvention right under
Section 1201 of the Copyright Act, 17 U.S.C. Section 1201(a), or
infringing by any means, directly or indirectly, Plaintiffs’
exclusive rights under Section 106 of the Copyright Act, 17 U.S.C.
Section 106.
VidAngel is seeking a stay of the preliminary
injunction pending a ruling on its appeal of the preliminary
injunction. If it is not successful in obtaining a stay, VidAngel
will be required to cease filtering and streaming all movies and
television programs owned or licensed by the Plaintiffs pending a
full trial on the merits, unless it obtains their consent to allow
VidAngel to continue offering its service. If VidAngel is
unsuccessful in obtaining a stay, it will cease filtering and
streaming all movies and television programs owned or licensed by
all content providers under its current sellback model that uses
legally purchased DVD and Blu-Ray discs as the authorized
copy
to avoid exposure to
punitive damages liability in the event it is ultimately
unsuccessful in court, unless such content providers consent to
allow VidAngel to continue offering its service. VidAngel has filed
a notice of appeal of the preliminary injunction. The appeal will
be heard by the Ninth Circuit Court of Appeals on an expedited
basis.
The
foregoing description of the preliminary injunction is a
summary and is qualified in its entirety by the Court’s
order.
Termination of Offering
On
December 12, 2016, VidAngel’s offering of up to $11,250,000
of its Shares of Class B nonvoting common stock, pursuant to its
Offering Statement on Form 1-A (File No. 024-10596), or the
Offering, terminated pursuant to its own terms.
SIGNATURE
Pursuant
to the requirements of Regulation A, the issuer has duly caused
this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
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VidAngel,
Inc.
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By:
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/s/
Neal S.
Harmon
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Neal S.
Harmon
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Chief Executive
Officer and Director
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Dated:
December 16, 2016