Unassociated Document
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of
Report (Date of earliest event reported): June 9, 2008
Customer
Acquisition Network Holdings, Inc.
(Exact
Name of Registrant as Specified in Charter)
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Delaware
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333-141141
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01-0692341
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(State
or other jurisdiction
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(Commission
File Number)
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(IRS
Employer
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of
incorporation)
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Identification
No.)
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200
Park Avenue South
Suite
908-909
New
York, NY
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10003
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code: (954) 712-0000
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(Former
name or former address, if changed since last
report)
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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:
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to
Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement
communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications
pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR
240.13e-4(c)
Item
5.02 Departure
of Directors or Certain Officers; Election of Directors; Appointment
of Certain
Officers; Compensatory Arrangements of Certain Officers.
On
June
9, 2008, Customer Acquistion Network Holdings, Inc.'s (the "Registrant" or
"our") board of directors voted to appoint David Garrity (the “Appointment”)
to
fill an existing vacancy on our board of directors (the “Board”),
subject to Mr. Garrity’s acceptance of such appointment. On June 9, 2008, Mr.
Garrity accepted such appointment and joined our board of directors. As a result
of Mr. Garrity’s acceptance, Mr. Garrity was granted 100,000 options to purchase
our common stock, par value $0.001, pursuant to Registrant's 2007
Incentive Stock and Award Plan (the “Options”).
As
required under the plan, the exercise price of the Options was set at $2.998
per
share, the closing price of our common stock on June 6, 2008. 25% of the Options
will vest on each anniversary of the Appointment. Mr.
Garrity’s biography is provided below.
David
M.
Garrity, CFA, 47, joined our Board on June 9, 2008. From 2006 to the present,
Mr. Garrity has served as Managing Director and Director of Research at Dinosaur
Securities, LLC, located in New York, NY. From 2005 through 2006, Mr. Garrity
served as a Managing Director and
Director of Research for Hapoalim Securities USA, Inc. located in New York,
NY.
From 2004 to 2005, Mr. Garrity served as a Managing Director, Market Strategist
and Internet/IT Services Sector Analyst for Caris & Company located in New
York, NY. From 2002 to 2004 Mr. Garrity served as a Managing Director of the
IT
Services Sector for American Technology Research, Greenwich, CT. From 1999
to
2001, Mr. Garrity was Director and Coordinator of Global Automotive and United
States B2B Software Sector Research of Dresdner Kleinwort Wasserstein located
in
New York, NY. From 1997 to 1998, Mr. Garrity was Executive Director and Senior
Automotive Analyst of CIBC World Markets located in New York, NY. From 1994
to
1997, Mr. Garrity was a Vice President and Senior Automotive Analyst of Salomon
Smith Barney located in New York, NY. Mr. Garrity received a Bachelor of Arts
from the College of
the
Holy Cross, Worcester, MA in June 1983 and received a Master of Management
from
the J. L. Kellogg Graduate School of Management, Evanston, IL in June
1988.
On
May
28, 2008, we engaged Dinosaur Securities LLC (“Dinosaur”),
of
which Mr. Garrity is Managing Director and Director of Research, to act as
placement agent for the private placement of our common stock and warrants.
Pursuant to the engagement, Dinosaur received fees in the amount of $7,000
and
2,800 five-year warrants to purchase our common stock, par value $0.001 per
share, at an exercise price of $2.50.
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 hereunto
duly authorized.
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CUSTOMER
ACQUISITION NETWORK HOLDINGS, INC. |
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| Dated:
June 13, 2008 |
By: |
/s/ Michael
D. Mathews |
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Name:
Michael D. Mathews
Title:
Chief Executive Officer
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