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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): November 03, 2023

AGILYSYS, INC.

(Exact name of Registrant as Specified in Its Charter)


Delaware	000-5734	34-0907152
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

3655 Brookside Parkway Suite 300
Alpharetta, Georgia		30022
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s Telephone Number, Including Area Code: 770 810-7800

(Former Name or Former Address, if Changed Since Last Report)

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:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, without par value	AGYS	Nasdaq Global Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

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 13(a) of the Exchange Act. ☐

Item 8.01 Other Events.

On November 3, 2023, Agilysys, Inc. (the “Company”) issued a press release announcing that it had delivered a notice of mandatory conversion (the “Notice”) to the holders of the Company’s 5.25% Series A Convertible Preferred Stock, no par value (the “Convertible Preferred Stock”). Pursuant to the Notice, the Company is exercising its right to mandatorily convert all outstanding Convertible Preferred Stock, effective on November 24, 2023. A copy of the press release announcing the Mandatory Conversion is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits.

Exhibits. The following item is furnished as an exhibit to this current report on Form 8-K:


Exhibit Number		Description
99.1		Press release issued by Agilysys, Inc. dated November 3, 2023.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

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.


			AGILYSYS, INC.

Date:	November 3, 2023	By:	/s/ Kyle C. Badger
			Kyle C. Badger Senior Vice President, General Counsel and Secretary

EX-99.1 2 agys-ex99_1.htm EX-99.1 EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

Agilysys Announces Mandatory Conversion Date

for Series A Convertible Preferred Stock

ALPHARETTA, GA – NOVEMBER 3, 2023 – Agilysys, Inc. (Nasdaq: AGYS) announced today that it has delivered a notice of mandatory conversion to the holders of its 5.25% Series A convertible preferred stock.

This notice informs convertible preferred stock shareholders that Agilysys has exercised its right to mandate that all outstanding shares of convertible preferred stock convert to shares of Agilysys common stock, as detailed in the Certificate of Designation of 5.25% Series A Convertible Preferred Shares of Agilysys, Inc.

The conversion will be effective November 24, 2023, and the scheduled settlement is November 28, 2023.

As set forth in the Certificate of Designation, holders of convertible preferred stock have the option to convert those shares to Agilysys common stock before the mandatory conversion date if done before the close of business November 21, 2023, the second business day immediately preceding the mandatory conversion date.

As of the November 3 notice, preferred shares can be converted into common shares at $20.1676 and the liquidation preference was $20.1676. No CUSIP or ISIN number was assigned for the convertible preferred shares.

Any shares of convertible preferred stock not converted to common shares by the mandatory conversion date will no longer be deemed outstanding and all holder rights for those shares, including dividend accruals, will terminate.

About Agilysys

Agilysys exclusively delivers state-of-the-art software solutions and services that help organizations achieve High Return Hospitality™ by maximizing Return on Experience (ROE) through interactions that make ‘personal’ profitable. Customers around the world use Agilysys Property Management Systems (PMS), Point-of-Sale (POS) and F&B Inventory and Procurement (I&P) solutions to consistently delight guests, retain staff and grow margins. Agilysys’ 100% hospitality customer base includes branded and independent hotels; multi-amenity resorts; casinos; property, hotel and resort management companies; cruise lines; corporate dining providers; higher education campus dining providers; food service management companies; hospitals; lifestyle communities; senior living facilities; stadiums; and theme parks. www.agilysys.com.

Investor Contact:

Jessica Hennessy

Senior Director Corporate Strategy & Investor Relations

Agilysys, Inc.

770-810-6116 or investorrelations@agilysys.com

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