UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): July 10, 2023 (
(Exact name of registrant as specified in its charter)
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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).
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| Item 8.01 | Other Events |
On July 3, 2023, the U.S. Securities and Exchange Commission (the “SEC”) announced a settlement with View, Inc. (“View” or the “Company”) resolving the previously-disclosed investigation arising from the Company’s restated warranty-related accruals in its financial statements. In light of View’s self-reporting, prompt remediation and cooperation, the SEC determined not to impose a civil penalty on the Company and there are no ongoing undertakings in connection with the settlement.
As previously reported, on May 31, 2022, View issued a Current Report on Form 8-K that disclosed its total restated year-end 2019 warranty liability as $53 million and its total restated year-end 2020 warranty liability as $48 million. On June 15, 2022, View issued an Annual Report on Form 10-K that marked the completion of the Company’s financial restatement.
On July 5, 2023, the Company issued a press release (the “Press Release”) regarding the settlement with the SEC. A copy of the Press Release is attached hereto as Exhibit 99.1. All of the information in the Press Release is incorporated by reference herein.
| Item 9.01 | Financial Statements and Exhibits |
d) Exhibits.
| 99.1 | Press Release, dated July 5, 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.
| VIEW, INC. | ||||||
| Date: July 10, 2023 |
|
By: | /s/ Bill Krause | |||
| Name: | Bill Krause | |||||
| Title: | Chief Legal Officer | |||||
Exhibit 99.1
View Announces Settlement of Previously Disclosed SEC Investigation
July 5, 2023
SEC declines to Impose Penalties in light of the Company’s Self-Reporting, Prompt Remediation and Cooperation
MILPITAS, Calif., July 05, 2023 (GLOBE NEWSWIRE) — View, Inc. (Nasdaq: VIEW) (“View” or the “Company”) today announced that it has entered into a settlement with the U.S. Securities and Exchange Commission (the “SEC”), resolving the previously disclosed SEC investigation arising from the Company’s restated warranty-related accruals in its financial statements. In light of View’s self-reporting, prompt remediation and cooperation, the SEC determined not to impose a civil penalty on the Company and there are no ongoing undertakings in connection with the settlement.
On May 31, 2022, View issued a Current Report on Form 8-K that disclosed its total restated year-end 2019 warranty liability as $53 million and its total restated year-end 2020 warranty liability as $48 million. On June 15, 2022, View issued an Annual Report on Form 10-K that marked the completion of the Company’s financial restatement.
About View
View is the leader in smart building technologies that transform buildings to improve human health and experience, reduce energy consumption and carbon emissions, and generate additional revenue for building owners. View Smart Windows use artificial intelligence to automatically adjust in response to outdoor conditions, eliminating the need for blinds and increasing access to natural light. Every View installation includes a cloud-connected smart building platform that can easily be extended to reimagine the occupant experience. View’s products are installed in offices, apartments, airports, hotels, and educational facilities. For more information, please visit: www.view.com.
For further information:
Investors:
View, Inc.
IR@View.com
408-493-1358