Exhibit 25

 

Registration No. 333-214321

 

 

 

 securities and exchange commission

Washington, D.C. 20549

 

 

 

FORM T-1

 

Statement of Eligibility Under

The Trust Indenture Act of 1939 of a

Corporation Designated to Act as Trustee

 

Check if an Application to Determine Eligibility of

a Trustee Pursuant to Section 305(b)(2)

  

 

 

U.S. BANK NATIONAL ASSOCIATION

(Exact name of Trustee as specified in its charter)

 

31-0841368

I.R.S. Employer Identification No.

 

800 Nicollet Mall    
Minneapolis, Minnesota   55402
(Address of principal executive offices)   (Zip Code)

 

Bradley E. Scarbrough

U.S. Bank National Association

633 W. 5TH Street, 24th Floor

Los Angeles, CA 90071

(213) 615-6047

(Name, address and telephone number of agent for service)

 

DIGITAL TURBINE, INC.
(Exact name of obligor as specified in its charter)

 

Delaware   22-2267658
(State or other jurisdiction of incorporation or organization)   (I.R.S. Employer Identification No.)

 

1300 Guadalupe Street  
Suite #302    
Austin, TX   78701
(Address of Principal Executive Offices)   (Zip Code)

 

8.75% Convertible Notes due 2020
(Title of the Indenture Securities)

 

 

 

 

FORM T-1

 

Item 1.GENERAL INFORMATION. Furnish the following information as to the Trustee.

 

a)Name and address of each examining or supervising authority to which it is subject.

Comptroller of the Currency

Washington, D.C.

 

b)Whether it is authorized to exercise corporate trust powers.

Yes

 

Item 2.AFFILIATIONS WITH OBLIGOR. If the obligor is an affiliate of the Trustee, describe each such affiliation.

None

 

Items 3-15Items 3-15 are not applicable because to the best of the Trustee's knowledge, the obligor is not in default under any Indenture for which the Trustee acts as Trustee.

 

Item 16.LIST OF EXHIBITS: List below all exhibits filed as a part of this statement of eligibility and qualification.

 

1.A copy of the Articles of Association of the Trustee.*

 

2.A copy of the certificate of authority of the Trustee to commence business, attached as Exhibit 2.

 

3.A copy of the certificate of authority of the Trustee to exercise corporate trust powers, attached as Exhibit 3.

 

4.A copy of the existing bylaws of the Trustee.**

 

5.A copy of each Indenture referred to in Item 4. Not applicable.

 

6.The consent of the Trustee required by Section 321(b) of the Trust Indenture Act of 1939, attached as Exhibit 6.

 

7.Report of Condition of the Trustee as of September 30, 2016 published pursuant to law or the requirements of its supervising or examining authority, attached as Exhibit 7.

 

* Incorporated by reference to Exhibit 25.1 to Amendment No. 2 to registration statement on S-4, Registration Number 333-128217 filed on November 15, 2005.

 

** Incorporated by reference to Exhibit 25.1 to registration statement on form S-3ASR, Registration Number 333-199863 filed on November 5, 2014.

 

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SIGNATURE

 

Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the Trustee, U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility and qualification to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Los Angeles, California on the 23rd day of December, 2016.

 

  By: /s/ Bradley E. Scarbrough
    Bradley E. Scarbrough
    Vice President

 

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Exhibit 2

 

 

 

4

 

 

 

Exhibit 3

 

 

 

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Exhibit 6

 

CONSENT

 

In accordance with Section 321(b) of the Trust Indenture Act of 1939, the undersigned, U.S. BANK NATIONAL ASSOCIATION hereby consents that reports of examination of the undersigned by Federal, State, Territorial or District authorities may be furnished by such authorities to the Securities and Exchange Commission upon its request therefor.

 

Dated: December 23, 2016

 

By:   /s/ Bradley E. Scarbrough
     Bradley E. Scarbrough   
     Vice President

 

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Exhibit 7

U.S. Bank National Association

Statement of Financial Condition

As of 9/30/2016

 

($000’s)

 

   9/30/2016 
Assets     
Cash and Balances Due From  $23,641,632 
Depository Institutions     
Securities   109,767,226 
Federal Funds   38,946 
Loans & Lease Financing Receivables   272,221,647 
Fixed Assets   5,761,293 
Intangible Assets   12,599,811 
Other Assets   24,370,650 
Total Assets  $448,401,205 
      
Liabilities     
Deposits  $345,417,164 
Fed Funds   1,412,924 
Treasury Demand Notes   0 
Trading Liabilities   1,823,679 
Other Borrowed Money   36,430,473 
Acceptances   0 
Subordinated Notes and Debentures   3,800,000 
Other Liabilities   13,542,899 
 Total Liabilities  $402,427,139 
      
Equity     
Common and Preferred Stock   18,200 
Surplus   14,266,915 
Undivided Profits   30,877,711 
Minority Interest in Subsidiaries   811,240 
Total Equity Capital  $45,974,066 
      
Total Liabilities and Equity Capital  $448,401,205 

 

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