Bioptix, Inc. (NASDAQ:BIOP) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
the Chief Executive Officer of Bioptix, Inc. (the “Company”).
Such resignation was tendered and accepted by the Board of
Directors of the Company (the “Board”). Mr. Lundy’s
resignation was not the result of any disagreement with the
Company, any matter related to the Company’s operations,
policies or practices, the Company’s management or the Board.
Mr. Lundy entered into a separation agreement with the Company
(the “Separation Agreement”). The Separation Agreement is
attached as Exhibit 10.1 to this Form 8-K and is incorporated
herein by reference.
Lundy’s resignation, the Board appointed Michael Beeghley as
Chief Executive Officer. Mr. Beeghley currently serves as the
Chairman of the Board. There is no family relationship between
Mr. Beeghley and any of the Company’s other officers or
directors.
Executive Officer, the Board approved (i) a monthly salary of
$1,500 and (ii) a grant of an option to purchase up to 20,000
shares of the Company’s common stock, at an exercise price equal
to the fair market value on the date of issue, as determined in
accordance with NASDAQ rules, to the Company’s 2016 Equity
Incentive Plan.
appointed officers, as required by Item 401 of Regulation S-K.
healthcare and biopharma industries. Currently, Mr. Beeghley is
Chairman of the Board of Directors of the Company, a Director of
PolarityTE, Inc., a publicly traded (Nasdaq: COOL) biotechnology
company, and President of Applied Economics LLC, a corporate
finance and strategy consulting firm specializing in the
valuation of healthcare and biopharma companies. As President of
Applied Economics, Mr. Beeghley has initiated, managed and closed
over $1 billion in corporate finance transactions and has managed
and completed over 2,000 consulting engagements. Mr. Beeghley
began his career working in the Corporate Finance Group of Ernst
Young and PWC. He received his Master of Public Health from the
University of North Carolina at Chapel Hill and his Master of
Accountancy from the University of Georgia. Mr. Beeghley has
served on the Board of Directors of Bioptix since 2016.
part of this Current Report on Form 8-K.
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Exhibit No.
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Description
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10.1
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Form of Separation Agreement dated April 6, 2017
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About Bioptix, Inc. (NASDAQ:BIOP)
Bioptix, Inc., formerly Venaxis, Inc., provides Enhanced Surface Plasmon Resonance (SPR) platform for the detection of molecular interactions. The Company’s line of Enhanced SPR instruments are designed to increase the flexibility and reliability of SPR. Its SPR biosensors shed light on important binding parameters that are crucial for determining whether a biologic or small molecule drug will be efficacious in humans and at what dose a drug should be administered. Its technology is an ultra-sensitive detection platform. The design of its SPR spectrometers allows discrete areas within the sample cell to be interrogated simultaneously by use of photo-diode arrays aligned to the reflected beam from the sample cell. Its biosensors provide information on kinetic processes (association and dissociation), binding affinities, analyte concentrations and real-time molecule detection. The Company offers 404pi Enhanced SPR System, which enables real-time detection of biomolecular interactions. Bioptix, Inc. (NASDAQ:BIOP) Recent Trading Information
Bioptix, Inc. (NASDAQ:BIOP) closed its last trading session up +0.09 at 4.07 with 15,212 shares trading hands.