CRYOPORT, INC. (NASDAQ:CYRX) Files An 8-K Regulation FD Disclosure
Item 7.01
On May 20, 2020, Cryoport, Inc. (the “Company”) received notification from a stockholder asserting that one of the Company’s directors had engaged in insider trading on May 13, 2020 by exercising options to purchase 8,334 shares of the Company’s common stock at an exercise price of $4.80 per share and selling those shares of common stock at an average sale price of $23.4234 per share while in possession of material nonpublic information regarding the existence of the Company’s offering of its 3.00% convertible senior notes due 2025 (the “Notes”). This stockholder also indicated that he has notified the Securities and Exchange Commission of his allegations. The Company believes that these claims are without merit as the director formally requested and received approval to exercise these options and sell these shares of common stock on May 12, 2020 and sold these shares of common stock on May 13, 2020 in accordance with the Company’s policies for trading in the Company’s securities. Further, the sale of the shares occurred in advance of both when the Company’s management determined to explore pursuing the Notes Offering (as defined below) and when the members of the Company’s board of directors, including the director in question, were first notified of the Notes Offering.
On May 19, 2020, the Company issued a press release announcing its intention to offer, subject to market conditions and other factors, $100.0 million aggregate principal amount of the Notes in a private placement (the “Notes Offering”) to qualified institutional buyers to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). A copy of this press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
On May 21, 2020, the Company issued a press release announcing the pricing of $100.0 million aggregate principal amount of the Notes in the Notes Offering. A copy of this press release is filed as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference.
(d) Exhibits.
| 99.1 | Press Release, dated May 19, 2020 |
| 99.2 | Press Release, dated May 21, 2020 |
Cryoport, Inc. Exhibit
EX-99.1 2 tm2020589d1_ex99-1.htm EXHIBIT 99.1 EXHIBIT 99.1 Cryoport,…
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About CRYOPORT, INC. (NASDAQ:CYRX)
Cryoport, Inc. (Cryoport) is a provider of cryogenic logistics solutions to the life sciences industry through its purpose-built packaging, information technology and specialized cold chain logistics expertise. The Company provides logistics solutions for biologic materials, such as immunotherapies, stem cells, chimeric antigen receptors (CAR)-T cells, and reproductive cells for clients. The Company’s Cryoport Express Solution includes a cloud-based logistics operating platform, which is branded as the Cryoportal. The Company’s Cryoport Express Solutions are made up of the Cryoportal software platform, Cryoport Express Shippers, Cryoport Express Smart Pak data loggers and its life sciences cold chain logistics expertise. The Cryoportal is used by the Company, its clients and its business partners to automate the entry of orders, prepare customs documentation, and to facilitate status and location monitoring of shipped orders while in transit.