DELCATH SYSTEMS, INC. (NASDAQ:DCTH) Files An 8-K Entry into a Material Definitive AgreementItem 1.01. Entry Into a Material Definitive Agreement
On January 26, 2017, Delcath Systems, Inc. (the “Company”) and holders of greater than 55% of the aggregate principal amount (the “Required Holders”) of the Company’s Senior Secured Convertible Notes due December 29, 2017 (the “Notes”) agreed to temporarily reduce the conversion price for conversions at the option of the holders of Notes (the “Conversion Price”) to $0.32 per share of the Company’s common stock, for a period commencing on January 26, 2017 and ending on February 1, 2017 (the “Reduced Conversion Period”).
The Required Holders also agreed to certain volume limitations on sales of the Company’s common stock thereby during the Reduced Conversion Period.
Item 8.01. Other Events.
The reduction of the Conversion Price may result in the issuance of a substantial number of shares of the Company’s common stock. As of the close of business on January 25, 2017, there were 18,125,392 shares of the Company’s common stock outstanding.
About DELCATH SYSTEMS, INC. (NASDAQ:DCTH)
Delcath Systems, Inc. is a late-stage clinical development company with early commercial activity in Europe focused on cancers of the liver. The Company is a specialty pharmaceutical and medical device company developing its product, Melphalan Hydrochloride for Injection for use with the Delcath Hepatic Delivery System (Melphalan/HDS). The Company’s system delivers and filters melphalan hydrochloride, which is marketed as a device under the trade name Delcath Hepatic CHEMOSAT Delivery System for Melphalan (CHEMOSAT). The Company’s focus is on the execution of the clinical development program (CDP) in ocular melanoma liver metastases (mOM), intrahepatic cholangiocarncinoma (ICC), hepatocellular carcinoma (HCC or primary liver) and other cancers that are metastatic to the liver. DELCATH SYSTEMS, INC. (NASDAQ:DCTH) Recent Trading Information
DELCATH SYSTEMS, INC. (NASDAQ:DCTH) closed its last trading session 00.000 at 0.410 with 7,354,393 shares trading hands.