Dextera Surgical, Inc. (NASDAQ:DXTR) Files An 8-K Other Events

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Dextera Surgical, Inc. (NASDAQ:DXTR) Files An 8-K Other Events
Item 8.01 of the Original Report to correct the number of shares of Common Stock outstanding as of the close of business on May 17, 2017, and to delete the disclosure as to the numbers of shares of Series A convertible preferred stock and Series B convertible preferred stock outstanding as of the close of business on May 17, 2017. No other changes have been made to the Original Report.

Item 8.01. Other Events.

On May 16, 2017, the Company announced the closing of the Offering for gross proceeds of $8 million, prior to deducting underwriting discounts and commissions and offering expenses payable by the Company.

On or prior to May 17, 2017, certain holders of the Company’s Series A convertible preferred stock and Series B convertible preferred stock elected to convert shares of the Series A convertible preferred stock and Series B convertible preferred stock into shares of the Company’s Common Stock. As of the close of business on May 17, 2017, the Company had outstanding 13,970,041 shares of Common Stock. The Company has received notices to convert additional shares of the Series A convertible preferred stock and Series B convertible preferred stock, which are pending with the Company’s transfer agent.

As a result of the Offering, the Company believes it now has stockholders’ equity in excess of the minimum $2.5 million requirement for continued listing on The Nasdaq Capital Market. The Company is awaiting confirmation from Nasdaq that it has evidenced compliance with the stockholders’ equity requirement for continued listing on The Nasdaq Capital Market.

 

 

 


About Dextera Surgical, Inc. (NASDAQ:DXTR)

Dextera Surgical Inc., formerly Cardica, Inc., designs and manufactures stapling devices that enable the advancement of minimally invasive surgical procedures. The Company is engaged in commercializing and developing its MicroCutter 5/80 stapler based on its staple-on-a-strip technology for use by thoracic, pediatric, bariatric, colorectal and general surgeons. Its MicroCutter 5/80 is a commercially available cartridge-based microcutter device with approximately five millimeter shaft diameter, over 80 degrees of articulation, and an approximately 30 millimeter staple line cleared for specified indications for use in the United States, and in the European Union (EU) for a range of indications for use. It designs, manufactures and markets automated anastomotic systems used by surgeons to perform anastomoses during on- or off-pump coronary artery bypass graft procedures and these products include the C-Port xA system, the C-Port Flex A system and the PAS-Port Proximal Anastomosis System.

Dextera Surgical, Inc. (NASDAQ:DXTR) Recent Trading Information

Dextera Surgical, Inc. (NASDAQ:DXTR) closed its last trading session up +0.004 at 0.220 with 873,986 shares trading hands.

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