ENCISION, INC. (OTCMKTS:ECIA) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry Into A Material Definitive Agreement.
On December 17, 2018, the Company entered into a Securities Purchase Agreement (“SPA”) with one accredited investor for the private placement of 875,000 shares of the Company’s common stock at a price of $0.40 per share. At the closing of this private placement, the Company received gross proceeds of $350,000.
There are no registration rights applicable to the shares issued in the private placement.
The foregoing is only a brief description of the material terms of the SPA, which is filed as an exhibit to this Current Report on Form 8-K. The foregoing does not purport to be a complete description of the rights and obligations of the parties thereunder and such descriptions are qualified in their entirety by reference to such exhibits.
Item 3.02 Unregistered Sales of Equity Securities.
All of the securities described above in Item 1.01 of this Current Report on Form 8-K were offered and sold in reliance upon exemptions from registration to Section 4(a)(2) under the Securities Act of 1933, as amended (“Securities Act”), and Rule 506 of Regulation D promulgated thereunder. The offering was made to “accredited investors” (as defined by Rule 501 under the Securities Act).
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
ENCISION INC Exhibit
EX-10.1 2 ex10x1.htm EXHIBIT 10.1 Exhibit 10.1 ENCISION INC. SECURITIES PURCHASE AGREEMENT THIS SECURITIES PURCHASE AGREEMENT (the “Agreement”) is entered into as of the 19th day of December,…
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About ENCISION, INC. (OTCMKTS:ECIA)
Encision Inc. is a medical device company. The Company designs, develops, manufactures and markets surgical instruments that provide safety to patients undergoing minimally-invasive surgery. Its Active Electrode Monitoring (AEM) technology provides surgeons with the desired tissue effects of cutting and coagulating tissue in laparoscopic procedures, while preventing stray electrosurgical energy that can cause complications and even death. Its shielded and monitored instruments enable surgeons to perform electrosurgical procedures. It produces and markets a line of AEM Instruments, which are shielded and monitored to prevent stray electrosurgical burns from insulation failure and capacitive coupling. Its product line includes a range of endo-mechanical instruments (scissors, graspers and dissectors), fixed-tip electrodes and suction-irrigation electrodes. Its EndoShield integrates its AEM technology into a disposable smart cord and eliminates the need for a separate AEM monitor.