ENTEROMEDICS INC. (NASDAQ:ETRM) 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.
(e) On February8, 2017, the Board of Directors (the Board) of
EnteroMedics Inc. (the Company) confirmed that, to the terms of
the Second Amended and Restated 2003 Stock Incentive Plan (the
Plan), the number of shares of common stock authorized under the
Plan had been reduced from 40,000,000 shares to 3,000,000 shares
as a result of the recent recapitalization of the Company
consisting of the reverse stock split of the Companys common
stock effected on December27, 2016, and the public offering of
the Companys stock which closed on January23, 2017. to the terms
of the Plan, the Board is required to adjust the number of shares
authorized under the Plan as it determines necessary after a
recapitalization or other similar corporate transaction to
prevent dilution or enlargement of the benefits or potential
benefits intended to be made available under the Plan.
A copy of the Plan is attached as Exhibit10.1 to this Current
Report on Form8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and
Exhibits.
(d)Exhibits
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ExhibitNo. |
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Description |
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10.1 |
EnteroMedics,Inc. Second Amended and Restated 2003 Stock |
About ENTEROMEDICS INC. (NASDAQ:ETRM)
EnteroMedics Inc. (EnteroMedics) is a medical device company. The Company is focused on the design and development of devices that use neuroblocking technology to treat obesity, metabolic diseases and other gastrointestinal disorders. The Company’s neuroblocking technology, which is referred to as VBLOC therapy, is designed to intermittently block the vagus nerve. The Company’s initial product is the Maestro Rechargeable System, which uses VBLOC therapy to limit the expansion of the stomach, help control hunger sensations between meals, reduce the frequency and intensity of stomach contractions and produce a feeling of early and prolonged fullness. The Company’s VBLOC therapy is designed to block the gastrointestinal effects of the vagus nerve by replicating a vagotomy using high-frequency, low-energy electrical impulses to intermittently interrupt naturally occurring neural impulses on the vagus nerve between the brain and the digestive system. ENTEROMEDICS INC. (NASDAQ:ETRM) Recent Trading Information
ENTEROMEDICS INC. (NASDAQ:ETRM) closed its last trading session down -0.24 at 7.45 with 1,324,739 shares trading hands.