GREAT BASIN SCIENTIFIC, INC. (NASDAQ:GBSN) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
On January 2, 2017, Great Basin Scientific, Inc. (the Company)
entered into separate agreements (each, an Amendment Agreement)
with holders of more than 51% in aggregate principal amount of
the senior secured convertible notes (the 2016 Notes) issued by
the Company to that certain Securities Purchase Agreement, dated
June 29, 2016, by and among the Company and the investors party
thereto. to the terms of the Amendment Agreements, all of the
2016 Notes were amended such that no holder of 2016 Notes nor any
of its affiliates will sell, directly or indirectly, on any
trading day more than its pro rata percentage of 40% of the
trading volume of our common stock, unless our common stock is
then trading above $2.50 (as adjusted for stock splits, stock
dividends, recapitalizations and similar events).
The foregoing is a summary description of the material terms of
the Amendment Agreements and is qualified in its entirety by the
text of the form of Amendment Agreement, attached as Exhibit 10.1
to this Current Report on Form 8-K and incorporated by reference
to this Item 1.01.
Item 9.01 Financial Statements and Exhibits
|
EXHIBIT |
DESCRIPTION |
|
10.1 |
Form of Amendment Agreement |
About GREAT BASIN SCIENTIFIC, INC. (NASDAQ:GBSN)
Great Basin Scientific, Inc. is a molecular diagnostic testing company. The Company is focused on the development and commercialization of its molecular diagnostic platform designed to test for infectious diseases, especially hospital-acquired infections. Its commercially available tests are clostridium difficile (C. diff) and Group B Strep. Its system includes an analyzer and a diagnostic cartridge. Each analyzer contains a module into, which individual test cartridges are placed. Its other diagnostic assays in the late stages of product development include a pre-surgical nasal screen for Staphylococcus aureus (SA), food borne pathogen panel, panel for candida blood infections, test for pertussis and a test for Chlamydia tracomatis (CT)/Neisseria gonorrhea (NG). The Company also has a pipeline of assays in an early stage of development, including respiratory testing and sepsis (blood infection) panels. It markets a platform of molecular testing in small to medium sized hospitals. GREAT BASIN SCIENTIFIC, INC. (NASDAQ:GBSN) Recent Trading Information
GREAT BASIN SCIENTIFIC, INC. (NASDAQ:GBSN) closed its last trading session 00.0000 at 0.0602 with 6,203 shares trading hands.