IRIDEX CORPORATION (NASDAQ:IRIX) Files An 8-K Entry into a Material Definitive Agreement
|Entry into a Material Definitive Agreement.|
On April20, 2017, IRIDEX Corporation, a Delaware corporation (the
Company), entered into an agreement (the Amendment Agreement) to
amend that certain Securities Purchase Agreement (the Purchase
Agreement), dated August31, 2007, by and among the Company and
BlueLine Capital Partners, LP (BlueLine I), BlueLine Capital
Partners II, LP (BlueLine II), and BlueLine Capital Partners III,
LP (BlueLine III and, collectively with BlueLine I and BlueLine
to the Amendment Agreement, BlueLine waived its right under the
Purchase Agreement to designate a nominee for nomination to the
Companys board of directors (the Board) and any committees
thereof at any time prior to March31, 2018. BlueLines right to
designate a nominee for nomination to the Companys Board and any
committees thereof will terminate in the event that BlueLine and
its affiliates no longer hold at least five percent (5%)of the
number of shares of common stock of the Company issued and
outstanding as of March31,2018.
The foregoing description of the Amendment Agreement is qualified
in its entirety by reference to the full text of the Amendment
Agreement, a copy of which is filed as Exhibit 10.1 hereto and
incorporated herein by reference.
Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
Resignation of Director
On April 21, 2017, Scott A Shuda resigned from the Companys
Board, the Compensation Committee of the Board and the Nominating
and Governance Committee of the Board, in each case effective as
of April 21, 2017.
|Item9.01.||Financial Statements and Exhibits.|
Amendment to the Securities Purchase Agreement, dated as of
April 20, 2017, between the Company and BlueLine Capital
Partners, LP, BlueLine Capital Partners II, LP, and BlueLine
Capital Partners III, LP.
About IRIDEX CORPORATION (NASDAQ:IRIX)
IRIDEX Corporation is a provider of therapeutic based laser consoles, delivery devices and consumable instrumentation used to treat sight-threatening eye diseases in ophthalmology. The Company operates through ophthalmology segment. Its ophthalmology products consist of laser consoles, delivery devices and consumable instrumentation, including laser probes, and are used in the treatment of serious eye diseases, including the over three causes of irreversible blindness, such as diabetic retinopathy, glaucoma and age-related macular degeneration (AMD). In addition, the Company’s ophthalmology products are often used in vitrectomy procedures (used to treat proliferative diabetic retinopathy, macular holes, retinal tears and detachments), which are generally performed in the operating room and require a consumable single use intraocular laser probe (EndoProbe) to deliver light to the back of the eye together with other instrumentation. IRIDEX CORPORATION (NASDAQ:IRIX) Recent Trading Information
IRIDEX CORPORATION (NASDAQ:IRIX) closed its last trading session down -0.35 at 11.17 with 52,142 shares trading hands.