MEDOVEX CORP. (NASDAQ:MDVX) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry Into A Material Definitive Agreement
On July 14, 2017, MedoveX Corporation (the “Company”) entered into a Securities Purchase Agreement (the “Securities Purchase Agreement”) with selected accredited investors (each an “Investor” and collectively, the “Investors”). to the terms of the Securities Purchase Agreement, the Company sold an aggregate of 2,956,043 shares of Common Stock and 1,478,022 Warrants to purchase Common Stock (the “Offering”). The Offering resulted in $2,690,000 in net proceeds to the Company. The Warrants have a five year term commencing six (6) months from issuance and an exercise price of $1.15. The shares was sold at $0.91 per share which was the closing price of the Company's common stock on July 13, 2017. The Warrants are exercisable on a cashless basis in the event that the underlying shares are not subject to an effective registration statement. The Shares of Common Stock sold in the Offering were registered in the Company’s effective registration statement on Form S-3 (Reg No. 333-217411). The foregoing description of the terms of the Securities Purchase Agreement and Warrant is not complete and is qualified in it's entirety by the full text of the Securities Purchase Agreement and Warrant, which are filed as Exhibit 10.1 and 10.2 to the Current Report on Form 8-K and are incorporated by reference herein.
As a result of the Offering, the Company had a Stockholders’ equity of more than $2,500,000 as of the date of this filing.
Each of the Investors is an “accredited investor” as such term is defined in Rule 501 of Regulation D promulgated under the Securities Act of 1933, as amended (the “Act”), and the warrants were sold to them in reliance on the exemption from registration provided by Rule 506 and Section 4(2) of the Act.
Item 3.02 Unregistered Sales of Equity Securities.
See Item 1.01 above, with respect to the sale of the Warrants.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
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Exhibit Number |
Description |
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10.1 |
Form of Warrant issued by MedoveX Corporation to each of the Investors |
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10.2 |
Form of Securities Purchase Agreement, by and between the Company and Investors |
Medovex Corp. ExhibitEX-10.1 2 ex10-1.htm MATERIAL CONTRACTS Blueprint Exhibit 10.1 NEITHER THIS SECURITY NOR THE SECURITIES FOR WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933,…To view the full exhibit click here