MGC Diagnostics Corporation (NASDAQ:MGCD) Files An 8-K Other Events
Item 8.01Other Events
On January 25, 2017, the Companys Board of Directors approved a
special, one-time cash dividend of $0.70 per share on its
outstanding common stock, payable on February 24, 2017 to
shareholders of record as of February 10, 2017.
The Board has also initiated a strategic review of the Companys
businesses and assets to explore opportunities for enhancing
value for our loyal shareholders. A Special Committee consisting
of Board Chairman Mark Sheffert, Vice Chairman Terry Bunge and
director Hank Struik will oversee this process. The Special
Committee has retained Minneapolis-based investment banking firm
Craig-Hallum Capital Group LLC, to advise it in this process. We
expect this to be a thorough process and we will report its
findings and conclusions at the completion of the review. We will
consider all reasonable options but cannot guarantee that any
actions will be taken as a direct result of this review.
A copy of the Companys press release announcing the dividend and
the Special Committee retention of an advisor is attached as
Exhibit 99.1 to this Current Report on Form 8-K and is
incorporated herein by reference.
Section 9 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
The following is furnished as an Exhibit to this Report:
| Exhibit No. | Description of Exhibit | |
| 99.1 |
Press release dated January 25, 2017, announcing special cash dividend and the Special Committee retention of an advisor. |
About MGC Diagnostics Corporation (NASDAQ:MGCD)
MGC Diagnostics Corporation is a medical technology company. The Company designs, markets and sells non-invasive cardiorespiratory diagnostic products. The Company operates in the manufacture and sale of cardiorespiratory diagnostic products segment. The Company’s product portfolio provides solutions for disease detection, integrated care, and wellness across the cardiorespiratory healthcare range. The Company sells its products internationally through distributors and in the United States through a direct sales force targeting specialists located in hospitals and university-based medical centers, among others. The Company’s cardiorespiratory diagnostic products measure flow and respiratory pressures and also analyzes the inhaled and exhaled gases, such as oxygen and carbon dioxide. The Company offers its products in various categories, such as Pulmonary Function Products (PFT), Gas Exchange Testing Products, Cycle Ergometers and Treadmills, and Electronic Medical Records Interfaces. MGC Diagnostics Corporation (NASDAQ:MGCD) Recent Trading Information
MGC Diagnostics Corporation (NASDAQ:MGCD) closed its last trading session up +0.69 at 7.89 with 1,675 shares trading hands.
