MISONIX, INC. (NASDAQ:MSON) Files An 8-K Entry into a Material Definitive AgreementItem 1.01. Entry into a Material Definitive Agreement.
On October 19, 2017, Misonix, Inc. (“Misonix”) entered into a License and Exclusive Manufacturing Agreement (the “Agreement”) with Hunan Xing Hang Rui Kang Bio-technologies Co., Ltd., a Chinese corporation (the “Licensee”) under which Misonix has licensed certain manufacturing and distribution rights to its SonaStar product line in China, Hong Kong and Macau (the “Territory”) in exchange for payments totaling at least $11,000,000.
to the Agreement, Licensee will pay Misonix: (i) initial amounts consisting of upfront fees and stocking orders totaling $5,000,000, payable in five (5) equal monthly installments of $1,000,000 each; (ii) royalty payments from the sale of SonaStar products in the Territory, including minimum royalty payments of $2,000,000 per calendar year in each of 2019, 2020, and 2021; and (iii) reimbursement of technology transfer costs in an amount up to $1,000,000. The Agreement also provides that Misonix will supply SonaStar products to Licensee at agreed prices during the transition period prior to Licensee’s commencement of manufacturing.
On October 20, 2017, Misonix issued a press release with respect to the foregoing, a copy of which is attached hereto as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits
(d)Exhibits – The following exhibit was filed as part of this report:
MISONIX INC ExhibitEX-99.1 2 s107800_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Misonix Enters into $11 Million License,…To view the full exhibit click here
About MISONIX, INC. (NASDAQ:MSON)
MISONIX, INC. (Misonix) is a surgical device company. The Company designs, manufactures and markets therapeutic ultrasonic products across the world for spine surgery, skull-based surgery, neurosurgery, wound and burn debridement, cosmetic surgery, laparoscopic surgery and other surgical applications. The Company’s products include BoneScalpel, BoneScalpel MIS System, SonicOne O.R. System and SonaStar. BoneScalpel is an ultrasonic cutting system with applications in orthopedic and reconstructive surgery, as well as neurosurgery. BoneScalpel MIS System offers deep cuts through osseous structures with minimal blood loss. Misonix SonicOne O.R. System is an ultrasonic surgical debridement system that allows surgeons to address the challenges chronic wounds present to them, the patient, and the health-care system. SonaStar is used for neurosurgical procedures, such as skull/non-skull base tumor resections, transnasal procedures and acoustic mengiomas.
