POLARITYTE, INC. (NASDAQ:COOL) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
to the Certificate of Incorporation of PolarityTE, Inc. (the “Company”), the members of the Company’s Board of Directors are annually elected to staggered terms, generally of three years duration, and are divided into three classes with each class expiring on an annual basis. Directors appointed to fill vacancies are generally appointed to the class recently vacated. As disclosed in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on September 13, 2017, Denver Lough, Edward Swanson and John Stetson have been nominated to serve as Class III Directors with a term expiring in 2020.
In order to ensure that the Board of Directors consists of three classes divided as evenly as possible, effective September 10, 2017, Jeff Dyer and Jon Mogford, previously Class III Directors, were appointed as Class I Directors by the Board of Directors in accordance with the Certificate of Incorporation and the Bylaws of the Company with a term expiring in 2018. Mr. Dyer’s and Dr. Mogford’s appointment as Class I Directors was effected solely to establish the Class III nominations for 2017 to be included in the 2017 proxy statement and to maintain three classes divided as evenly as possible following the election of the new Class III Directors. For all other purposes, Mr. Dyer’s and Dr. Mogford’s service on the Board of Directors is deemed to have continued uninterrupted since the time they first joined the Board of Directors.
About POLARITYTE, INC. (NASDAQ:COOL)
PolarityTE, Inc., formerly Majesco Entertainment Company, is a technology company. The Company has developed, marketed, published and distributed software through online platforms. The Company develops applications for gaming on computers, handheld devices and game consoles. The Company is the owner of patent applications and know-how related to regenerative medicine and tissue engineering, as well as software applications used in diagnosis and treatment related to regenerative medicine. It seeks to develop and obtain regulatory approval for technology that will utilize a patient’s own tissue substrates for the regeneration of skin, bone, muscle, cartilage, fat, blood vessels and nerves. Its PolarityTE platform simplifies regeneration and allows cells to function naturally. The platform can be applied across all cells, tissues and composite structures. Its platform induces cell and tissue polarity, and creates functional tissue that mirrors natural development in the human body.
