Axogen, Inc 8-K, filed Dec 14, 2020
Axogen, Inc. (AXGN)
About this 8-K
Axogen, Inc filed this 8-K on December 14, 2020.
Items reported
- Item 8.01: Other events
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form
Current Report
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Title of each class | Trading Symbol(s) | Name of exchange on which registered |
Common Stock, $0.01 par value | AXGN | The Nasdaq Stock Market |
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Item 8.01 Other Events.
Oberland Capital exercises its option to purchase $3.5 million of Company stock
On June 30, 2020 Axogen, Inc. (the “Company”), as borrower, and certain of the Company’s wholly owned subsidiaries, entered into a Term Loan Agreement with the lenders party thereto, including TPC Investments II LP (“TPC”), and Argo SA LLC (“Argo”). TPC and Argo are each affiliates of Oberland Capital. In connection with the Term Loan Agreement the Company and TPC entered into an Option Agreement, pursuant to which the Company granted to TPC the right to purchase a number of newly issued shares of the Company’s common stock equal to an aggregate of $3.5 million divided by the Fair Market Value (as defined in the Option Agreement based upon the 45 day trailing average market value of the Company’s common stock) of a share of common stock on the date of exercise of such option (the “Exercise Price”). On December 10, 2020, Oberland Capital exercised in full its option under the Option Agreement. The Exercise Price was determined to be $14.13, resulting in gross proceeds to the Company of approximately $3.5 million and the issuance of 247,699 shares to TPC.
SIGNATURES
Pursuant to the requirements of the Exchange Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| AXOGEN, INC. | |
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Date: December 14, 2020 | By: | /s/ Brad Ottinger |
| | Brad Ottinger |
| | General Counsel and Chief Compliance Officer |