Hyperfine, Inc 8-K, filed Dec 12, 2022
Hyperfine, Inc. (HYPR)
About this 8-K
Hyperfine, Inc filed this 8-K on December 12, 2022, reporting on events of December 6, 2022.
Items reported
- Item 2.05: Exit or restructuring costs
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
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Item 2.05 Costs Associated with Exit or Disposal Activities.
On December 6, 2022, Hyperfine, Inc. (the “Company”) committed to an organizational restructuring designed to decrease its costs and create a more streamlined organization to support its business. As a result, the Company has terminated approximately 13% of its global workforce including, among others, the employees of its subsidiary, Liminal Sciences, Inc. In connection with the restructuring, the Company currently estimates it will incur up to $1.7 million of costs, consisting primarily of cash severance costs, other severance benefits, fixed asset impairment costs and other related restructuring costs. The Company expects to substantially complete the restructuring in the fourth quarter of 2022 and the first quarter of 2023. The estimates of costs and expenses that the Company expects to incur in connection with the restructuring are subject to a number of assumptions and actual results may differ materially. The Company may also incur additional costs not currently contemplated due to events that may occur as a result of, or that are associated with, the restructuring.
Safe Harbor Statement
Certain statements contained herein, regarding matters that are not historical facts, may be forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). Such forward-looking statements include statements regarding management’s intentions, plans, beliefs, expectations or forecasts for the future, including with respect to the organizational restructuring. The reader is cautioned not to rely on these forward-looking statements. These forward-looking statements are based on current expectations of future events. If the underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of the Company. These risks and uncertainties can be found in the Company’s most recently filed Annual Report on Form 10-K for the fiscal year ended December 31, 2021, as supplemented by any subsequently filed Quarterly Reports on Form 10-Q. Copies of these filings are available online at www.sec.gov, www.hyperfine.io or on request from the Company. Forward-looking statements included herein speak only as of the date hereof and the Company undertakes no obligation to revise or update such statements to reflect the occurrence of events or circumstances after the date hereof.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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HYPERFINE, INC. |
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Date: |
December 12, 2022 |
By: |
/s/ Maria Sainz |
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Maria Sainz |