8-K
RETRACTABLE TECHNOLOGIES INC (RVP)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington**,D.C. 20549**
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) ofthe Securities Exchange Act of 1934
| Date of Report (Date of earliest event reported) | May 28, 2021 |
|---|
Retractable Technologies, Inc.
(Exact name of registrant as specified in its charter)
| Texas | 001-16465 | 75-2599762 |
|---|---|---|
| (State or other jurisdiction | (Commission | (IRS<br>Employer |
| of incorporation) | File<br>Number) | Identification<br>No.) |
| 511 Lobo Lane, Little Elm, Texas | 75068-5295 | |
| --- | --- | |
| (Address of principal executive offices) | (Zip<br>Code) | |
| Registrant's telephone number, including area code | (972) 294-1010 | |
| --- | --- |
None
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock | RVP | NYSE American |
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).
| Emerging growth company ¨ |
|---|
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
| Item 1.01 | Entry into a Material Definitive Agreement |
|---|
Effective May 28, 2021, the Company entered into an amendment to the delivery order from the U.S. Department of Health and Human Services which was awarded May 1, 2020. The amendment changes the period of performance end date from May 2021 to March 2022 and reallocates the products ordered to increase shipments of 1mL low dead-space safety syringes. Attached as Exhibit 99.1 is a press release dated June 3, 2021 announcing the amendment.
| Item 8.01 | Other Events. |
|---|
On June 1, 2021, the Company issued a press release, a copy of which is attached to this Form 8-K as Exhibit 99.2, announcing its receipt of a notice regarding the extension of a government contract.
| Item 9.01 | Financial Statements and Exhibits. |
|---|
(d) Exhibits
| 99.1 | Press release announcing amendment to delivery order |
|---|---|
| 99.2 | Press release announcing receipt of notice to extend contract |
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.
| DATE: June 3, 2021 | RETRACTABLE TECHNOLOGIES, INC. |
|---|---|
| (Registrant) | |
| BY: | /s/ JOHN W. FORT III |
| --- | --- |
| JOHN W. FORT III | |
| VICE PRESIDENT, CHIEF FINANCIAL OFFICER, AND CHIEF ACCOUNTING OFFICER |
Exhibit 99.1
RETRACTABLE TECHNOLOGIES, INC. AMENDS HHSDELIVERY ORDER
LITTLE ELM, Texas, June 3, 2021—Retractable Technologies Inc. (NYSE American: RVP) announced today that it has entered into an amendment to delivery order 75A50120F33003 from the Department of Health and Human Services which was awarded May 1, 2020. The amendment changes the period of performance end date from May 2021 to March 2022 and reallocates the products ordered to increase shipments of 1mL low dead-space safety syringes. The previously disclosed total contract price and freight costs are unchanged.
For more information on Retractable, visit its website at www.retractable.com.
Forward-looking statements in this press release are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 and reflect Retractable's current views with respect to future events. Retractable believes that the expectations reflected in such forward-looking statements are accurate. However, Retractable cannot assure you that such expectations will materialize. Actual future performance could differ materially from such statements.
Factors that could cause or contribute to such differences include, but are not limited to: the impact of COVID-19 on all facets of logistics and operations, as well as costs, Retractable’s ability to complete capital improvements and ramp up domestic production in response to government agreements, potential tariffs, Retractable's ability to maintain liquidity; Retractable's maintenance of patent protection; Retractable's ability to maintain favorable third party manufacturing and supplier arrangements and relationships; foreign trade risk; Retractable's ability to access the market; production costs; the impact of larger market players in providing devices to the safety market; and other risks and uncertainties that are detailed from time to time in Retractable's periodic reports filed with the U.S. Securities and Exchange Commission.
Retractable Technologies, Inc.
John W. Fort III, 888-806-2626 or 972-294-1010
Vice President and Chief Financial Officer
Exhibit 99.2
RETRACTABLE TECHNOLOGIES, INC. RECEIVESNOTICE OF INTENT TO EXTEND GOVERNMENT CONTRACT
LITTLE ELM, Texas, June 1, 2021—Retractable Technologies, Inc. (NYSE American: RVP) announced today that, in accordance with the 30 day notice requirement, it received a preliminary notice from the U.S. Department of Health and Human Services, Office of the Assistant Secretary for Preparedness and Response (“HHS/ASPR”) expressing its intent to exercise all seven one-month option periods under 75A50121P00021 contract between HHS/ASPR and Retractable. Such option exercises would extend the contract expiration date to February 14, 2022. As previously disclosed, the option periods increase the value of the contract by $92,772,680, including the price of the products and freight reimbursement.
For more information on Retractable, visit its website at www.retractable.com.
Forward-looking statements in this press release are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 and reflect Retractable's current views with respect to future events. Retractable believes that the expectations reflected in such forward-looking statements are accurate. However, Retractable cannot assure you that such expectations will materialize. Actual future performance could differ materially from such statements.
Factors that could cause or contribute to such differences include, but are not limited to: the impact of COVID-19 on all facets of logistics and operations, as well as costs, Retractable’s ability to complete capital improvements and ramp up domestic production in response to government agreements, potential tariffs, Retractable's ability to maintain liquidity; Retractable's maintenance of patent protection; Retractable's ability to maintain favorable third party manufacturing and supplier arrangements and relationships; foreign trade risk; Retractable's ability to access the market; production costs; the impact of larger market players in providing devices to the safety market; and other risks and uncertainties that are detailed from time to time in Retractable's periodic reports filed with the U.S. Securities and Exchange Commission.
Retractable Technologies, Inc.
John W. Fort III, 888-806-2626 or 972-294-1010
Vice President and Chief Financial Officer