AngioDynamics Enters Material Definitive Agreement

TL;DR

ANGI signed a big deal, details TBD.

AI Summary

On March 31, 2024, AngioDynamics, Inc. entered into a Material Definitive Agreement. The filing does not provide specific details about the agreement, its terms, or any associated financial figures.

Why It Matters

This filing indicates a significant new contract or partnership for AngioDynamics, which could impact its future business operations and financial performance.

Risk Assessment

Risk Level: medium — The lack of specific details in the filing creates uncertainty about the nature and impact of the agreement.

Key Players & Entities

• AngioDynamics, Inc. (company) — Registrant
• March 31, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share ANGO NASDAQ Global Select
• $7 m — lump sum payment to BD in the amount of $7 million, $3 million of which will be paya
• $3 million — ment to BD in the amount of $7 million, $3 million of which will be payable within 5 busin
• $2.5 million — ke six minimum annual payments to BD of $2.5 million through February, 2029, and potential a

Filing Documents

• ef20025660_8k.htm (8-K) — 25KB
• 0001140361-24-016977.txt ( ) — 156KB
• ango-20240331.xsd (EX-101.SCH) — 4KB
• ango-20240331_lab.xml (EX-101.LAB) — 21KB
• ango-20240331_pre.xml (EX-101.PRE) — 16KB
• ef20025660_8k_htm.xml (XML) — 4KB

01 – Entry into a Material Definitive Agreement

Item 1.01 – Entry into a Material Definitive Agreement. As previously disclosed, AngioDynamics, Inc. ("AngioDynamics" or the "Company") and Becton, Dickinson and Company, C.R. Bard, Inc. and Bard Peripheral Vascular Inc. (collectively, "BD") are involved in certain litigation in the United States District Court for the District of Delaware and the United States Court of Appeals for the Federal Circuit (collectively, the "Actions"). On March 31, 2024, AngioDynamics and BD entered into a Settlement Agreement (the "Settlement Agreement") to resolve the Actions. Under the terms of the Settlement Agreement, BD will grant a license to AngioDynamics under certain of BD's port patents and AngioDynamics will grant BD a license under certain of AngioDynamics' catheter patents. AngioDynamics will make a one-time lump sum payment to BD in the amount of $7 million, $3 million of which will be payable within 5 business days, and the remainder of which will be payable in installments over the next 12 months. AngioDynamics will also make six minimum annual payments to BD of $2.5 million through February, 2029, and potential additional payments if six percent (6%) of annual net sales of AngioDynamics' port products exceed the minimum payment. The parties will participate in the pending appeal before the Federal Circuit of the case titled C.R. Bard, Inc. and Bard Peripheral Vascular, Inc. v. AngioDynamics, Inc. (C.A. 15-00218–JFB; and CAFC appeal No. 23-2056) and a contingent payment of $3 million will be due from AngioDynamics to BD if the Federal Circuit reverses or vacates the District Court's findings of invalidity with respect to the patent claims at issue in the case. The agreement contains mutual covenants not to sue and releases. The Settlement Agreement was entered into solely for the purpose of settlement and compromise of the Actions, and without any admission of misconduct, responsibility, or liability, which were all expressly denied by the Company and BD. SIGNATURE

View Full Filing

View this 8-K filing on SEC EDGAR