Nuwellis, Inc. Terminates Material Definitive Agreement
Ticker: NUWE · Form: 8-K · Filed: Aug 22, 2024 · CIK: 1506492
| Field | Detail |
|---|---|
| Company | Nuwellis, Inc. (NUWE) |
| Form Type | 8-K |
| Filed Date | Aug 22, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement-termination, corporate-action
TL;DR
Nuwellis terminated a big deal, could be bad.
AI Summary
Nuwellis, Inc. announced on August 21, 2024, the termination of a material definitive agreement. The company, formerly known as CHF Solutions, Inc. and Sunshine Heart, Inc., is based in Eden Prairie, MN.
Why It Matters
The termination of a material definitive agreement can significantly impact a company's operations, financial standing, and future strategic direction.
Risk Assessment
Risk Level: medium — Termination of a material definitive agreement often signals significant business challenges or strategic shifts that could affect the company's financial health and future prospects.
Key Players & Entities
- Nuwellis, Inc. (company) — Registrant
- August 21, 2024 (date) — Date of earliest event reported
- Eden Prairie, MN (location) — Principal Executive Offices
- CHF Solutions, Inc. (company) — Former Name
- Sunshine Heart, Inc. (company) — Former Name
FAQ
What was the specific material definitive agreement that Nuwellis, Inc. terminated?
The filing does not specify the details of the material definitive agreement that was terminated.
When did the termination of the material definitive agreement become effective?
The filing indicates that August 21, 2024, is the date of the earliest event reported, which is the termination of a material definitive agreement.
What are the potential consequences of this termination for Nuwellis, Inc.?
The filing does not detail the potential consequences, but the termination of a material definitive agreement typically has significant business implications.
Has Nuwellis, Inc. provided any further explanation or context regarding this termination?
This 8-K filing serves as the notification of the termination; further details or context are not provided within this document.
What is Nuwellis, Inc.'s primary business?
Nuwellis, Inc. is involved in the ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS industry, SIC code 3845.
Filing Stats: 677 words · 3 min read · ~2 pages · Grade level 12.2 · Accepted 2024-08-21 17:58:45
Key Financial Figures
- $0.0001 — h registered Common Stock, par value $0.0001 per share NUWE Nasdaq Capital Marke
Filing Documents
- ef20034497_8k.htm (8-K) — 31KB
- ef20034497_ex10-1.htm (EX-10.1) — 12KB
- 0001140361-24-038108.txt ( ) — 179KB
- nuwe-20240821.xsd (EX-101.SCH) — 4KB
- nuwe-20240821_lab.xml (EX-101.LAB) — 21KB
- nuwe-20240821_pre.xml (EX-101.PRE) — 16KB
- ef20034497_8k_htm.xml (XML) — 4KB
02
Item 1.02 Termination of Material Definitive Agreement. On August 21, 2024, Nuwellis, Inc. (the " Company ") and DaVita Inc., a Delaware corporation (" DaVita ") entered into a Termination Agreement (the " Termination Agreement ") and mutually agreed to terminate its Supply and Collaboration Agreement, dated as of June 19, 2023, as amended (the " Supply Agreement ") and the related Common Stock Purchase Warrant (the " Warrant ") and Registration Rights Agreement (the " Registration Rights Agreement "), each dated as of June 19, 2023. The Supply Agreement, Warrant and Registration Rights Agreement are collectively referred to herein as the " DaVita Agreements ". The termination of the Davita Agreements is effective immediately. The respective rights and obligations of each party under the Supply Agreement that survive termination pursuant to the terms and conditions set forth therein shall continue and all rented and unused Products (as defined in the Supply Agreement) shall be returned to the Company. The vesting milestones pursuant to the terms of the Supply Agreement were never attained and therefore the Warrant never vested. Additionally, because the Ultrafiltration Services Approval (as defined in the Supply Agreement) was never attained, the registration rights pursuant to the terms of the Registration Rights Agreement were never in effect. The description of the terms of the DaVita Agreements, as applicable, are included in the Company's Current Reports on Form 8-K filed on June 20, 2023 and June 6, 2024 and are incorporated herein by reference. The foregoing summary of the Termination Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Termination Agreement filed as Exhibit 10.1 hereto and incorporated herein by reference.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit Number Exhibit Description 10.1 Termination Agreement to the Supply and Collaboration Agreement, dated August 21, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
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: August 21, 2024 NUWELLIS, INC. By: /s/ Nestor Jaramillo, Jr Name: Nestor Jaramillo, Jr. Title: President and Chief Executive Officer