Nano-X Imaging Ltd. Files 6-K, Includes Non-GAAP Measures
Ticker: NNOX · Form: 6-K · Filed: Apr 1, 2024 · CIK: 1795251
Sentiment: neutral
Topics: filing, press-release, non-gaap
Related Tickers: NNOX
TL;DR
NANOX 6-K filed: using non-GAAP numbers, check the press release for details.
AI Summary
On April 1, 2024, Nano-X Imaging Ltd. (the "Company") issued a press release, attached as Exhibit 99.1 to this 6-K filing. The press release includes financial measures that are not prepared in accordance with U.S. GAAP. The company is incorporated in Israel and its principal executive offices are located in Petach Tikva.
Why It Matters
This filing indicates the company is using alternative financial metrics, which may require investors to look beyond standard GAAP reporting for a complete financial picture.
Risk Assessment
Risk Level: low — This is a routine filing to report a press release and does not contain significant new operational or financial information that would inherently increase risk.
Key Players & Entities
- Nano-X Imaging Ltd. (company) — Filer of the 6-K
- April 1, 2024 (date) — Date of press release issuance
- Exhibit 99.1 (document) — Attached press release
- U.S. GAAP (standard) — Accounting principles not used for certain measures
FAQ
What is the purpose of this 6-K filing?
The purpose of this 6-K filing is to report a press release issued by Nano-X Imaging Ltd. on April 1, 2024, which is attached as Exhibit 99.1.
Does the press release use standard accounting principles?
No, the press release uses certain financial measures that are not prepared in accordance with generally accepted accounting principles in the United States (GAAP).
Where is Nano-X Imaging Ltd. located?
Nano-X Imaging Ltd.'s principal executive office is located at Ofer Tech Park, 94 Shlomo Shmeltzer Road, Petach Tikva, Israel.
What is the company's SEC file number?
The company's SEC file number is 001-39461.
Does the company file annual reports under Form 20-F or 40-F?
The registrant indicates it files annual reports under cover of Form 20-F.
Filing Stats: 1,080 words · 4 min read · ~4 pages · Grade level 12.1 · Accepted 2024-04-01 08:06:09
Key Financial Figures
- $8 million — n and the consolidated White Action for $8 million. On October 31, 2023, Magistrate Judge
- $5 million — ng December ,2023 the Company deposited $5 million and D&O insurance carrier deposited $3
- $3 million — ion and D&O insurance carrier deposited $3 million in a trust account in connection with t
- $650,000 — y paid a civil penalty in the amount of $650,000 and was permanently enjoined from viola
- $240,000 — der. Mr. Poliakine paid disgorgement of $240,000, together with prejudgment interest of
- $26,836 — , together with prejudgment interest of $26,836.39, paid a civil penalty of $150,000, a
- $150,000 — of $26,836.39, paid a civil penalty of $150,000, and was permanently enjoined from viol
- $1.26 million — any is for the payment of approximately $1.26 million for unpaid consulting fees from the Gib
- $25 million — the Gibraltar Entity and approximately $25 million connection with his claimed entitlement
Filing Documents
- ea193232-6k_nanox.htm (6-K) — 18KB
- ea193232ex99-1_nanox.htm (EX-99.1) — 277KB
- ex99-1_001.jpg (GRAPHIC) — 2KB
- 0001213900-24-028234.txt ( ) — 300KB
Legal Proceedings
Legal Proceedings In September 2020, two securities class action complaints were filed in the United States District Court for the Eastern District of New York against the Company and certain then-current officers and a director, which were subsequently consolidated and captioned as White v. Nano-X Imaging Ltd. et al. , Case No. 1:20-cv-04355 (the “White Action”), alleging violations of securities laws on behalf of all persons and entities that purchased or otherwise acquired the Company’s publicly traded securities between August 21, 2020 and September 15, 2020, and seeking unspecified damages. In addition, on October 5, 2021, a class action complaint was filed in the United States District Court for the Eastern District of New York against the Company and certain of its officers, captioned McLaughlin v. Nano-X Imaging Ltd. et al. , Case No. 1:21-cv-05517 (the “McLaughlin Action”). The amended complaint in that action, filed on April 12, 2022, alleges that defendants violated the federal securities laws in connection with certain disclosures concerning the cost of the Nanox.ARC system as well as the comparison of the Nanox.ARC to CT scanners, among other allegations. The Lead Plaintiff in the McLaughlin Action seeks to represent a class of investors who purchased the Company’s publicly-traded securities between August 21, 2020 and November 17, 2021. The Company entered into a term sheet on April 28, 2023, to settle all shareholder class action litigation related to the McLaughlin Action and the consolidated White Action. On June 2, 2023, the Company entered into a formal settlement agreement to settle the McLaughlin Action and the consolidated White Action for $8 million. On October 31, 2023, Magistrate Judge Kuo preliminarily approved the settlement and on February 15, 2024, held a final approval hearing, during which she requested that the parties submit updated settlement claims information by letter on or before February 29
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, thereunto duly authorized. NANO-X IMAGING LTD By: /s/ Ran Daniel Name: Ran Daniel Title: Chief Financial Officer Date: April 1, 2024 3