UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 7, 2014
| AKERS BIOSCIENCES, INC. |
| (Exact name of registrant as specified in its charter) |
| New Jersey | 333-190456 | 22-2983783 | ||
|
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
|
Thorofare, NJ 08086 |
||
| (Address of Principal Executive Offices) |
(856) 848-2116
Registrant’s telephone number, including
area code
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:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors or
Certain Officers; Election of Directors, Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.
On March 7, 2014, Akers Biosciences, Inc. (the “Company”) was informed that, effective March 28, 2014, Thomas A. Nicolette shall resign from his positions as Chief Executive Officer, President and director of the Company, and all other positions to which he may have been assigned, regardless of whether he served in such capacity. The resignation is not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. The Company has commenced a search for new personnel to meet its staffing goals and anticipates completing such search by April 30, 2014.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. |
Description | |
| 17.1 | Letter of Resignation from Thomas A. Nicolette, dated March 7, 2014 | |
| 99.1 | Press Release |
SIGNATURE
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.
| AKERS BIOSCIENCES, INC. | |||
| Date: March 12, 2014 | By: | /s/ Raymond Akers Jr. | |
| Raymond Akers Jr | |||
| Executive Chairman | |||
March 7, 2014
To the Members of the Board of
Akers Biosciences, Inc.
Dear Gentlemen of the Board:
This letter shall serve as notice that effective March 28, 2014, I hereby resign from my position as Chief Executive Officer, President and director of Akers Biosciences, Inc. (the “Company”), and all other positions to which I have been assigned, regardless of whether I served in such capacity, of the Company. The resignation is not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
Sincerely,
Thomas A. Nicolette
Akers Biosciences Co-Founder and Executive Chairman to Assume Duties of President & CEO
THOROFARE, N.J., March 12, 2014 (GLOBE NEWSWIRE) -- Akers Biosciences, Inc. (LSE:AKR) (Nasdaq:AKER), (the "Company" or "ABI”), a leading designer and manufacturer of rapid diagnostic screening and testing products, today announces that President and CEO Thomas A. Nicolette will be stepping down from the board and leaving the Company, effective March 28, 2014. Mr. Nicolette is the principal of Nicolette Consulting Group Limited, a business management consulting firm specializing in capital raising and financial planning. Through a series of consulting agreements, Mr. Nicolette has held the position of ABI’s President since February 2007 and Chief Executive Officer since April 2008. Most recently, he played an integral role in ABI’s successful listing on the NASDAQ Capital Market raising $15 million to support ABI’s growth. Raymond F. Akers, Jr. PhD, the Company’s Co-founder and Executive Chairman of the Board will assume the duties of President and CEO effective March 28, 2014; Mr. Nicolette will assist in the transition.
Dr. Akers stated, "On behalf of Akers Biosciences, my fellow Board Members and our employees, I want to thank Mr. Nicolette for his tireless efforts on our behalf over the last seven years, especially as it relates to achieving the financial stability that now enables the Company to entirely focus on the execution of its business plan. We wish Tom much success in his future endeavors."
Dr. Akers continued, “With the benefit of our fully-subscribed NASDAQ IPO in January of this year, Akers Biosciences is well-positioned to move to its next phase of operational strategy focused on rapid commercialization of existing and near-term products, as well as new product development. We have a well-defined business plan in place for immediate execution, and we have begun a comprehensive search for proven leaders in medical device discovery and commercial development to achieve our staffing goals.”
ABOUT AKERS BIOSCIENCES, INC.
Akers Biosciences develops, manufactures, and supplies rapid, point of care screening and testing products designed to bring healthcare information both rapidly and directly to the consumer or healthcare provider. The Company has advanced the science of diagnostics while responding to major shifts in healthcare through the development of several proprietary platform technologies. The Company's state-of-the-art rapid diagnostic assays can be performed virtually anywhere in minutes when time is of the essence. The Company has aligned with major healthcare companies and high volume medical products distributors to maximize product offerings, and to be a major worldwide competitor in diagnostics. Additional information on the Company and its products can be found at www.akersbiosciences.com.
Cautionary Statement Regarding Forward Looking Statements
Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. These statements include but are not limited to statements regarding the intended terms of the offering, closing of the offering and use of any proceeds from the offering. When used herein, the words "anticipate," "believe," "estimate," "upcoming," "plan," "target", "intend" and "expect" and similar expressions, as they relate to Akers Biosciences, Inc., its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements.
CONTACT: For more information:
Raymond F. Akers, Jr. PhD
Executive Chairman of the Board
Akers Biosciences, Inc.
Tel. +1 856 848 8698
Jon Cunningham
RedChip Companies, Inc.
Tel. +1 407 644 4256 x107
Antony Legge / James Thomas
Daniel Stewart (Nomad and Broker)
Tel. +44 (0)20 7776 6550
Ben Simons
Vigo Communications
Tel. +44 (0)20 7016 9574