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): June 12, 2017
INVUITY, INC.
(Exact name of registrant as specified in its charter)
Delaware |
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001-37417 |
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04-3803169 |
(State or other jurisdiction of incorporation) |
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(Commission File No.) |
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(IRS Employer Identification Number) |
444 De Haro Street
San Francisco, CA 94107
(Address of principal executive offices)
(650) 655-2100
(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:
[_] 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))
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).
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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 5.07 Submission of Matters to a Vote of Security Holders.
On June 12, 2017, Invuity, Inc. (the “Company”) held its annual meeting of stockholders at its headquarters located at 444 De Haro Street, San Francisco, California (the “Meeting”). Present at the Meeting in person or by proxy were holders of 14,370,547 shares of common stock, representing 84.67% of the voting power of the shares of common stock as of April 17, 2017, the record date for the Meeting, and constituting a quorum for the transaction of business.
The stockholders of the Company voted on the following items at the Meeting:
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1. |
To elect one Class II director for a three-year term to expire at the 2020 annual meeting of stockholders. |
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2. |
To ratify the appointment of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2017. |
The voting results for each of these proposals are detailed below.
1. Election of Director
Nominee |
For |
Withhold |
Broker Non-votes |
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Eric Roberts |
9,926,005 |
416,247 |
4,028,295 |
The aforesaid nominee has been elected as a director for the term set forth above.
2. Ratification of Appointment of Independent Registered Public Accounting
For |
Against |
Abstentions |
14,370,347 |
200 |
0 |
The forgoing proposal has been approved.
Item 8.01 Other Items.
On June 13, 2017, the Company issued a press release to provide an update on the commercialization of PhotonBlade. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits.
Exhibit No. |
Description |
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99.1 |
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Press release issued by Invuity, Inc. dated June 13, 2017. |
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.
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INVUITY, INC. |
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Date: June 13, 2017 |
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By: /s/ Philip Sawyer |
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Philip Sawyer |
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President and Chief Executive Officer |
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EXHIBIT INDEX
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Exhibit No. |
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Description |
99.1 |
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Press release issued by Invuity, Inc. dated June 13, 2017. |
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Exhibit 99.1 |
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NEWS RELEASE |
Invuity Provides Update on PhotonBlade Commercialization
SAN FRANCISCO, June 13, 2017 - Invuity, Inc. (NASDAQ:IVTY), a medical technology company focused on minimal access surgery, today provided an update on plans for PhotonBlade commercialization. As previously announced, the Company began a limited market release of PhotonBlade in March, 2017. During this phase, the Company gathered feedback on product performance which has informed upcoming product enhancements for PhotonBlade. In addition, a small number of customer observations were recently received, which related to possible unintended energy discharge with the potential to cause tissue damage to patients. To mitigate the potential for patient injury, the Company has elected to initiate a voluntary recall and remove the small number of remaining units from the field. The company expects to begin shipping product again in the third quarter of 2017, after planned product enhancements have been made.
“During this limited market release, we received extremely positive market feedback on PhotonBlade. However, due to a small number of reports of unintended energy release from the device we have proactively elected to take these steps”, said President and CEO Phillip Sawyer. “This is consistent with our corporate values centering on quality and safety and we are rapidly implementing product improvements in preparation for a full market release.”
About Invuity®
Invuity, Inc. is a leading medical technology company focused on developing and marketing advanced surgical devices to improve the ability of physicians to perform minimal access surgery through smaller and hidden incisions. The company's proprietary Intelligent Photonics™ technology delivers enhanced visualization which facilitates surgical precision, efficiency and safety. In addition, the company utilizes comprehensive strategic marketing programs to create stronger institutional partnerships. Clinical applications include women’s health, encompassing breast cancer and breast reconstruction surgery, gynecology and thyroid surgery. Additional applications include procedures for electrophysiology, spine, orthopedic, cardiothoracic, and general surgery. Invuity is headquartered in San Francisco, CA. For more information, visit www.invuity.com.
Forward-Looking Statements
This announcement contains forward-looking statements that involve risks and uncertainties, including statements regarding financial projections for 2017, expectations for the launch of PhotonBlade, future product introductions and our commercial strategies. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including, but not limited to: fluctuations in demand or failure to gain market acceptance for the
Company's devices; the Company's ability to demonstrate to and gain approval from hospitals to use the Company's devices; the highly competitive business environment for surgical medical devices; the Company's ability to sell its devices at prices that support its current business strategies; difficulty forecasting future financial performance; protection of the Company's intellectual property; and compliance with necessary regulatory clearances or approvals. The Company undertakes no obligation to update the forward-looking information in this release. More information about potential factors that could affect the Company's business and financial results is included in its filings with the Securities and Exchange Commission, including, without limitation, under the captions: "Management's Discussion and Analysis of Financial Condition and Results of Operations," and "Risk Factors," which are on file with the Securities and Exchange Commission.
CONTACT:
Company Contact:
Jim Mackaness
Chief Financial Officer
Invuity, Inc.
415-655-2129
Investors:
Mark Klausner
Westwicke Partners
443-213-0501
irdept@invuity.com
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