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Date of report (Date of earliest event reported)
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(Exact Name of Registrant as Specified in its Charter)
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(State of Incorporation)
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(Commission File Number)
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(I.R.S. Employer
Identification No.)
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(Address of Principal Executive Offices)
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(Zip Code)
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(
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(Registrant’s Telephone Number, Including Area Code)
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Title of Each Class
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Trading Symbol(s)
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Name of Each Exchange on Which Registered
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Emerging growth company
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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.
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☐
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Item 1.01 | Entry into a Material Definitive Agreement. |
Item 9.01 | Financial Statements and Exhibits. |
(d) | Exhibits. | |
Exhibit Index: |
Exhibit
Number
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Description
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||
104
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Cover Page Interactive Data File (embedded within the Inline XBRL document)
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SURMODICS, INC.
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Date: March 7, 2022
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/s/ Gordon S. Weber
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Gordon S. Weber
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Senior Vice President of Legal, General Counsel and Secretary
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BORROWER AND A LOAN PARTY: | ||
SURMODICS, INC., a Minnesota corporation | ||
By: |
/s/ Timothy J. Arens | |
Name: |
Timothy J. Arens
|
|
Title: |
Vice President, Finance and Chief Financial Officer
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SUBSIDIARY GUARANTORS AND LOAN PARTIES:
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||
SURMODICS SHARED SERVICES, LLC, a Minnesota limited liability company
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||
By: |
/s/ Gordon S. Weber
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|
Name: |
Gordon S. Weber
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Title: |
Manager
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SURMODICS COATINGS, LLC, a Minnesota limited liability company
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||
By: |
/s/ Gordon S. Weber
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|
Name: |
Gordon S. Weber | |
Title: |
Manager |
SURMODICS COATINGS MFG, LLC, a Minnesota limited liability company
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||
By: |
/s/ Gordon S. Weber
|
|
Name: |
Gordon S. Weber | |
Title: |
Manager | |
SURMODICS IVD, INC., a Maryland corporation
|
||
By: |
/s/ Timothy J. Arens
|
|
Name: |
Timothy J. Arens
|
|
Title: |
Vice President and Treasurer
|
|
NORMEDIX, INC., a Minnesota corporation
|
||
By: |
/s/ Timothy J. Arens
|
|
Name: |
Timothy J. Arens | |
Title: |
Vice President and Treasurer | |
SURMODICS MD OPERATIONS, LLC, a Minnesota limited liability company
|
||
By: |
/s/ Gordon S. Weber
|
|
Name: |
Gordon S. Weber | |
Title: |
Manager |
LENDER:
|
||
BRIDGEWATER BANK | ||
By: |
/s/ Pat W. Cullen
|
|
Name: |
Pat W. Cullen
|
|
Title: |
Senior Vice President
|
(a)
|
Minimum Liquidity. Pursuant to Section 7.3(a), aggregate Unencumbered Liquid Assets, determined as of the Determination Date was [$___________], which ☐satisfies ☐does not satisfy the requirement that such Unencumbered Liquid Assets be not less than as set forth in Section 7.3(a) of
the Loan Agreement as of the Determination Date.
|
(b)
|
Minimum Current Ratio. Pursuant to Section 7.3(b), Current Ratio determined as of the Determination Date was _______ to 1.00 which ☐satisfies ☐does not satisfy
the requirement that such ratio be not less than as set forth in Section 7.3(b) of the Loan Agreement as of the Determination Date.
|
(c)
|
Minimum Revenue. Pursuant to Section 7.3(c), Borrower’s quarterly revenue for the fiscal quarter ending on the Determination Date was $______________,
which ☐satisfies ☐does not satisfy the requirement in Section 7.3(c) of the Loan Agreement that for the fiscal quarter ending March 31, 2022 through the termination of this Agreement, Borrower
shall achieve quarterly revenue as of the end of each fiscal quarter of less than $20,000,000 in no more than one fiscal quarter.
|
(d)
|
Minimum Tangible Net Worth.
Pursuant to Section 7.3(d), Tangible Net Worth determined as of the Determination Date was $______________ which ☐satisfies ☐does not satisfy the requirement that such Tangible Net Worth be not less than as set forth
in Section 7.3(d) of the Loan Agreement as of the Determination Date.
|
LOAN PARTY REPRESENTATIVE:
|
||
SURMODICS, INC., a Minnesota corporation
|
||
By:
|
||
Name:
|
||
Title: |
Document and Entity Information |
Mar. 07, 2022 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Mar. 07, 2022 |
Entity Registrant Name | Surmodics, Inc. |
Entity Incorporation, State or Country Code | MN |
Entity File Number | 0-23837 |
Entity Tax Identification Number | 41-1356149 |
Entity Address, Address Line One | 9924 West 74th Street |
Entity Address, City or Town | Eden Prairie |
Entity Address, State or Province | MN |
Entity Address, Postal Zip Code | 55344 |
City Area Code | 952 |
Local Phone Number | 500-7000 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Entity Emerging Growth Company | false |
Entity Central Index Key | 0000924717 |
Title of 12(b) Security | Common Stock, $0.05 par value |
Trading Symbol | SRDX |
Security Exchange Name | NASDAQ |
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