Current Report Filing (8-k)
August 29 2016 - 4:23PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON, DC 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):
August 29, 2016
ALBANY
MOLECULAR RESEARCH, INC.
(Exact name of registrant
as specified in its charter)
Delaware
(State or other jurisdiction
of incorporation)
001-35622
|
14-1742717
|
(Commission File Number)
|
(IRS Employer Identification No.)
|
|
|
26 Corporate Circle
|
|
Albany, New York
|
12203
|
(Address of principal executive offices)
|
(Zip Code)
|
(518) 512-2000
(Registrant’s telephone
number, including area code)
(Former address, if changed
since last report)
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))
|
Item 2.05 Costs Associated with Exit or Disposal
Activities.
On August 29, 2016, Albany Molecular
Research, Inc. (the “Company”) announced a restructuring plan with respect to certain operations in
the United States and Europe, in connection with its previously announced acquisition of Prime European Therapeuticals S.p.A
– Euticals (“Euticals”). Under the restructuring plan, the Company expects that it will incur certain one-time cash and non-cash
charges related to a reduction in force and other transition activities between $5.7 and $7.3 million. This includes non-cash
fixed asset impairment charges of approximately $0.06 million relating to the closure of a Euticals site and non-cash
share-based compensation modification charges of approximately $0.16 million. Cash charges will consist of $5.5 - $7.1
million of employee and other related costs and will primarily be paid during the second half of 2016. The Company expects
the majority of these charges to be recorded in the second half of 2016.
Item 2.06 Material Impairments
The information required to be disclosed under this item is
included in Item 2.05 above and incorporated by reference into this Item 2.06.
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.
|
ALBANY MOLECULAR RESEARCH, INC.
|
|
|
|
|
|
|
|
By:
|
/s/ Lori M. Henderson
|
|
|
Lori M. Henderson
|
|
|
Senior Vice President, General Counsel & Secretary
|
|
|
|
|
|
|
|
Date: August 29, 2016
|
Albany Molecular Research, Inc. (NASDAQ:AMRI)
Historical Stock Chart
From Aug 2024 to Sep 2024
Albany Molecular Research, Inc. (NASDAQ:AMRI)
Historical Stock Chart
From Sep 2023 to Sep 2024