Current Report Filing (8-k)
February 10 2017 - 5:31PM
Edgar (US Regulatory)
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):
February 6, 2017
Nxt-ID, Inc.
(Exact name of registrant as specified
in its charter)
Delaware
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000-54960
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46-0678374
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(State or other jurisdiction
of incorporation)
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(Commission File Number)
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(IRS Employer
Identification No.)
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Nxt-ID, Inc.
285 North Drive
Suite D
Melbourne, FL 32934
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including
area code:
(203) 266-2103
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
(see General Instruction A.2. below):
☐
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 1.01 Entry into a Material Definitive Agreement
As previously disclosed on Current Report to
Form 8-K filed by Nxt-ID, Inc. (the “Company”) on July 27, 2016, on July 25, 2016, the Company entered into a securities
purchase agreement with certain accredited investors (the “Investors”) under which the Investors agreed to purchase
an aggregate of 4,500,000 shares of the Company’s Series B Convertible Preferred Stock, par value $0.0001 per share (the
“Series B Preferred Stock”), and warrants to purchase 5,625,000 shares of the Company’s common stock, par value
$0.0001 per share (the “Common Stock”), for an aggregate purchase price of $4,500,000 (the “Equity Financing”).
On February 6, 2017, several of the Investors
and the Company entered into letter agreements (the “Letter Agreements”), pursuant to which the Investors agreed that
until the Investors no longer hold Common Stock underlying the Series B Preferred Stock, each Investor will not trade more than
6.5% (18.75% in the aggregate) of the daily trading volume of the Common Stock on any day that any market or exchange on which
the Common Stock is listed or quoted for trading is open for trading.
The foregoing description of the terms of the
Letter Agreements is qualified in its entirety by reference to the provisions of the Form of Letter Agreement filed as Exhibit
10.1 to this Current Report to Form 8-K, which is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
Exhibit No.
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Description
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Exhibit 10.1
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Form of Letter Agreement, dated February 6, 2017
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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.
Date: February 10, 2017
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NXT-ID, INC.
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By:
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/s/ Gino M. Pereira
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Name: Gino M. Pereira
Title: Chief Executive Officer
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