Current Report Filing (8-k)
July 12 2021 - 8:01AM
Edgar (US Regulatory)
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2021-07-07
2021-07-07
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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): July 7, 2021
POLARITYTE, INC.
(Exact
name of registrant as specified in its charter)
Delaware
|
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001-32404
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06-1529524
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(State
or other jurisdiction
of
incorporation)
|
|
(Commission
File
Number)
|
|
(IRS
Employer
Identification
No.)
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1960
S. 4250 West, Salt Lake City, UT 84104
(Address
of principal executive offices and zip code)
Registrant’s
telephone number, including area code: (800) 560-3983
(Former
name or 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:
☐
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
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Trading
Symbol
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Name
of each exchange on which registered
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Common
Stock, Par Value $0.001
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PTE
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Nasdaq
Capital Market
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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).
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
1.02
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Termination
of a Material Definitive Agreement
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PolarityTE
MD, Inc., is a subsidiary of PolarityTE, Inc. (the “Company”). As previously reported in the Current Report on Form 8-K filed
with the Securities and Exchange Commission on April 25, 2019, PolarityTE MD entered into a sublease agreement (the “Sublease”)
with Joseph M. Still Burn Centers, Inc. (“JMS”), for 6,307 square feet of manufacturing, laboratory, and office space located
at 3647 J. Dewey Grey Circle, Augusta, Georgia (the “Facility”). The initial term of the sublease for the Facility was five
years commencing April 22, 2019. The annual base rental rate during the initial term was $119,833 per year, with a 3% annual increase
as determined by a third-party fair market value analysis. In addition, PolarityTE MD was obligated to pay (i) maintenance, repairs,
replacements, and restorations to the Facility, (ii) its own utilities, and (iii) its share of operating expenses for the building based
on the ratio of space leased by PolarityTE MD to the total leasable square footage of the building.
On
July 7, 2021, PolarityTE MD and JMS executed a termination agreement pursuant to which the parties agreed to terminate the lease effective
June 30, 2021, in exchange for a payment by PolarityTE MD to JMS of $31,782.69.
On
July 12, 2021, PolarityTE, Inc. (the “Company”) issued a press release titled “PolarityTE Receives Notice of Allowance
for Chinese Patent.” A copy of the press release is provided with this report as Exhibit 99.1.
Item
9.01
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Financial
Statements and Exhibits.
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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.
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POLARITYTE,
INC.
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Dated:
July 12, 2021
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/s/
Jacob Patterson
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Jacob
Patterson
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Interim
Chief Financial Officer
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