Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 20, 2020
(Exact name of registrant as specified in its charter)
New York 
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification Number)

 122 Smith Road, Kinderhook, NY
 (Address of principal executive offices)
 (Zip Code)
Registrant’s telephone number, including area code: 518-758-8158
Not applicable
(Former name or former address, if changed since last report.)
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Securities registered pursuant to Section 12(b) of the Act:
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 Over-the-counter-Pink Sheets
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 ☐
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ITEM 1.01
Entry into a Material Definitive Agreement
On February 20, 2020, American Bio Medica Corporation (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with Chaim Davis (the Chairman of our Board of Directors) and certain other accredited investors (the “Investors”), pursuant to which the Company has agreed to issue and sell to the Investors in a private placement (the “Private Placement”), 2,842,857 Units (the “Units”).
Each Unit consists of one (1) share of the Company’s common stock, par value $0.01 per share (“Common Share”), at a price per Unit of $0.07 (the “Purchase Price”) for aggregate gross proceeds of approximately $199,000. The Company received net proceeds of $199,000 from the Private Placement as expenses related to the Private Placement were minimal. The Company did not utilize a placement agent for the Private Placement. The company intends to use the net proceeds for working capital and general corporate purposes.
The Company does not intend to register the Units issued under the Private Placement; rather the Units issued will be subject to the holding period requirements and other conditions of Rule 144.
The Purchase Agreement contains customary representations, warranties and covenants made solely for the benefit of the parties to the Purchase Agreement. The Purchase Agreement is incorporated herein by reference, but only to provide information regarding the terms of the Purchase Agreement and not to provide any other factual information regarding the Company or its business, and should be read in conjunction with the disclosures in the Company’s periodic reports and other filings with the SEC. Although our Chairman of the Board is an investor in the Private Placement, the pricing of the Units was determined by the non-affiliate investors.
The foregoing description of the material terms of the Purchase Agreement is qualified in its entirety by reference to the full text of the Purchase Agreement, which is filed as Exhibit 4.27 to this Current Report on Form 8-K and incorporated herein by reference.
On February 24, 2020 (the “Closing Date”), American Bio Medica Corporation (the “Company”) completed a transaction related to a one-year Extension Agreement dated February 14, 2020 (the “Extension Agreement”) with Cherokee Financial, LLC (“Cherokee”) under which Cherokee has extended the due date of the Company’s credit facilities (a $900,000 (mortgage) Term Note and a $200,000 2019 Term Loan) to February 15, 2021. No terms of either facility were changed under the Extension Agreement. For consideration of the Extension Agreement, the Company agreed to issue 1.5% of the $200,000 principal, or $3,000, in 42,857 restricted shares of the Company’s common stock to Cherokee and, 2% of the $900,000 principal, or $18,000, in 257,143 restricted shares of the Company’s common stock to Cherokee on behalf of their investors.
The Company also agreed to pay Cherokee’s legal fees in the amount of $1,000.
Item 3.02
Unregistered Sales of Equity Securities
The information set forth above under Private Placement in Item 1.01 is hereby incorporated by reference into this Item 3.02. The issuance of the Common Shares shall be made pursuant to Section 4(2) of the Securities Act of 1933, as amended, and the rules promulgated thereunder, to accredited investors.
Item 9.01
Financial Statement and Exhibits
(d)           Exhibits
4.27           Form of Securities Purchase Agreement
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 25, 2020
/s/ Melissa A. Waterhouse
Melissa A. Waterhouse  
Chief Executive Officer (Principal Executive Officer)
Principal Financial Officer
American Bio Medica (PK) (USOTC:ABMC)
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