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): November 9, 2017

 

Amedica Corporation

(Exact name of registrant as specified in its charter)

 

Delaware   001-33624   84-1375299

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

1885 West 2100 South

Salt Lake City, UT

  84119
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (801) 839-3500

 

Not applicable

(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:

 

[  ] 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))

 

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 [X]

 

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 3.03 Material Modification to Rights of Security Holders.

 

As previously announced in our Current Report on Form 8-K dated October 11, 2017, at a special meeting of the stockholders of Amedica Corporation (the “ Company ”) held on October 10, 2017, the Company’s stockholders approved an amendment to the Company’s Restated Certificate of Incorporation to effect a reverse split of the Company’s common stock, par value $0.01 (the “ Common Stock ”) and authorized the Board of Directors (the “ Board ”) to, at their sole discretion, select a ratio of between 1-for-2 and 1-for-15, inclusive.

 

Subsequently, the Board determined to set the reverse stock split ratio at 1-for-12 (the “ Reverse Stock Split ”). The Reverse Stock Split became effective as of 12:01 a.m., Eastern Time on November 10, 2017 (the “ Effective Time ”), pursuant to a Certificate of Amendment (the “ Certificate of Amendment ”) to the Company’s Restated Certificate of Incorporation filed with the Secretary of State of the State of Delaware on November 9, 2017.

 

A copy of the Certificate of Amendment is attached hereto as Exhibit 3.1 and is incorporated herein by reference. This discussion is qualified in its entirety by reference to the full text of the Certificate of Amendment.

 

In connection with the Reverse Stock Split, the CUSIP number of the Common Stock will be changed to 023435 407. The Common Stock began trading on The Nasdaq Capital Market on a split-adjusted basis on November 10, 2017.

 

As a result of the Reverse Stock Split, every twelve (12) shares of the Company’s issued and outstanding common stock, par value $0.01 will be converted into one (1) share of common stock, par value $0.01 reducing the number of issued and outstanding shares of the Company’s common stock from approximately 36.26 million to approximately 3 million. There was no change in the par value of the common stock.

 

No fractional shares were issued in connection with the Reverse Stock Split. Stockholders who otherwise would be entitled to receive fractional shares because they hold a number of pre-reverse stock split shares of the Company’s common stock not evenly divisible by twelve (12), will have the number of post-reverse split shares of the Company’s common stock to which they are entitled rounded up to the next whole number of shares of the Company’s common stock. No stockholders will receive cash in lieu of fractional shares.

 

The Reverse Stock Split will not change the authorized number of shares of common stock or preferred stock of the Company. Pursuant to the terms of the Company’s outstanding convertible securities, options and warrants, the number of shares into which such convertible securities may be converted will be proportionately adjusted to reflect the Reverse Stock Split, and, pursuant to their terms, a proportionate adjustment will be made to the per share exercise price and number of shares issuable under of all of the Company’s outstanding stock options and warrants to purchase shares of common stock, and the number of shares reserved for issuance pursuant to the Company’s equity compensation plans will be reduced proportionately.

 

Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

 

The information set forth in Item 3.03 of this Current Report on Form 8-K is incorporated herein by reference.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit Number   Description
3.1   Certificate of Amendment to the Restated Certificate of Incorporation of Amedica Corporation

 

 

 

 

SIGNATURE

 

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.

 

  AMEDICA CORPORATION
   
Date: November 16, 2017 By: /s/ B. Sonny Bal
    B. Sonny Bal
    Chief Executive Officer

 

 

 

 

EXHIBIT INDEX

 

Exhibit Number   Description
3.1   Certificate of Amendment to the Restated Certificate of Incorporation of Amedica Corporation

 

 

 

 

AMEDICA CORP (NASDAQ:AMDA)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more AMEDICA CORP Charts.
AMEDICA CORP (NASDAQ:AMDA)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more AMEDICA CORP Charts.