Current Report Filing (8-k)
September 08 2021 - 4:16PM
Edgar (US Regulatory)
0000868278
false
0000868278
2021-09-08
2021-09-08
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
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): September 8, 2021
PROPHASE
LABS, INC.
(Exact
name of Company as specified in its charter)
Delaware
|
|
000-21617
|
|
23-2577138
|
(State
or other jurisdiction
of
incorporation)
|
|
(Commission
File
Number)
|
|
(I.R.S.
Employer
Identification
No.)
|
711
Stewart Avenue, Suite 200
Garden
City, New York
|
|
11530
|
(Address of principal executive
offices)
|
|
(Zip Code)
|
Registrant’s
telephone number, including area code: (215) 345-0919
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Company 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))
|
Securities
Registered Pursuant to Section 12(b) of the Exchange Act:
Title
of Each Class
|
|
Trading
Symbol
|
|
Name
of Each Exchange on Which Registered
|
Common Stock, par value
$0.0005
|
|
PRPH
|
|
Nasdaq Capital Market
|
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
7.01 Regulation FD.
On
September 8, 2021, ProPhase Labs, Inc. (the “Company”) issued a press release announcing a new stock repurchase program,
as described in greater detail in Item 8.01 of this Current Report on Form 8-K. A copy of this press release is furnished as Exhibit
99.1 to this Current Report on Form 8-K.
The
information included in Item 7.01 of this Current Report on Form 8-K and Exhibit 99.1 shall not be deemed “filed” for purposes
of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be incorporated by reference in any registration statement
filed under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated by reference therein.
Item
8.01 Other Events.
On
September 8, 2021, the Company announced that its board of directors (the “Board”) approved a new stock repurchase program.
Under the stock repurchase program, the Company is authorized to repurchase up to $6.0 million of its outstanding common stock. Under
the new program, the Company may repurchase its common stock from time to time, over the next six months, through open market transactions
(based on prevailing market prices), privately negotiated transactions, block trades, or any combination thereof, in accordance with
applicable federal securities laws, including Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The number of shares to
be repurchased and the timing of the repurchases, if any, will depend on a number of factors, including, but not limited to, price, trading
volume and general market conditions, along with the Company’s working capital requirements and general business conditions. The
Board will re-evaluate the program from time to time, and may authorize adjustments to its terms. The Company expects to utilize its
existing funds to fund repurchases under the repurchase program.
Item
9.01 Financial Statements and Exhibits.
(d)
Exhibits
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
|
ProPhase Labs, Inc.
|
|
|
|
|
By:
|
/s/ Monica
Brady
|
|
|
Monica Brady
|
|
|
Chief Financial Officer
|
Date:
September 8, 2021
ProPhase Labs (NASDAQ:PRPH)
Historical Stock Chart
From Mar 2024 to Apr 2024
ProPhase Labs (NASDAQ:PRPH)
Historical Stock Chart
From Apr 2023 to Apr 2024