- Current report filing (8-K)
18 9월 2009 - 5:33AM
Edgar (US Regulatory)
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 11,
2009
deCODE
genetics, Inc.
(Exact Name of Registrant as
Specified in Charter)
Delaware
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000-30469
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04-3326704
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(State or Other Juris-
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(Commission
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(I.R.S. Employer
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diction of Incorporation)
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File Number)
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Identification No.)
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Sturlugata 8, IS-101
Reykjavik, Iceland
(Address
of Principal Executive Offices)
Registrants telephone number, including area code
+354-570-1900
(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:
o
Written
communications pursuant to Rule 425 under the Securities Act
o
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act
o
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act
o
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act
Item 1.01. Entry into a Material Definitive Agreement
On September 11, 2009,
deCODE genetics, Inc. (deCODE) and its subsidiaries MediChem Life
Sciences, Inc. (MediChem) and deCODE Biostructures, Inc. (Biostructures
and collectively with deCODE and MediChem, the Borrowers) jointly and
severally executed and delivered to Saga Investments LLC (the Lender) a secured
promissory note in the amount of $700,000 (the Note). The Note bears interest at the rate of 8% per
annum and is payable in full on October 11, 2009, subject to acceleration
upon the occurrence of an event of default, including failure to pay other indebtedness,
incurrence of certain other indebtedness and certain changes in the Borrowers
usual business activities. The proceeds
of the Note will be used for working capital.
deCODEs
foreign and domestic subsidiaries which are not parties to the Note (the Guarantors)
have executed and delivered to the Lender a guaranty of the Borrowers
obligations under the Note (the Guaranty).
To secure their obligations
under the Note and the Guaranty, each of the Borrowers and the Guarantors has
executed and delivered to the Lender a security agreement pursuant to which it
granted the Lender a security interest in all of its personal property,
tangible and intangible, now owned and later acquired, including capital stock
in subsidiaries.
Item 2.03. Creation of a
Direct Financial Obligation or an Obligation under an Off-Balance Sheet
Arrangement of a Registrant.
The information set forth in Item 1.01 of this Current Report on Form 8-K
is incorporated herein by reference.
Item 3.01. Notice of
Delisting or Failure to Satisfy a Continued Listing Rule or Standard;
Transfer of Listing.
On
September 15, 2009, deCODE received a notice from the Nasdaq Stock Market
indicating that deCODE is not in compliance with Nasdaq Listing Rule 5450(a)(1) (the
Minimum Bid Price Rule) because the closing bid price per share for its
common stock has been below $1.00 per share for 30 consecutive business
days. In accordance with Nasdaq Listing Rules, deCODE will be provided
180 calendar days, or until March 15, 2010, to regain compliance with the
Minimum Bid Price Rule. deCODE can achieve compliance if at any time before March 15, 2010,
its common stock closes at $1.00 per share or more for at least 10 consecutive
business days. This notification has no
effect on the listing of deCODEs common stock at this time.
If deCODE has not regained
compliance by March 15, 2010, it will receive a written notification that
its common stock is subject to delisting.
At that time, deCODE may appeal the determination to a Nasdaq Hearings
Panel. If deCODE cannot meet the
requirements for continued listing on The Nasdaq Global Market, it will
consider whether to apply to transfer its common stock to The Nasdaq Capital
Market.
A copy of the press release announcing deCODEs receipt of the notification
from the Nasdaq Stock Market is furnished as Exhibit 99.1 to this Current
Report on Form 8-K.
Item 9.01. Financial
Statements and Exhibits.
(d) Exhibits
99.1 Press Release
issued September 17, 2009
2
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.
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deCODE
genetics, Inc.
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By:
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/s/
KARI STEFANSSON
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Kari
Stefansson
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President,
Chief Executive Officer
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Dated:
September 17, 2009
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3
Decode Genetics (MM) (NASDAQ:DCGN)
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