SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): April 24, 2019
DELCATH SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
(State or Other Jurisdiction
1633 Broadway, Suite 22C, New York, New York 10019
(Address of principal executive offices, including zip code)
(Registrants telephone number, including area code)
(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 (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))
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 1.01.|| |
Entry into a Material Definitive Agreement.
On April 26, 2019, Delcath Systems, Inc. (the Company) borrowed $920,000 from two institutional investors and issued promissory notes to those investors. The promissory notes have a principal amount of $920,000, bear interest at the rate of 8% per annum and are due on October 26, 2019. The note contains standard events of default and remedies therefor. The Companys obligations under the promissory note to the institutional investor are secured by a lien on the Companys assets.
|Item 2.03|| |
Creation of a Direct Financial Obligation
See Item 1.01 above.
|Item 2.04.|| |
Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.
On April 24, 2019, the Company received a notice of default with regard to the 8% Senior Secured Convertible Notes due March 21,2019 (the 2019 Notes) and the 8% Senior Secured Notes due March 21, 2020 (the 2020 Notes) held by District 2 Capital Fund LP (District Capital) and Bigger Capital Fund, LP (Bigger Capital) with respect to specified defaults. The notice states that District Capital and Bigger Capital have opted to accelerate those Notes at the Default Amount as defined in those notes.
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.
|DELCATH SYSTEMS, INC.|
|Dated: May 2, 2019||By:|
|Name: Jennifer K. Simpson, Ph.D.|
|Title: President and Chief Executive Officer|