Rockwell Medical Inc.
07/15/2024 | Press release | Distributed by Public on 07/15/2024 04:51
Regulation FD Disclosure Form 8 K
| Item 1.01 | Entry into a Material Definitive Agreement. |
On July 12, 2024, Rockwell Medical, Inc. (the "Company") and Evoqua Water Technologies LLC, a Delaware limited liability company ("Evoqua"), executed Amendment No. 1 to the Asset Purchase Agreement (the "Amendment"), dated as of July 10, 2023, by and between the Company and Evoqua (the "Purchase Agreement"). The Amendment clarifies certain terms regarding physical assets covered by the Purchase Agreement and provides for an extended payment schedule for the deferred payments due by the Company to Evoqua and a partial reduction in such payments as follows:
| · | $2,500,000 (the "First Deferred Payment"), which shall be partially offset $322,260 to reimburse the Company for certain expenses incurred following the closing of the Purchase Agreement, resulting in a reduction of the First Deferred Payment to $2,177,740, and which shall be paid in four quarterly installments through April 2025; and |
| · | $2,500,000, which shall be payable to Evoqua in four quarterly installments from July 10, 2025 through April 10, 2026. |
The foregoing description of the Amendment and the transactions contemplated thereby does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K (this "Form 8-K") and incorporated herein by reference.