UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 1.02 | Termination of a Material Definitive Agreement |
PolarityTE MD, Inc., is a subsidiary of PolarityTE, Inc. (the “Company”). As previously reported in the Current Report on Form 8-K filed with the Securities and Exchange Commission on April 15, 2020, PolarityTE MD, Inc. (the “Borrower”), entered into a promissory note with KeyBank, N.A., a national banking association (the “Lender”) evidencing an unsecured loan in the amount of $3,576,145 made to the Borrower under the Paycheck Protection Program (the “Loan”). The Paycheck Protection Program was established under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) and is administered by the U.S. Small Business Administration (the “SBA”).
On October 15, 2020, the Borrower applied to the Lender for forgiveness of the Loan in its entirety (as provided for in the CARES Act) based on the Borrower’s use of the Loan for payroll costs, rent, and utilities. On October 26, 2020, the Borrower was advised that the Lender approved the application, and that the Lender was submitting the application to the SBA for a final decision.
The Borrower has now received notice from the Lender that the SBA approved the Borrower’s application for forgiveness of the Loan and that the Loan was fully paid by the SBA on June 12, 2021, relieving the Borrower of any liability under the Loan.
Item 5.07 | Submission of Matters to a Vote of Security Holders |
The Company held its 2021 Annual Meeting of Stockholders on June 15, 2021. At the Annual Meeting, the stockholders voted on the following three proposals:
1. | The election of two Class I directors nominated by the Board of Directors for a three-year term; |
2. | Approval, by a non-binding advisory vote, of the compensation of the Company’s named executive officers; and |
3. | The ratification of the appointment of EisnerAmper LLP as the Company’s independent public accountant for the fiscal year ending December 31, 2021; and |
At the meeting, the stockholders elected the nominees and approved the remaining proposals by the following vote:
Proposal No. 1 | Election of Class I Directors |
Votes For | Votes Withheld | Broker Non-Votes | ||||||||||
Minnie Baylor-Henry | 10,516,823 | 3,569,590 | 28,909,445 | |||||||||
Jeff Dyer | 8,839,731 | 5,246,682 | 28,909,445 |
Proposal No. 2 | Advisory Vote on the Compensation of the Company’s Named Executive Officers |
Votes For | Votes Against | Abstain | Broker Non-Votes | |||||||||||
7,350,075 | 6,197,606 | 538,732 | 28,909,445 |
Proposal No. 3 | Ratify the Appointment of EisnerAmper LLP as the Company’s Independent Public Accountant |
Votes For | Votes Against | Abstain | Broker Non-Votes | |||||||||||
41,728,301 | 342,300 | 925,257 | -0- |
Item 9.01 | Financial Statements and Exhibits. |
(d) | Exhibits. |
Exhibit No. | Description | |
104 | Cover Page Interactive Data File, formatted in Inline XBRL |
SIGNATURES
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.
POLARITYTE, INC. | |
Dated: June 17, 2021 | /s/ Jacob Patterson |
Jacob Patterson | |
Interim Chief Financial Officer |