RETRACTABLE TECHNOLOGIES INC — Capital/Financing Update 2017

Jan 13, 2017

8-K 1 a17-2089_18k.htm 8-K

*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) January 12, 2017

*Retractable Technologies, Inc.*

(Exact name of registrant as specified in its charter)

Texas	001-16465	75-2599762
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)

511 Lobo Lane, Little Elm, Texas	75068-5295
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code (972) 294-1010

*None*

(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):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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*Item 1.01 Entry into a Material Definitive Agreement.*

On January 12, 2017, Retractable Technologies, Inc. (the “Company”) issued and sold to Thomas J. Shaw, its founder, President, Chief Executive Officer, and majority shareholder, two million shares of Common Stock of the Company (the “Shares”) at a purchase price of $0.89 per share, for aggregate consideration of $1.78 million. The Shares were sold pursuant to the terms of the Purchase Agreement attached hereto as Exhibit 10.1, which is incorporated herein by reference. The Shares have not been registered under the Securities Act of 1933, as amended. The Company intends to rely on the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended, and Rule 506(b) thereunder for the issuance of securities to Mr. Shaw. The foregoing summary of the terms of the Purchase Agreement does not purport to be complete and is qualified in its entirety by the Purchase Agreement attached hereto as Exhibit 10.1.

*Item 3.02 Unregistered Sales of Equity Securities.*

The information provided in Item 1.01 is hereby incorporated by reference to this Item 3.02.

*Item 9.01 Financial Statements and Exhibits.*

(d) Exhibits

10.1 Purchase Agreement dated as of January 12, 2017, by and between Retractable Technologies, Inc. and Thomas J. Shaw

*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.

DATE: January 13, 2017	RETRACTABLE TECHNOLOGIES, INC.
	(Registrant)
BY:	/s/ DOUGLAS W. COWAN
	DOUGLAS W. COWAN
	VICE PRESIDENT, CHIEF FINANCIAL OFFICER, AND CHIEF ACCOUNTING OFFICER

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