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Published: 2021-08-03 14:16:34 ET
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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)  July 28, 2021

 

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):

 

¨  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))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock RVP NYSE American

 

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

 

Effective July 28, 2021, the Company entered into a modification to the February 2021 contract with the U.S. Department of Health and Human Services, Office of the Assistant Secretary for Preparedness & Response (“DHHS/ASPR”). The modification represents a binding commitment by DHHS/ASPR to exercise options under the contract corresponding to delivery of VanishPoint low dead space safety syringes through December 31, 2021. The Company has previously disclosed DHHS/ASPR’s nonbinding written intent to exercise such options. Timing changes and an increase in agreed freight reimbursement result in a slight increase in the overall expected revenue under the contract during the exercised option periods. Including freight reimbursement, the overall value of the modification is $50,684,375.

 

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:  August 3, 2021 RETRACTABLE TECHNOLOGIES, INC.
  (Registrant)
     
     
  BY: /s/ JOHN W. FORT III
    JOHN W. FORT III
    VICE PRESIDENT, CHIEF FINANCIAL OFFICER, AND CHIEF ACCOUNTING OFFICER