Current Report Filing (8-k)
20 May 2021 - 5:35AM
Edgar (US Regulatory)
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)
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May 12, 2021
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Retractable
Technologies, Inc.
(Exact name of registrant as specified in its charter)
Texas
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001-16465
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75-2599762
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(State or other jurisdiction
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(Commission
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(IRS Employer
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of incorporation)
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File Number)
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Identification No.)
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511
Lobo Lane, Little Elm, Texas
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75068-5295
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant's telephone number, including area code
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(972) 294-1010
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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
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Trading Symbol(s)
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Name of each exchange on which registered
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Common Stock
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RVP
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NYSE American
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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).
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Emerging growth company ¨
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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. ¨
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Item 1.01
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Entry into a Material Definitive
Agreement
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Effective May 12, 2021
Retractable Technologies, Inc. entered into an amendment to the Technology Investment Agreement (originally awarded on
July 1, 2020) with the U.S. Government providing for $27,365,232 in additional funding. The amendment calls for an increase in
existing domestic manufacturing capabilities by a minimum of 50% in order to meet ongoing and future U.S. COVID-19 medical
countermeasures demands. In order to satisfy this new objective, Retractable is directed to increase U.S. production of 1mL low dead
space safety syringes by installing new assembly lines and further expanding a portion of its facilities in Little Elm, Texas. The
scheduled end date for the modification effort is January 31, 2022.
Forward-looking statements are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 and reflect
Retractable's current views with respect to future events. Retractable believes that the expectations reflected in such
forward-looking statements are accurate. However, Retractable cannot assure you that such expectations will materialize. Actual
future performance could differ materially from such statements. Factors that could cause or contribute to such differences include,
but are not limited to: the impact of COVID-19 on all facets of logistics and operations, as well as costs, Retractable’s
ability to complete capital improvements and ramp up domestic production in response to government agreements, potential tariffs,
Retractable's ability to maintain liquidity; Retractable's maintenance of patent protection; Retractable's ability to maintain
favorable third party manufacturing and supplier arrangements and relationships; foreign trade risk; Retractable's ability to access
the market; production costs; the impact of larger market players in providing devices to the safety market; and other risks and
uncertainties that are detailed from time to time in Retractable's periodic reports filed with the U.S. Securities and Exchange
Commission.
On May 17, 2021, the
Company issued a press release, a copy of which is attached to this Form 8-K as Exhibit 99, announcing results for the first
quarter of 2021.
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Item 9.01
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Financial Statements and Exhibits.
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(d) Exhibits
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: May 19,
2021
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RETRACTABLE TECHNOLOGIES, INC.
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(Registrant)
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BY:
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/s/ JOHN
W. FORT III
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JOHN W. FORT III
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VICE PRESIDENT, CHIEF FINANCIAL OFFICER, AND CHIEF ACCOUNTING OFFICER
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