Current Report Filing (8-k)
27 June 2017 - 6:18AM
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):
June 21, 2017
Enumeral Biomedical Holdings,
Inc.
(Exact name of registrant as specified
in its charter)
(Exact name of registrant as specified
in its charter)
Delaware
(State or Other Jurisdiction
of Incorporation)
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000-55415
(Commission File
Number)
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99-0376434
(I.R.S. Employer
Identification
Number)
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200 CambridgePark Drive, Suite 2000
Cambridge, Massachusetts
(Address of Principal Executive Offices)
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02140
(Zip Code)
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(617) 945-9146
(Registrant’s telephone number,
including area code)
N/A
(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:
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))
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 2.01
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Completion of Acquisition or Disposition of Assets.
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On June 21, 2017, Enumeral Biomedical Holdings, Inc. (the
“Company”) completed an auction process pursuant to which the Company has sold all of the equipment related to its
research and development activities. The Company sold this laboratory equipment in connection with its previously announced decision
to eliminate its research and development function. The Company expects to receive cash proceeds in the range of $265,000 to $290,000,
net of auction expenses, from the sale of this equipment. Each piece of equipment was sold to the highest bidder in the auction,
and there is no material relationship between any of the purchasers of the equipment and the Company, or any director or officer
of the Company, or any associate of any such director or officer. As a result of this laboratory equipment sale, the Company expects
to incur a loss on disposal of fixed assets in the range of $300,000 to $325,000 during the three month period ending June 30,
2017.
The Company is continuing to explore all available strategic
alternatives. As of the date of this filing, and after giving effect to the net proceeds from the equipment sale referenced above,
as well as the headcount reductions previously announced and other cost reduction efforts, the Company believes that it has sufficient
cash to continue to explore strategic alternatives only into July 2017.
If the Company is unable to effect a strategic transaction
or raise additional capital on a timely basis in the near term, the Company will be required to further downsize or wind down its
operations through liquidation, bankruptcy, or a sale of its remaining assets.
Item 2.05
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Costs Associated with Exit or Disposal Activities.
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The information contained in Item 2.01 of this Current Report
on Form 8-K is incorporated herein by reference.
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.
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ENUMERAL BIOMEDICAL HOLDINGS, INC.
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Dated: June 26, 2017
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By:
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/s/ Kevin G. Sarney
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Name:
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Kevin G. Sarney
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Title:
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Vice President of Finance, Chief Accounting Officer and Treasurer
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