Current Report Filing (8-k)

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 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):

 

October 19, 2021

 

SUPERIOR DRILLING PRODUCTS, INC.

(Exact name of registrant as specified in its charter)

 

Utah		46-4341605
(State of Incorporation)		(I.R.S. Employer Identification No.)
1583 South 1700 East Vernal, Utah		84078
(Address of principal executive offices)		(Zip code)

 

Commission File Number: 001-36453

 

Registrant’s telephone number, including area code: [phone]

 

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:

 

☐	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 Exchange Act:

 

Title of each class:		Trading Symbol(s)		Name of each exchange on which registered:
Common Stock, $0.001 par value		SDPI		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 8.01 Other Events

 

On October 19, 2021, Superior Drilling Products, Inc. (the “Company”) issued a press release announcing the closing of the transactions contemplated by the securities purchase agreement (the “Purchase Agreement”) between the Company and certain institutional investors dated October 14, 2021, which provides for the sale and issuance by the Company to certain institutional investors of an aggregate of 1,739,131 shares of the Company’s common stock at an offering price of $1.15 per share in a registered direct offering (the “Registered Offering”) priced at-the-market under NYSE American rules for gross proceeds of approximately $2,000,000 before deducting EF Hutton, division of Benchmark Investments, LLC (the “Placement Agent”) fees and related offering expenses.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits.

 

The following exhibits are included with this Current Report on Form 8-K:

 

Exhibit No.		Description
99.1		Press Release dated October 19, 2021
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

SIGNATURE

 

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.

 

		Superior Drilling Products, Inc.
		(Registrant)
October 20, 2021		/s/ Christopher D. Cashion
(Date)		Christopher D. Cashion
		Chief Financial Officer