Current Report Filing (8-k)

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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): March 29, 2022

CARDIOVASCULAR SYSTEMS, INC.

(Exact name of Registrant as Specified in its Charter)

Delaware

000-52082

41-1698056

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

1225 Old Highway 8 Northwest

St. Paul, Minnesota 55112-6416

(Address of Principal Executive Offices and Zip Code)

[phone]

(Registrant’s telephone number, including area code)

Not Applicable

(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:

☐			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))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (CFR 17 §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR § 240.12b-2).

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. ☐

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

Title of each class			Trading Symbol			Name of each exchange on which registered
Common Stock, One-tenth of One Cent ($0.001) Par Value Per Share			CSII			The Nasdaq Stock Market LLC

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Item 1.01.    Entry into a Material Definitive Agreement.

On March 29, 2022, Cardiovascular Systems, Inc. (the “Company”) entered into the Second Amendment to Loan and Security Agreement (the “Amendment”) with Silicon Valley Bank (“SVB”), which amends the Loan and Security Agreement between the Company and SVB, dated March 31, 2017 (as amended, the “Loan Agreement”).

The Amendment extends the maturity date of the Loan Agreement by one year, to March 31, 2023. In addition, the Amendment amends the early termination fee to be 1.5% of the maximum dollar amount, unless refinanced with SVB. The Amendment also includes various administrative changes.

No amounts are outstanding under the Loan Agreement as of the date of this report.

The description of the material terms of the Amendment contained in this report does not purport to be a complete description of the Amendment or the Loan Agreement and is qualified in its entirety by reference to the full text of the Amendment, which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the three months ending March 31, 2022.

Item 2.03.    Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The disclosures under Item 1.01 of this report with respect to the Amendment with SVB are incorporated herein by reference.

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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: March 30, 2022

 

CARDIOVASCULAR SYSTEMS, INC.
By:						/s/ Jeffrey S. Points
						Jeffrey S. Points Chief Financial Officer