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) February 14, 2022
RETINALGENIX TECHNOLOGIES INC.
(Exact name of registrant as specified in its charter)
| Delaware | 333-258528 | 82-3936890 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(I. R. S. Employer Identification No.) |
1450 North McDowell Boulevard, Suite 150
Petaluma, CA 94954
(Address of principal executive offices, including zip code)
(415) 578-9583
(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)) |
Securities registered pursuant to Section 12(b) of the Act: None
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.
On February 14, 2022, RetinalGenix Technologies Inc. (the “Company”) entered into Termination of Option Exchange Agreement (the “Termination Agreement”) with Diopsys Inc. (“Diopsys”) pursuant to which the prior Option Exchange Agreement between the Company and Diopsys dated October 8, 2019 (the “Option Exchange Agreement”) was terminated effective immediately and of no further force and effect, and neither party has any past, current or future obligations or liabilities to the other (or any other person or entity) with respect to any rights, obligations or any of the transactions contemplated in the Agreement. . At the time of such termination, none of the conditions in the Option Exchange Agreement were satisfied and no options thereunder had been issued to either the Company or Diopsys. In addition, the Exclusive Distribution Agreement to be entered into between the Company and Diopsys and referred to in the Option Exchange Agreement had not been negotiated and does not currently exist. However, the Company and Diopsys are continuing their discussions regarding the aforementioned Exclusive Distribution Agreement and working in good faith towards negotiation and execution of a definitive agreement with respect thereto.
The foregoing description of the Termination Agreement is not complete and is qualified in its entirety by reference to the full text of the Termination Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and are incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |
| 10.1 | Termination of Optoin Exchange Agreement | |
| 104 | Inline XBRL for the cover page of this Current Report on Form 8-K |
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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.
| RETINALGENIX TECHNOLOGIES INC. | ||
| Date: February 17, 2022 | By: | /s/ Jerry Katzman |
Jerry Katzman Chief Executive Officer | ||
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Exhibit 10.1
Termination of Option Exchange Agreement
This Termination of Option Exchange Agreement (this “Termination”) is dated as of February 14, 2022 by and between RetinalGenix Technologies, Inc., a Delaware corporation (“RetinalGenix”) and Diopsys, Inc., a Delaware corporation (“Diopsys”). RetinalGenix and Diopsys are each sometimes referred to herein as a “Party” and collectively as the “Parties.”
WHEREAS, on October 8, 2019 the Parties entered into that certain Option Exchange Agreement (the “Agreement”) contemplating the issuance of options by each Party to the other to purchase up to 10% of the issued and outstanding shares of common stock of the other upon satisfaction of certain conditions set forth in the Agreement (the “Conditions”), and exclusive distribution of certain RetinalGenix products by Diopsys pursuant to an “Exclusive Distribution Agreement”;
WHEREAS, the Conditions have not been satisfied, the Options have not been issued, and the Exclusive Distribution Agreement has not been negotiated and does not currently exist;
WHEREAS, the Parties, after more than two years from signing the Agreement, now desire to terminate the Agreement along with all rights and obligations contemplated therein;
NOW, THEREFORE, for good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the Parties hereby agree as follows:
1. Termination of Option Exchange Agreement. Effective immediately, the Agreement is terminated and of no further force and effect. Neither Party shall have any past, current, or future obligations or liabilities to the other (or any other person or entity) with respect to any rights, obligations, or any of the transactions contemplated in the Agreement.
2. Mutual Release. The Parties each hereby unconditionally and irrevocably release and hold harmless the other, along with their officers, directors, employees, advisors, and affiliated parties, from any and all claims, losses, damages and the like (whether present, future, known, or unknown) arising out of or otherwise related to the Agreement, the transactions contemplated therein, and its termination.
3. Parties to Pay Their Own Costs. Each Party acknowledges and agrees that any and all fees (including, without limitation attorneys’ fees), costs, expenses, and the like incurred in connection with the Agreement, the transactions contemplated therein, or its termination shall be borne entirely by the Party incurring such fees, costs, and expenses.
4. Miscellaneous. For purposes of consistency, Article VII of the Agreement (Miscellaneous Provisions) shall be applicable to this Termination as if expressly included herein.
Intending to be legally bound, the Parties have each executed this Termination as of the date first above written.
| Diopsys, Inc. | RetinalGenix, Inc. | |||
| /s/ Joseph Fontanetta | /s/ Jerry Katzman | |||
| By: | Joseph Fontanetta | By: | Jerry Katzman, M.D. | |
| Its: | President and CEO | Its: | President and CEO | |
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