Extracted from this filing and checked against the source text.
Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
Hyperfine, Inc. announced a restructuring with charges of up to $1.7 million affecting global workforce, including subsidiary Liminal Sciences, Inc. (approximately 13% of its global workforce).
- Type
- restructuring
- Charge
- up to $1.7 million
- Affected area
- global workforce, including subsidiary Liminal Sciences, Inc.
- Headcount
- approximately 13% of its global workforce
Exact text from the filing
On December 6, 2022, Hyperfine, Inc. (the “Company”) committed to an organizational restructuring designed to decrease its costs and create a more streamlined organization to support its business. As a result, the Company has terminated approximately 13% of its global workforce including, among others, the employees of its subsidiary, Liminal Sciences, Inc. In connection with the restructuring, the Company currently estimates it will incur up to $1.7 million of costs, consisting primarily of cash severance costs, other severance benefits, fixed asset impairment costs and other related restructuring costs.
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