8-K
filed April 23, 2024, 7:59 PM ET
ticker RNLXY
CIK 0001811115
leadership
confidence high
sentiment neutral
materiality 0.75
Renalytix president McLain resigns, Howard Doran appointed; equity offering expanded
Renalytix plc
- Thomas McLain resigns as President effective April 30, 2024; severance includes 6 months base salary ($450K) and accelerated vesting of 12 months of options.
- Howard Doran appointed President effective April 30, 2024; base salary increased to $350K from $300K.
- Investor DB Capital exercised option to buy 1,333,334 additional shares at $0.375/share, raising net ~$0.5M.
- Shareholders approved allotment of up to 26.8M new ordinary shares and related pre-emptive waivers with >98% support.
- Original option exercise period extended to April 22, 2024 via letter agreement; total offering includes 4M shares at $0.375.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Thomas McLain resigned as President at Renalytix plc.
- Action
- resigned
- Role
- President
Exact text from the filing
On April 17, 2024, Thomas McLain notified the Company that he will resign as President of the Company, effective April 30, 2024
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Howard Doran was appointed as President at Renalytix plc.
- Action
- appointed
- Role
- President
Exact text from the filing
On April 23, 2024, the Company’s Board of Directors (the “ Board ”) appointed Howard Doran, currently the Company’s Chief Business Officer, to serve as the Company’s President, effective as of April 30, 2024.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Renalytix plc entered into Purchase Agreement with DB Capital Partners Healthcare, L.P. (effective 2024-04-05).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- DB Capital Partners Healthcare, L.P.
- Effective
- 2024-04-05
Exact text from the filing
on April 5, 2024, Renalytix plc (the “ Company ”) entered into a securities purchase agreement (the “ Purchase Agreement ”) with DB Capital Partners Healthcare, L.P. (the “ Purchaser ”)
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Renalytix plc shareholders approved Authorization of disapplication of pre-emption rights limited to shares of maximum aggregate nominal amount of £128,391 at the 2024-04-22 meeting.
- Outcome
- passed
- Meeting
- 2024-04-22
Exact text from the filing
Proposal 4 – Subject to and conditional upon the passing of Proposal 2, to authorize the disapplication of pre-emption rights limited to shares of a maximum aggregate nominal amount of £128,391. For Against Vote Withheld 45,853,622 4,859,914 120,004
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Renalytix plc shareholders approved Authorization of allotment of shares and grant of rights to subscribe for or convert into shares up to aggregate nominal amount of £128,391 and further allotment in connection with pre-emptive offer at the 2024-04-22 meeting.
- Proposal
- equity plan
- Outcome
- passed
- Meeting
- 2024-04-22
Exact text from the filing
Proposal 2 – To authorize the allotment of shares and the grant of rights to subscribe for, or convert any security into, shares of the Company up to an aggregate nominal amount of £128,391 and the allotment of further equity securities up to an aggregate nominal amount of £122,277 in connection with a pre-emptive offer in favor of shareholders. For Against Vote Withheld 45,880,130 4,832,979 120,431
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Renalytix plc shareholders approved Authorization of allotment of ordinary shares up to aggregate nominal amount of £67,039.6025 (Second Tranche Placing Shares) at the 2024-04-22 meeting.
- Proposal
- equity plan
- Outcome
- passed
- Meeting
- 2024-04-22
Exact text from the filing
Proposal 1 – To authorize the al lotment of ordinary shares of £0.0025 each in the capital of the Company up to an aggregate nominal amount of £67,039.6025 (26,815,841 ordinary shares) (the “Second Tranche Placing Shares”). For Against Vote Withheld 50,091,780 621,329 120,431
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Renalytix plc shareholders approved Authorization of disapplication of statutory pre-emption rights for Second Tranche Placing Shares and shareholder approval pursuant to Nasdaq 20% Rule at the 2024-04-22 meeting.
- Outcome
- passed
- Meeting
- 2024-04-22
Exact text from the filing
Proposal 3 – Subject to and conditional upon the passing of Proposal 1, to authorize (i) the disapplication of statutory pre-emption rights for the issue and allotment of the Second Tranche Placing Shares and (ii) shareholder approval pursuant to the Nasdaq 20% Rule. For Against Vote Withheld 50,072,092 641,404 120,044
View on SEC.gov
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