secwatch.observer — SEC 8-K summary
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Issuer:     UFP TECHNOLOGIES INC (UFPT)
CIK:        0000914156
Form:       8-K
Filed at:   2024-03-18T23:59:59+00:00
Accession:  0001171843-24-001413
Event type: other_material
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

UFP Technologies enters amended supply deal with Intuitive Surgical; estimates $500M revenue over initial term
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- Amended manufacturing supply agreement with Intuitive Surgical SARL, effective Jan 1, 2024, for a four-year initial term.
- Intuitive agrees to purchase majority of certain products on a semi-exclusive basis with volume-based pricing.
- UFP estimates approximately $500 million in revenue over the initial term if volume thresholds are met.
- Agreement automatically renews for one-year terms; either party may terminate for breach or non-renewal.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/914156/000117184324001413/0001171843-24-001413-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/914156/000117184324001413/f8k_031824.htm
  HTML page:      https://secwatch.observer/filing/0001171843-24-001413

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer