---
schema_version: "secwatch.filing_event.v1"
accession: "0001171843-24-004695"
form_type: "8-K"
ticker: "PMDI"
cik: "0000806517"
company_name: "PSYCHEMEDICS CORP"
filed_at: "2024-08-12T23:59:59+00:00"
generated_at: "2026-05-31T10:14:28.827333+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Psychemedics board approves going-private transaction via reverse stock split, cash-out at $2.35/share

## Summary
- Reverse stock split at ratio between 1:4,000 and 1:6,000; shares below ratio denominator cashed out at $2.35 each.
- Estimated 1.2M shares (21% of outstanding) cashed out, aggregate cost ~$2.8M plus ~$700k expenses.
- Company expects annual savings exceeding $900k after terminating SEC reporting and Nasdaq listing.
- Stock purchase agreement with 3K/Kamin entities for up to $3.75M at $2.35/share to fund cash-out and working capital.
- Transaction subject to stockholder approval at 2024 annual meeting expected in fall 2024; board may abandon.

## SEC filing metadata
- accession: 0001171843-24-004695
- form_type: 8-K
- ticker: PMDI
- cik: 0000806517
- company_name: PSYCHEMEDICS CORP
- filed_at: 2024-08-12T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/806517/000117184324004695/0001171843-24-004695-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/806517/000117184324004695/f8k_081224.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001171843-24-004695
- JSON: https://secwatch.observer/filing/0001171843-24-004695.json
- Plain text: https://secwatch.observer/filing/0001171843-24-004695.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.