8-K
filed February 22, 2023, 6:59 PM ET
CIK 0001652724
other material
confidence high
sentiment negative
materiality 0.95
Lucira Health, Inc.: going-concern / distress — Lucira Health files Chapter 11 bankruptcy, plans sale of business
Lucira Health, Inc.
- Filed Chapter 11 in Delaware on Feb 22, 2023; intends to sell business under Section 363 of Bankruptcy Code.
- Cash on hand ~$4.5M; no debtor-in-possession financing required; funds operations and sale process.
- Four directors resigned (Tuff Yen, Alison McCauley, Sandra Gardiner, Steve Tablak) effective Feb 17; Michael Wyse appointed lead independent director at $25k/month.
- Bankruptcy driven by lower COVID-19 test demand and delayed FDA EUA for COVID-19/Flu combo test.
- Company cautions common stock holders may receive no distribution; trading highly speculative.
Key facts
Extracted from this filing and checked against the source text.
Distress & Bankruptcy
SEC 8-K Item 1.03
confidence 0.9
Lucira Health, Inc. entered chapter 11 in United States Bankruptcy Court for the District of Delaware (petition 2023-02-22).
- Proceeding
- chapter 11
- Court
- United States Bankruptcy Court for the District of Delaware
- Petition
- 2023-02-22
Exact text from the filing
On February 22, 2023, Lucira Health, Inc. (the “Company”) filed a voluntary petition for relief under chapter 11 of title 11 of the United States Bankruptcy Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”).
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Michael Wyse was appointed as Lead Independent Director at Lucira Health, Inc..
- Action
- appointed
- Role
- Lead Independent Director
Exact text from the filing
appointed Michael Wyse to fill the newly created vacancy and serve as lead independent director, effective immediately
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Alison McCauley resigned as Director at Lucira Health, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
Tuff Yen, Alison McCauley, Sandra A. Gardiner, and Steve Tablak, each members of the Board of Directors of the Company (the “Board”), provided notice of their resignation
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Sandra A. Gardiner resigned as Director at Lucira Health, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
Tuff Yen, Alison McCauley, Sandra A. Gardiner, and Steve Tablak, each members of the Board of Directors of the Company (the “Board”), provided notice of their resignation
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Steve Tablak resigned as Director at Lucira Health, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
Tuff Yen, Alison McCauley, Sandra A. Gardiner, and Steve Tablak, each members of the Board of Directors of the Company (the “Board”), provided notice of their resignation
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Tuff Yen resigned as Director at Lucira Health, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
Tuff Yen, Alison McCauley, Sandra A. Gardiner, and Steve Tablak, each members of the Board of Directors of the Company (the “Board”), provided notice of their resignation
View on SEC.gov
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