secwatch.observer — SEC 8-K summary
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Issuer:     DELCATH SYSTEMS, INC. (DCTH)
CIK:        0000872912
Form:       8-K
Filed at:   2023-03-30T23:59:59+00:00
Accession:  0001193125-23-084121
Event type: other_material
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 3.02, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Delcath Systems raises up to $85M in private placement led by Vivo Capital
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- $25M upfront from Series F Convertible Preferred Stock and warrants; up to $60M additional tied to FDA approval and revenue milestones.
- Financing led by Vivo Capital with participation from Logos Capital, BVF Partners, Stonepine, Serrado, and Rosalind Advisors.
- Proceeds to fund operations through PDUFA date of August 14, 2023 and commercialization of HEPZATO if approved.
- Conversion of preferred stock into common stock requires stockholder approval; warrants exercisable at $3.30, $4.50, $6.00 per share.
- CEO Gerard Michel also purchased $100k of common stock and warrants in a separate agreement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/872912/000119312523084121/0001193125-23-084121-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/872912/000119312523084121/d377148d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-084121

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