secwatch.observer — SEC 8-K summary
======================================

Issuer:     Cue Health Inc. (—)
CIK:        0001628945
Form:       8-K
Filed at:   2024-05-28T23:59:59+00:00
Accession:  0001193125-24-148163
Event type: other_material
Sentiment:  negative
Materiality: 1.00
Item codes: 1.02, 1.03, 3.01, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cue Health files for Chapter 7 bankruptcy, terminates all employees and directors
--------------------------------------------------------------------------------

- Filed voluntary Chapter 7 bankruptcy petition on May 28; company will be liquidated by court-appointed trustee.
- Terminated all employees, CEO Clint Sever, CBO Chris Achar, and CAO Randall Pollard on May 24; all directors resigned.
- Received Nasdaq delisting notice for late Q1 filing; company does not intend to submit compliance plan.
- Q1 2024 total revenue $10.1M, down 59% YoY; net loss $49.5M ($0.31 per share).
- Cash and equivalents $40.2M as of March 31, 2024, down from $80.9M at year-end 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1628945/000119312524148163/0001193125-24-148163-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1628945/000119312524148163/d837440d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-148163

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