NEPHROS INC (NEPH): M&A transaction — Nephros closes sale of Pathogen Detection Systems business to BWSI, LLC

NEPHROS INC

Closing occurred Nov 15, 2022; BWSI made nominal cash payment and assumed certain liabilities.
Annual royalty of a specified % of gross margin from PDS products for 7 years starting 2023.
Pro forma for 9M 2022: net loss attributable to Nephros improved from $6.464M to $3.764M.
Pro forma for FY 2021: net loss attributable to Nephros improved from $4.107M to $3.024M.
PDS Business classified as discontinued operations; assets/liabilities removed from balance sheet.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 1.0

NEPHROS INC completed a disposition involving BWSI, LLC for BWSI made a nominal cash payment and assumed certain liabilities of the PDS Business from and after the date of Closing. Additionally, the Purchase Agreement pr (closed 2022-11-15).

Action: disposition
Counterparty: BWSI, LLC
Consideration: BWSI made a nominal cash payment and assumed certain liabilities of the PDS Business from and after the date of Closing. Additionally, the Purchase Agreement pr
Closing: 2022-11-15

Exact text from the filing

As previously disclosed, on October 4, 2022, Nephros, Inc. (the “Company”) entered into an Agreement for Purchase and Sale of Assets (the “Purchase Agreement”) with BWSI, LLC (“BWSI”), pursuant to which the Company agreed to sell, and BWSI agreed to purchase, substantially all of the assets relating to the Company’s Pathogen Detection Systems line of business (the “PDS Business”). The parties consummated the transactions contemplated by the Purchase Agreement at a closing conducted on November 15, 2022.

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NEPHROS INC filing history →

Source: SEC EDGAR

accession 0001493152-22-033098

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