{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-24-016671","form_type":"8-K","ticker":"BLFS","cik":"0000834365","company_name":"BIOLIFE SOLUTIONS INC","filed_at":"2024-04-18T23:59:59+00:00","discovered_at":"2026-05-14T18:03:22.110288+00:00","generated_at":"2026-06-03T21:19:48.756086+00:00","sec_items":["2.05","8.01","9.01"],"event_type":"other_material","sentiment":"positive","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"BioLife Solutions divests Stirling freezer business for $1; cuts 11% of workforce","bullets":["Sold Global Cooling (Stirling) for $1.00; expects to eliminate several million dollars of quarterly cash burn.","Workforce reduction of 47 employees (~11% of full-time); estimated $2.5M charges in Q2 2024.","Removes $7.5M warranty liabilities; $7M cash left in GCI and $2.6M debt repayment.","Expects higher revenue growth, adjusted EBITDA, and gross margin expansion after sale."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-24-016671","json":"https://secwatch.observer/filing/0001628280-24-016671.json","markdown":"https://secwatch.observer/filing/0001628280-24-016671.md","text":"https://secwatch.observer/filing/0001628280-24-016671.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/834365/000162828024016671/0001628280-24-016671-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/834365/000162828024016671/blfs-20240417.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-03T21:19:48.756086+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"0c858f4cefba09e1d5faa2c4bb119a491ea03daa","claim":"BIOLIFE SOLUTIONS INC announced a restructuring with charges of approximately $2.5 million of charges affecting Global Cooling, Inc. (approximately 47 employees (representing approximately 11% of its full-time employees)).","evidence_excerpt":"on March 29, 2024, and all affected employees were informed on April 17, 2024, following the execution of the Purchase Agreement. The Company expects to recognize approximately $2.5 million of charges in connection with the RIF, comprised of approximately $2.0 million of stock compensation expense and approximately $0.5 million in cash expenditures, substantially","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/834365/000162828024016671/0001628280-24-016671-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"approximately $2.5 million of charges"},{"label":"Affected area","value":"Global Cooling, Inc."},{"label":"Headcount","value":"approximately 47 employees (representing approximately 11% of its full-time employees)"}],"fact_type":"restructuring_charge"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}