---
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"
generated_at: "2026-06-03T21:19:48.756086+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# BioLife Solutions divests Stirling freezer business for $1; cuts 11% of workforce

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: other_material
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.05, 8.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-016671
- JSON: https://secwatch.observer/filing/0001628280-24-016671.json
- Plain text: https://secwatch.observer/filing/0001628280-24-016671.txt

## Key facts
- Restructurings & Charges
  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)).
  - Type: restructuring
  - Charge: approximately $2.5 million of charges
  - Affected area: Global Cooling, Inc.
  - Headcount: approximately 47 employees (representing approximately 11% of its full-time employees)
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/834365/000162828024016671/0001628280-24-016671-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.