secwatch.observer — SEC 8-K summary
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Issuer:     TENAX THERAPEUTICS, INC. (TENX)
CIK:        0000034956
Form:       8-K
Filed at:   2021-07-08T23:59:59+00:00
Accession:  0001654954-21-007745
Event type: leadership
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 3.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Tenax CEO retires; $10M PIPE priced at $2.095/unit with warrants for 9.5M shares
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- CEO Anthony DiTonno retires July 13, 2021; receives one-year salary severance, pro-rated bonus, and COBRA.
- Christopher Giordano appointed CEO and director effective July 14, 2021; base salary $375,000, bonus target 50% of base.
- PIPE: 4,773,269 units at $2.095 each; gross proceeds ~$10M; each unit includes a pre-funded warrant ($0.0001) and a 5.5-year warrant ($1.97).
- Giordano receives inducement options for 350,000 shares: 250,000 vest over 4 years, 100,000 vest on clinical milestones.
- Placement agent H.C. Wainwright gets ~$750,000 cash fee and warrants for 357,995 shares at $2.46.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/34956/000165495421007745/0001654954-21-007745-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/34956/000165495421007745/tenx_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-21-007745

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