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Power Medical Interventions, Inc. 8-K 2009

Documents found in this filing:

  1. 8-K
  2. Ex-99.1
  3. Graphic
  4. Graphic

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 


 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): May 29, 2009

 

POWER MEDICAL INTERVENTIONS, INC.

(Exact Name of Registrant as Specified in Charter)

 

Delaware

 

001-33770

 

23-3011410

(State or other jurisdiction
of incorporation)

 

(Commission
File Number)

 

(IRS Employer
Identification Number)

 

2021 Cabot Boulevard, Langhorne, Pennsylvania 19047

(Address of principal executive offices) (Zip Code)

 

(267) 775-8100

(Registrant’s telephone number, including area code)

 

N/A

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below).

 

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 



 

ITEM 8.01             Other Events

 

Power Medical Interventions, Inc. (the “Company”) announced on June 2, 2009 that Intuitive Surgical, Inc. (“Intuitive Surgical”) has elected to exercise its right to receive an irrevocable license to certain Company intellectual property in exchange for an accelerated aggregate undiscounted milestone payment of $5 million.  The payment to the Company was made in connection with the License and Development Agreement between the Company and Intuitive Surgical dated as of September 9, 2008 (the “License and Development Agreement”).  As provided under the terms of the License and Development Agreement, Intuitive Surgical has the right to receive an irrevocable license by accelerating payment of remaining milestones. With this latest payment, the Company has received a total of $20 million from Intuitive Surgical under the License and Development Agreement.

 

A copy of the Company’s June 2, 2009 press release concerning the accelerated milestone payment by Intuitive Surgical is attached hereto as Exhibit 99.1 and incorporated herein by reference.

 

ITEM 9.01                                       Financial Statements and Exhibits

 

(d) Exhibits

 

Exhibit

 

 

 

Filed with this

 

Incorporated by Reference

No.

 

Description

 

Form 8-K

 

Form

 

Filing Date

 

Exhibit No.

99.1

 

Press release issued by Power Medical Interventions, Inc., dated June 2, 2009.

 

x

 

 

 

 

 

 

 

2



 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

POWER MEDICAL INTERVENTIONS, INC.

 

 

 

 

 

 

By:

/s/ Brian M. Posner

 

 

Brian M. Posner

 

 

Chief Financial Officer

 

 

 

 

 

 

Date: June 3, 2009

 

 

 


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