UNITED STATES
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: February 18, 2014
(date of earliest event reported)
VASCULAR SOLUTIONS, INC.
(Exact name of registrant as specified in its charter)
Commission File Number: 0-27605
| Minnesota | 41-1859679 | |
| (State or other jurisdiction of incorporation) | (IRS Employer Identification No.) |
6464 Sycamore Court North
Minneapolis, Minnesota 55369
(Address of principal executive offices)
(763) 656-4300
(Registrant’s telephone number, including area code)
Not Applicable
(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:
| o | Written communications pursuant to Rule 425 under 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 1.01. Entry into a Material Definitive Agreement.
On February 18, 2014 (the “Effective Date”) Vascular Solutions, Inc. (“Company”) entered into a purchase agreement with IRET – Plymouth, LLC (“IRET”) to acquire a manufacturing and office building of approximately 79,300 square feet located at 6464 Sycamore Court North, Maple Grove, Minnesota, for a total purchase price of $7,200,000 (the “Purchase Agreement”). Subject to the satisfaction of certain terms and closing conditions customary for a real estate transaction of this type, the closing is expected to take place on December 1, 2014 (the “Closing”). Under the terms of the Purchase Agreement, within two business days after the Effective Date, the Company will deposit $400,000 into escrow to be held as earnest money until the closing of the transaction.
The Company currently leases the building and intends to continue to do so until the Closing. The building houses the Company’s principal manufacturing, research and development and regulatory operations. The Company intends to expand the manufacturing capacity of the building and move its research and development and regulatory operations to an adjoining office building at 6401 Sycamore Court North, Maple Grove, Minnesota.
The foregoing description of the Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the full agreement attached hereto as Exhibit 10.1.
SIGNATURE
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 hereunto duly authorized.
| VASCULAR SOLUTIONS, INC. | |||
| Date: February 20, 2014 | By: | /s/ James Hennen | |
| James Hennen | |||
| Its: | Chief Financial Officer | ||
EXHIBIT INDEX
Exhibit Number | Description | |
| Agreement for Sale and Purchase of Property by and between IRET – Plymouth, LLC and Vascular Solutions, Inc., made and entered into as of February 18, 2014. |