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 (Date of earliest event reported): May 13, 2021
__________________________________________
Dynatronics Corporation
(Exact name of registrant as specified in its charter)
__________________________________________
Utah | 0-12697 | 87-0398434 | ||
(State or other jurisdiction of incorporation) | Commission File Number | (IRS Employer Identification Number) |
1200 Trapp Rd, Eagan, Minnesota | 55121 | |
(Address of principal executive offices) | (Zip Code) | |
(801) 568-7000 | ||
(Registrant's telephone number, including area code) |
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:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14(d)-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
Common stock, no par value | DYNT | The Nasdaq Capital Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01
Enter into a Material Definitive Agreement
On May 13, 2021, Dynatronics Corporation (“Dynatronics”) and Maple Leaf Realco VII, LLC closed on the Purchase and Sale Agreement (the “Agreement”) for the sale of Dynatronics’ former manufacturing facility building located at 6607 Mountainview Road, Ooltewah, Tennessee for a purchase price of $1.75 million USD. Net proceeds are estimated to be $1.65 million.
Item 8.01
Other Events.
On May 17, 2021, Dynatronics issued a press release announcing the Agreement. A copy of this press release is filed as Exhibit 99.1 to this Report on Form 8-K and is incorporated into this Item 8.01 by reference.
Item 9.01
Financial Statements and Exhibits
Exhibit Number | Description | |
Press Release dated May 17, 2021 |
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.
Date: May 17, 2021 | DYNATRONICS CORPORATION | ||
By: | /s/John Krier | ||
Name: John Krier | |||
Title: | Chief Executive Officer |