Current Report Filing (8-k)
October 20 2021 - 5:26PM
Edgar (US Regulatory)
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2021-10-19
2021-10-19
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 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):
October
19, 2021
SUPERIOR
DRILLING PRODUCTS, INC.
(Exact
name of registrant as specified in its charter)
Utah
|
|
46-4341605
|
(State
of Incorporation)
|
|
(I.R.S.
Employer Identification No.)
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|
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1583
South 1700 East
Vernal,
Utah
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84078
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(Address
of principal executive offices)
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(Zip
code)
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Commission
File Number: 001-36453
Registrant’s
telephone number, including area code: (435) 789-0594
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)
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☐
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities
Registered Pursuant to Section 12(b) of the Exchange Act:
Title
of each class:
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Trading
Symbol(s)
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Name
of each exchange on which registered:
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Common
Stock, $0.001 par value
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SDPI
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NYSE
American
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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
8.01 Other Events
On
October 19, 2021, Superior Drilling Products, Inc. (the “Company”) issued a press release announcing the closing of the transactions
contemplated by the securities purchase agreement (the “Purchase Agreement”) between the Company and certain institutional
investors dated October 14, 2021, which provides for the sale and issuance by the Company to certain institutional investors of an aggregate
of 1,739,131 shares of the Company’s common stock at an offering price of $1.15 per share in a registered direct offering
(the “Registered Offering”) priced at-the-market under NYSE American rules for gross proceeds of approximately $2,000,000
before deducting EF Hutton, division of Benchmark Investments, LLC (the “Placement Agent”) fees and related offering expenses.
Item
9.01. Financial Statements and Exhibits.
(d)
Exhibits.
The
following exhibits are included with this Current Report on Form 8-K:
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.
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Superior
Drilling Products, Inc.
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(Registrant)
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October
20, 2021
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/s/
Christopher D. Cashion
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(Date)
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Christopher
D. Cashion
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Chief
Financial Officer
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