0001799191 false 0001799191 2023-06-14 2023-06-14 0001799191 us-gaap:CommonStockMember 2023-06-14 2023-06-14 0001799191 toi:RedeemablewarrantsMember 2023-06-14 2023-06-14 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

 

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): June 14, 2023

 

 

 

The Oncology Institute, Inc.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware

(State or other jurisdiction of
incorporation or organization)

001-39248

(Commission File Number)

84-3562323

(I.R.S. Employer Identification Number)

 

18000 Studebaker Rd, Suite 800

Cerritos, California 90703

(Address of principal executive offices and zip code)

 

(562) 735-3226

(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 14d-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

Name of each exchange
on which registered

     
Common stock, par value $0.0001 TOI The Nasdaq Stock Market LLC
     
Redeemable warrants, each whole warrant exercisable for one share of Common stock, each at an exercise price of $11.50 per share TOIIW The Nasdaq Stock Market LLC

 

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 x

 

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 June 14, 2023, the Board of Directors of The Oncology Institute, Inc. (the “Company”) approved a share repurchase program with authorization to purchase up to 5 million shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”). The Company may repurchase shares from time to time through one or more securities broker-dealers, in open market purchases and negotiated purchases, in each case at price per share not to exceed $0.75. Shares repurchased by the Company pursuant to the share repurchase program shall be returned to the status of authorized but unissued shares of Common Stock.

 

In connection with the foregoing, on June 14, 2023, the Company entered into a limited consent (the “Limited Consent”), dated as of June 14, 2023, to that certain Facility Agreement, dated as of August 9, 2022 (the “Facility Agreement”), by and among the Company, as borrower, certain of the Company’s subsidiaries from time to time party thereto as guarantors and Deerfield Partners, L.P., as agent for itself and the lenders (collectively, “Deerfield”). The Limited Consent permits the repurchase by the Company on or prior to June 16, 2023, of up to 5,000,000 shares of the Company’s Common Stock in one or more open market or negotiated purchases, in each case at price per share not to exceed $0.75. The actual timing and amount of repurchases are subject to business and market conditions, corporate and regulatory requirements, stock price, acquisition opportunities and other factors. The Limited Consent does not obligate the Company to repurchase any amount of shares, and there can be no assurance that any shares will be repurchased. The Limited Consent also grants a one-time waiver under the Facility Agreement of certain delivery of any notice requirements.

 

The foregoing description of the Limited Consent does not purport to be complete and is qualified in its entirety by reference to the full text of the Limited Consent, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) The following exhibits are being filed herewith:

 

Exhibit No.   Description
10.1   Limited Consent, dated as of June 14, 2023, by and among the Company and Deerfield
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

 

SIGNATURES

 

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

 

  The Oncology Institute, Inc.
     
Date: June 15, 2023 By: /s/ Mark Hueppelsheuser
  Name: Mark Hueppelsheuser
  Title: General Counsel

 

 

DFP Healthcare Acquisiti... (NASDAQ:DFPH)
Historical Stock Chart
From Oct 2024 to Nov 2024 Click Here for more DFP Healthcare Acquisiti... Charts.
DFP Healthcare Acquisiti... (NASDAQ:DFPH)
Historical Stock Chart
From Nov 2023 to Nov 2024 Click Here for more DFP Healthcare Acquisiti... Charts.