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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): August 18, 2022

 

 

 

INSPIRE MEDICAL SYSTEMS, INC.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   001-38468   26-1377674
(State or other jurisdiction of
incorporation or organization)		   (Commission File Number)   (I.R.S. Employer Identification No.)

 

5500 Wayzata Blvd., Suite 1600

Golden Valley, Minnesota 55416

(Address of principal executive offices) (Zip Code)

 

(844) 672-4357

(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:

 

¨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(s)   Name of each exchange on which registered
Common Stock, $0.001 par value per share   INSP   New York Stock Exchange

 

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 1.02. Termination of a Material Definitive Agreement.

 

On August 18, 2022, Inspire Medical Systems, Inc. (the “Company”) agreed to prepay, and, on August 19, 2022, prepaid in full, all loans under that certain Loan and Security Agreement, dated as of August 7, 2015, as amended, by and between the Company and Oxford Finance LLC (“Loan Agreement”).  As a result of the prepayment, the Loan Agreement was terminated in full (other than certain indemnification and confidentiality obligations) and all security interests granted under the Loan Agreement in certain assets of the Company and its subsidiaries were released.  In connection with the prepayment, the Company paid Oxford Finance LLC prepayment fees of approximately $194,000. There are no material relationships between the Company and Oxford Finance LLC, other than in respect of the Loan Agreement.

 

 

 

 

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 hereunto duly authorized.

 

    INSPIRE MEDICAL SYSTEMS, INC.
     
Date: August 24, 2022 By: /s/ Bryan K. Phillips
      Bryan K. Phillips
      Sr. Vice President, General Counsel

 

 

 

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