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) June
17, 2009
PATIENT
SAFETY TECHNOLOGIES, INC.
(Exact
Name of Registrant as Specified in Its Charter)
(State or
Other Jurisdiction of Incorporation)
|
001-09727
|
|
13-3419202
|
|
(Commission
File Number)
|
|
(IRS
Employer Identification No.)
|
|
43460
Ridge Park Drive, Suite 140
|
|
|
|
Temecula,
California
|
|
92590
|
|
(Address
of Principal Executive Offices)
|
|
(Zip
Code)
|
(Registrant’s
Telephone Number, Including Area Code)
(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 (see General Instruction A.2.
below):
o Written
communications pursuant to Rule 425 under the 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
8.01 Other
Events.
Patient
Safety Technologies, Inc. (the “Company”) today announced that it is initiating
a private placement of its common stock to accredited investors who are holders
of its common stock warrants. Shares will be offered in exchange for
the surrender of such common stock warrants. Such holders may elect
to make a cash investment, in addition to surrendering their warrants for
exchange.. The shares will be offered at a price equivalent to the
current market value of the Company’s common stock. Warrants tendered
for conversion will be valued at a price based on the estimated value of these
warrants. The Company has reserved 7 million shares of its common stock for
issuance in the private placement. The private placement is expected
to be completed in July 2009, subject to customary closing
conditions.
The
shares being offered in this private placement have not been registered under
the federal Securities Act of 1933 or any state securities laws and may not be
offered or sold in the United States absent registration or an applicable
exemption from registration requirements.
SIGNATURE
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.
|
|
PATIENT
SAFETY TECHNOLOGIES, INC.
|
|
|
(Registrant)
|
|
|
|
|
|
|
|
|
Name:
Mary Lay
|
|
Date:
June 19, 2009
|
Title:
Interim Chief Financial Officer
|