# EDGAR Filing Document

**Accession Number:** 0000811212
**File Stem:** 0001437749-23-002574
**Filing Date:** 2023-2
**Character Count:** 14828
**Document Hash:** 28267d3377f5bf78f9c929fa6bad3b83
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001437749-23-002574.hdr.sgml**: 20230206

**ACCESSION NUMBER**: 0001437749-23-002574

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20230131

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230206

**DATE AS OF CHANGE**: 20230206

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ThermoGenesis Holdings, Inc.
- **CENTRAL INDEX KEY:** 0000811212
- **STANDARD INDUSTRIAL CLASSIFICATION:** LABORATORY APPARATUS & FURNITURE [3821]
- **IRS NUMBER:** 943018487
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-82900
- **FILM NUMBER:** 23590298

**BUSINESS ADDRESS:**
- **STREET 1:** 2711 CITRUS ROAD
- **CITY:** RANCHO CORDOVA
- **STATE:** CA
- **ZIP:** 95742
- **BUSINESS PHONE:** 9168585100

**MAIL ADDRESS:**
- **STREET 1:** 2711 CITRUS ROAD
- **CITY:** RANCHO CORDOVA
- **STATE:** CA
- **ZIP:** 95742

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CESCA THERAPEUTICS INC.
- **DATE OF NAME CHANGE:** 20140221

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** THERMOGENESIS CORP
- **DATE OF NAME CHANGE:** 19951117

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** INSTA COOL INC OF NORTH AMERICA
- **DATE OF NAME CHANGE:** 19920703

thmo20230206_8k.htm

**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): **January 31, 2023**

**THERMOGENESIS HOLDINGS, INC.**

(Exact Name of Registrant as Specified in its Charter)

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| | | |
|:---|:---|:---|
| Delaware | 333-82900 | 94-3018487 |
| (State or Other Jurisdiction | (Commission | (IRS Employer |
| of Incorporation) | File Number) | Identification No.) |

---

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| | |
|:---|:---|
| 2711 Citrus Road, Rancho Cordova, California | 95742 |
| (Address of Principal Executive Offices) | (Zip Code) |

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Registrant's telephone number, including area code: (916) 858-5100

N/A

(Former Name or Former Address, if Changed Since Last Report)

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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:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock, $0.001 par value | THMO | The Nasdaq Stock Market LLC<br> (The Nasdaq Capital Market) |

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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 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

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. ☐

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**Item 1.01. Entry into a Material Definitive Agreement.**

On January 31, 2023, ThermoGenesis Holdings, Inc. (the "Company") entered into an Amendment No. 3 to Convertible Promissory Note with Orbrex (USA) Co. Limited (the "Note Amendment"). The Note Amendment amends the Convertible Promissory Note, dated July 23, 2019, as amended by Amendment No. 1 dated effective July 23, 2019, and Amendment No. 2 dated July 25, 2022, between the Company and Orbrex (USA) Co. Limited (as amended, the "Note"). The Note Amendment extends the maturity date of the Note to July 31, 2023. The Note Amendment also changed the fixed conversion price to $2.87 per share, provided that in the event that the Company issues shares, options, warrants, or convertible securities, subject to certain exceptions, at an effective price per common share lower than $2.87, then the conversion price will be adjusted to such lower issuance price.

Except for the foregoing, no material changes were made to the Note.

The description of the Note Amendment set forth above is necessarily incomplete and is qualified by reference to the full text of the document, which is attached to this Form 8-K as Exhibit 10.1, and which is incorporated herein by reference.

**Item 9.01. Financial Statements and Exhibits.**

(d) Exhibits

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| | |
|:---|:---|
| **Exhibit** <br> **No.** | **Description** |
| 10.1 | [Amendment No. 3 to Convertible Promissory Note, dated January 31, 2023, between ThermoGenesis Holdings, Inc. and Orbrex (USA) Co. Limited.](ex_471903.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

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**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.

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| | |
|:---|:---|
|  | **THERMOGENESIS HOLDINGS, INC.** |
| Dated: February 6, 2023 | /s/ Jeffery Cauble |
|  | Jeffery Cauble<br> Chief Financial Officer<br> (Principal Financial Officer and Principal Accounting Officer) |

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## Exhibit 10.1

**Exhibit 10.1**

**AMENDMENT NO. 3 TO CONVERTIBLE PROMISSORY NOTE**

This Amendment No. 3 Convertible Promissory Note (this "**Amendment No. 3**") by and between ThermoGenesis Holdings, Inc., a Delaware corporation formerly known as Cesca Therapeutics Inc. (the "**Company**"), and Orbrex (USA) Co. Limited ("**Orbrex**"), is entered into effective as of January 31, 2023. Capitalized terms not otherwise defined herein shall have the meanings assigned to such terms in the Convertible Promissory Note (as defined below).

**WHEREAS**, on July 23, 2019, the Company issued to Orbrex a Convertible Promissory Note in the original principal amount of $1,000,000 (the "**Original Note**");

**WHEREAS**, on August 12, 2019, but effective July 23, 2019, the Company and Orbrex entered into the Amendment No. 1 to Convertible Promissory Note (the "**Amendment No. 1)**";

**WHEREAS**, on July 25, 2022, the Company and Orbrex entered into the Amendment No. 2 to Convertible Promissory Note (the "**Amendment No. 2**", and together with the Original Note and Amendment No. 1, the "**Convertible Promissory Note**"**)**;

**WHEREAS**, the terms of the Convertible Promissory Note provide for a maturity date of January 31, 2023; and

**WHEREAS**, the Company and Orbrex have agreed that the maturity date of the Convertible Promissory Note should be extended and that, in consideration of such extension, the conversion provisions of the Convertible Promissory Note should be modified, all in accordance with this Amendment No. 3.

**NOW, THEREFORE**, intending to be legally bound, and in consideration of the mutual agreements contained herein, the parties hereto agree as follows:

1. **<u>Amendment of Maturity Date</u>**. The "**Maturity Date**" set forth in Section (1) of the Convertible Promissory Note is hereby amended to be "July 31, 2023."

2. **<u>Amendment of Section (3)(b)(ii)</u>**. Section (3)(b)(ii) of the Convertible Promissory Note is hereby deleted in its entirety and replaced with the following:

**"Conversion Price**" means, as of any Conversion Date (as defined below) or other date of determination, an amount equal to $2.87 per share, subject to adjustment as set forth herein.

3. **<u>Amendment of Section (3)(e)</u>**. Section (3)(e) of the Convertible Promissory Note is hereby amended and restated to read as follows:

(e) <u>ADJUSTMENTS TO CONVERSION PRICE</u>.

(i) <u>Stock Split; Reverse Stock Split</u>. If the Company shall, at any time or from time to time after January 31, 2023 (the "**Amendment No. 3 Date** "), (i) pay a dividend or make any other distribution upon the Common Stock or any other capital stock of the Company payable in shares of Common Stock or in Options or Convertible Securities, or (ii) subdivide (by any stock split, recapitalization or otherwise) its outstanding shares of Common Stock into a greater number of shares of Common Stock, the Conversion Price in effect immediately prior to any such dividend, distribution or subdivision shall be proportionately reduced. If the Company at any time or from time to time after the Amendment No. 3 Date combines (by combination, reverse capital stock split or otherwise) its outstanding shares of Common Stock into a smaller number of shares of Common Stock, the Conversion Price in effect immediately prior to such combination shall be proportionately increased. Any adjustment under this paragraph shall become effective at the close of business on the date the dividend, subdivision or combination becomes effective.

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(ii) <u>Dilutive Issuances</u>. If and whenever on or after the Amendment No. 3 Date the Company issues or sells, or in accordance with this Section 3(e), is deemed to have issued or sold, any shares of Common Stock (excluding shares of Common Stock deemed to have been issued or sold by the Company in connection with any Excluded Security) for a consideration per share less than the Conversion Price in effect immediately prior to such issue or sale (the foregoing a "**Dilutive Issuance** "), then immediately after such Dilutive Issuance, the Conversion Price then in effect shall be reduced effective concurrently with such Dilutive Issuance to an amount equal to the consideration per share received by the Company in the Dilutive Issuance. For purposes of determining the adjusted Conversion Price under this Section 3(e)(ii), the following shall be applicable:

a. If the Company shall, at any time or from time to time after the Amendment No. 3 Date, in any manner grant or sell (whether directly or by assumption in a merger or otherwise) any Options or Convertible Securities, whether or not such Options or the right to convert or exchange any such Convertible Securities are immediately exercisable, and the price per share for which Common Stock is issuable upon the exercise of such Options or upon the conversion or exchange of such Convertible Securities is less than the Conversion Price in effect immediately prior to the time of the granting or sale of such Options or Convertible Securities, then the total maximum number of shares of Common Stock issuable upon the exercise of such Options or upon conversion or exchange of the total maximum amount of Convertible Securities shall be deemed to have been issued as of the date of granting or sale of such Options or Convertible Securities (and thereafter shall be deemed to be outstanding for purposes of adjusting the Conversion Price under this Section), at a price per share equal to the quotient obtained by dividing (A) the sum (which sum shall constitute the applicable consideration received for purposes of this Section 3(e)(ii)) of (x) the total amount, if any, received or receivable by the Company as consideration for the granting or sale of all such Options or Convertible Securities, plus (y) the minimum aggregate amount of additional consideration payable to the Company upon the exercise of all such Options or upon the conversion or exchange of all such Convertible Securities, by (B) the total maximum number of shares of Common Stock issuable upon the exercise of all such Options or upon the conversion or exchange of all such Convertible Securities. Except as otherwise provided in Section 3(e)(ii)(b) below, no further adjustment of the Conversion Price shall be made upon the actual issuance of Common Stock upon exercise of such Options or conversion or exchange of such Convertible Securities.

b. If the purchase price provided for in any Options, the additional consideration, if any, payable upon the issue, conversion, exchange or exercise of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exchangeable or exercisable for shares of Common Stock changes at any time, the Conversion Price in effect at the time of such change shall be adjusted to the Conversion Price which would have been in effect at such time had such Options or Convertible Securities provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold.

c. In case any Option is issued in connection with the issue or sale of other securities of the Company, together comprising one integrated transaction in which no specific consideration is allocated to such Options by the parties thereto, the Options will be deemed to have been issued for a consideration of $0.001. If any shares of Common Stock, Options or Convertible Securities are issued or sold or deemed to have been issued or sold for cash, the consideration received therefor will be deemed to be the net amount received by the Company therefor. If any shares of Common Stock, Options or Convertible Securities are issued or sold for a consideration other than cash, the amount of the consideration other than cash received by the Company will be the fair value of such consideration.

4. **<u>Ratification and Confirmation</u>**. Except as expressly provided in this Amendment No. 3, all of the terms, conditions and provisions of the Convertible Promissory Note remain unaltered, are in full force and effect, and are hereby expressly ratified and confirmed.

5. **<u>Miscellaneous</u>**. This Amendment No. 3 may be executed in one or more counterparts, and by the different parties hereto in separate counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. The parties hereto further agree that facsimile signatures or signatures scanned into .pdf (or similar) format and sent by e-mail shall be deemed original signatures.

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*[signatures follow]*

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**IN WITNESS WHEREOF,** the parties have executed this Amendment No. 3 as of the day and year first written above.

**THERMOGENESIS HOLDINGS, INC.**

<u>/s/ Xiaochun Xu</u><u> </u><u> </u><u> </u><u> </u><br> Xiaochun (Chris) Xu, Chief Executive Officer

**ORBREX (USA) CO. LIMITED**

<u>/s/ Yuan Lan Fang</u><u> </u><u> </u><u> </u><u> </u><br> Lan Fang Yuan, President