Every material Form 8-K BioLife Solutions filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
BioLife Solutions' board appointed Tony J. Hunt, Executive Chairman of Repligen Corporation, as a director effective January 2, 2025, and as a member of the Audit Committee. His appointment increases the board to six members and is described as independent under Nasdaq rules.
Tony J. Hunt joins the board effective January 2, 2025 and will serve on the Audit Committee.
Hunt has been Executive Chairman of Repligen since September 2024 and previously served as its CEO from May 2015.
Hunt will receive the same compensation as the company's other non-employee directors, per the 2024 proxy statement filed June 5, 2024.
The company announced the appointment in a press release dated December 16, 2024.
BioLife Solutions agreed to sell all shares of its wholly owned subsidiary Custom Biogenic Systems (CBS) to Standex International for an aggregate price of about $6.1 million, subject to adjustment, and the sale closed on November 14, 2024. The filing says the company also paid $2.0 million in accelerated share compensation to former employees and repaid about $1.5 million of CBS debt, and its pro forma figures show a $840,000 loss on the sale.
Buyer is Standex International Corporation; sale price is about $6.1 million, subject to adjustment, with closing on November 14, 2024
Company incurred $2.0 million in compensation expense from accelerating unvested shares for former employees who stayed with CBS
Company was required to repay about $1.5 million of CBS indebtedness; pro forma loss on sale of CBS is $840,000 as of September 30, 2024
Company will provide transition services to CBS and is bound by two-year non-compete and non-solicitation covenants
BioLife Solutions reported unaudited third-quarter 2024 revenue of $30.6 million, up 30% from a year earlier, and a GAAP net loss from continuing operations of $1.7 million, down from $15.8 million. The company also completed the $73.0 million cash sale of its SciSafe biostorage subsidiary on November 12, 2024, and cut its full-year 2024 total revenue guidance to $98.0 million to $100.0 million from $99.0 million to $101.0 million, citing the divestiture.
Q3 2024 total revenue was $30.6 million, up from $23.6 million in Q3 2023 and up 8% sequentially.
Q3 2024 GAAP net loss from continuing operations was $1.7 million, or $0.04 per share, versus $15.8 million, or $0.36 per share, a year earlier.
Adjusted EBITDA was $6.1 million, or 20% of revenue, compared with $1.4 million, or 6%, in Q3 2023.
Cell Processing 2024 revenue guidance was raised to $72.0 million to $73.0 million, while Biostorage Services guidance was lowered to $26.0 million to $27.0 million.
BioLife Solutions completed the sale of its SciSafe subsidiary to Subzero Purchaser Corp. on November 12, 2024, for an aggregate price of $73.0 million, subject to adjustment. The same day, the company amended and restated its bylaws, including lowering the stockholder meeting quorum to one-third of voting power. The unaudited pro forma figures in the filing show a $39.6 million gain on the sale as of June 30, 2024, and SciSafe will be reported as discontinued operations from 2024 onward.
Sale of SciSafe to Subzero Purchaser Corp. closed November 12, 2024, for $73.0 million, subject to adjustment
BioLife paid former SciSafe stockholders about $3.3 million to waive certain earn-out payments and repaid about $0.9 million of SciSafe debt
Silicon Valley Bank loan amendment dated November 11, 2024 adds a $750,000 non-refundable termination fee
Amended bylaws, adopted November 12, 2024, set stockholder meeting quorum at one-third of voting power and add a Delaware exclusive forum provision
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every BioLife Solutions filing is on SEC EDGAR ↗. 8-K briefs of other companies →