Current Report Filing (8-k)
April 15 2019 - 9:01AM
Edgar (US Regulatory)
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): April 12, 2019
Aceto Corporation
(Exact Name of Registrant as Specified in
its Charter)
New York
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001-38733
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11-1720520
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(State or Other Jurisdiction
of Incorporation)
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(Commission File Number)
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(IRS Employer
Identification No.)
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4 Tri Harbor Court, Port Washington, NY
11050
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including
area code:
(516) 627-6000
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):
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Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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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 (§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
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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 8.01.
Other Events
On April 12, 2019, Aceto Corporation, a New York corporation
(the “Company”), announced that it has received approval from the U.S. Bankruptcy Court to sell the assets of Rising
Pharmaceuticals, Inc., a wholly owned subsidiary of the Company (“Rising”), and Rising’s subsidiaries to Shore
Suven Pharma, Inc. (“Shore Suven Pharma”) for gross cash proceeds of $15 million, plus the assumption of operating
liabilities and customer obligations related to the acquired business, on a cash-free and debt-free basis.
The sale was conducted through a Court-supervised process under
Section 363 of the U.S. Bankruptcy Code. Under that process, Shore Suven Pharma’s purchase agreement served as the “stalking
horse agreement” and an auction would have been conducted had the Company received qualified offers from other bidders reflecting
potentially higher and/or otherwise better terms. No such bids were received prior to the bid deadline. Therefore, no auction was
conducted and Shore Suven Pharma was selected as the successful bidder of the Company’s Pharma Business on March 29, 2019.
The transaction is expected to close on April 19, 2019, subject to the satisfaction of certain other conditions.
Additional details are contained in the Company’s press
release issued on April 12, 2019, a copy of which is attached hereto as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits.
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.
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ACETO CORPORATION
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Date: April 15, 2019
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By:
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/s/ William C. Kennally, III
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William C. Kennally, III
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President and CEO
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