Unassociated Document
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): February 15,
2008
ARBIOS
SYSTEMS, INC.
(Exact
Name of Registrant as Specified in its Charter)
Delaware
(State
or Other Jurisdiction of Incorporation)
000-32603
(Commission
File Number)
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91-1955323
(I.R.S.
Employer Identification No.)
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1050
Winter Street, Suite 1000, Waltham, MA
(Address
of Principal Executive Offices)
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02451
(Zip
Code)
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(781)
839-7292
(Registrant’s
Telephone Number, Including Area Code)
______________________________
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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¨
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
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¨
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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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¨
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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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ITEM
1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On
February 15, 2008, the Company amended outstanding warrants to purchase an
aggregate of 900,000 shares of common stock of the Company, which have an
exercise price of $1.00 per share (the “Warrants”). The Warrants were originally
issued in 2003 in connection with certain financing transactions and were
scheduled to expire on February 15, 2008. The amendment extends the expiration
date of the Warrants until February 15, 2010.
In
addition, the Warrants contain a call provision whereby the Company can require
the holders of the Warrants to exercise them if the Company’s common stock
trades at a level of at least $3.25 per share for 20 consecutive trading days
(the “Call Provision”). In addition to amending the expiration date of the
Warrants as described in the preceding paragraph, the Company amended the Call
Provision by lowering the trading price at which the Call Provision may be
triggered from $3.25 per share to $2.25 per share.
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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ARBIOS
SYSTEMS, INC.
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Date:
February 22, 2008
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By:
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/s/ Shawn
P. Cain
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Shawn
P. Cain, Interim President and Chief Executive
Officer
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