Item 8.01. Other Events.
On March 22, 2021, Cardiovascular Systems, Inc. (the "Company") issued a press
release announcing it has acquired a line of peripheral support catheters from
WavePoint Medical, LLC ("WavePoint") and engaged WavePoint to develop a
portfolio of specialty catheters. A copy of the Company's press release is
attached hereto as Exhibit 99.1.
As consideration for the acquisition of the peripheral catheters, the Company
made an upfront payment of $3.4 million to WavePoint, which it will recognize as
a one-time expense in its third quarter ending March 31, 2021. This amount was
not included in the guidance range for the third quarter provided by the Company
on February 3, 2021. Upon 510(k) clearance of the peripheral catheters, the
Company will make an additional $1.7 million payment to WavePoint, which the
Company anticipates will be made during the first half of its fiscal year ending
June 30, 2022 and will be recognized as an intangible asset when made.
Certain statements in this Form 8-K are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 and are provided
under the protection of the safe harbor for forward-looking statements provided
by that Act. For example, statements in this Form 8-K regarding the recognition
of a one-time expense for the upfront payment for the catheters, the additional
payment to be made to WavePoint, the anticipated timing thereof, and the
accounting treatment thereof, are forward-looking statements. These statements
involve risks and uncertainties that could cause results to differ materially
from those projected, including, but not limited to, technical challenges;
regulatory developments and approvals; and other factors detailed from time to
time in the Company's SEC reports, including its most recent annual report on
Form 10-K and subsequent quarterly reports on Form 10-Q. The Company encourages
you to consider all of these risks, uncertainties and other factors carefully in
evaluating the forward-looking statements contained in this Form 8-K. As a
result of these matters, changes in facts, assumptions not being realized or
other circumstances, the Company's actual results may differ materially from the
expected results discussed in the forward-looking statements contained in this
Form 8-K. The forward-looking statements made in this Form 8-K are made only as
of the date of this Form 8-K, and the Company undertakes no obligation to update
them to reflect subsequent events or circumstances.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit
Number Description
99.1 Press Release dated March 22, 2021--------------------------------------------------------------------------------
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CARDIOVASCULAR SYSTEMS, INC. 
