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EX-99.1 - EXHIBIT 99.1 - Chelsea Therapeutics International, Ltd.v315561_ex99-1.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): June 7, 2012

 

  CHELSEA THERAPEUTICS INTERNATIONAL, LTD.  
  (Exact name of registrant as specified in its charter)  

 

Delaware 000-51462 20-3174202
(State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer ID Number)

 

3530 Toringdon Way, Suite 200, Charlotte, North Carolina 28277
(Address of principal executive offices)  (Zip Code)

 

Registrant’s telephone number, including area code (704) 341-1516

 

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))

 

 
 

Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.

 

On June 7, 2012, Chelsea Therapeutics International, Ltd. issued a press release announcing voluntary reductions in compensation for senior management team members, all of whom are named executive officers, and directors as part of cost containment initiatives to reduce expenses. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

 

Item 8.01. Other Events.

 

On June 7, 2012, Chelsea Therapeutics International, Ltd. issued a press release announcing voluntary reductions in compensation for senior management team members and directors and other cost containment initiatives to reduce expenses. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

 

Item 9.01. Financial Statements and Exhibits.

 

 (d) Exhibits 
   
 Exhibit No.Description
   
99.1Press release dated June 7, 2012.

 

 

 
 

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.

 

  CHELSEA THERAPEUTICS INTERNATIONAL, LTD.
     
     
     
Date:  June 7, 2012 /s/ J. Nick Riehle
  J. Nick Riehle, Chief Financial Officer