Brief: Cutera Inc - Co And Jabil Entered Into A Settlement Agreement Related To Non-Renewal Of Manufacturing Service Agreement, On Feb 28

Cutera

05/03/2024 21:20

March 5 (Reuters) - Cutera Inc  CUTR.O :
    * CUTERA INC -  ON FEB 28 CO AND JABIL ENTERED INTO A
SETTLEMENT
AGREEMENT RELATED TO NON-RENEWAL OF MANUFACTURING SERVICE
AGREEMENT
    * CUTERA INC - SETTLEMENT AGREEMENT PROVIDES FOR A PAYMENT
BY
COMPANY OF $19.5 MILLION, TO BE OFFSET BY $1.3 MILLION IN
AMOUNTS OWNED BY JABIL
    * CUTERA- ON FEB 28 CO,JAPANESE UNIT, CUTERA KK, ENTERED
INTO
BUSINESS TRANSFER, TERMINATION AGREEMENT WITH ZO & JAPANESE
UNIT, ZO SKIN HEALTH GK
    * CUTERA INC - TERMINATION AGREEMENT TERMINATES ALL
AGREEMENTS
RELATED TO DISTRIBUTION BY COMPANY OF ZO'S PRODUCTS IN JAPAN,
EFFECTIVE IMMEDIATELY
    * CUTERA - TERMINATION AGREEMENT REQUIRES ZO TO PAY CO $5.75
MILLION WITHIN 3 BUSINESS DAYS OF EXECUTION OF TERMINATION, MAKE
SECOND PAYMENT OF $5.75 MILLION

Source text for Eikon:  ID:n0001628280-24-008901 
Further company coverage:  CUTR.O