Business Context and Reporting Period
AVITA Medical, Inc. filed a Form 8-K dated July 22, 2022 under Item 8.01 to report a change in a previously disclosed substantial holder. The filing does not report operating or financial results.
AVITA Medical is a Delaware corporation whose common stock trades on Nasdaq under the symbol RCEL.
Key Financial Metrics and Liquidity
The filing provides no revenue, profit, cash flow, margin, debt, liquidity, or other financial-performance metrics.
Material Change Versus Prior Disclosure
- Redmile Group, LLC was previously reported as having a relevant interest in 1,346,217 shares of AVITA Medical common stock, representing 5.40% of voting power.
- As of the reported change, Redmile Group’s current relevant interest was stated as nil, representing nil voting power.
- The company stated that, to the best of its knowledge, Redmile Group ceased to be a substantial holder under Section 671B of the Australian Corporations Act 2001.
Guidance, Outlook, Risks, and Unusual Items
- No financial guidance, operating outlook, or management forecast was provided.
- The company noted that it could not confirm whether the securities previously attributed to Redmile Group were still owned by private investment vehicles or separately managed accounts managed by Redmile Group.
- The substantial-holder information was furnished under Item 8.01 and was not deemed filed for purposes of Section 18 of the Exchange Act, nor incorporated by reference into other filings except where expressly stated.
Investor Verification Items
- Verify the underlying Substantial Holder Notice attached as Exhibit 99.1.
- Confirm the effective date and basis for Redmile Group’s reported change from 5.40% voting power to nil.
- Review subsequent ownership filings to determine whether Redmile Group or affiliated investment vehicles later reported a relevant interest.
- Note that the ownership information was based on the company’s knowledge and included a stated limitation on independent confirmation.