Item 1.01. Entry into a Material Definitive Agreement.
On November 18, 2009, TomoTherapy Incorporated (the "Company") entered into an
Amended and Restated Equity Interest Transfer Agreement (the "Amended
Agreement") with Sichuan Nanguang Vacuum Technology Incorporated Ltd.
("Nanguang") and Yao Chongguo ("Yao") concerning the acquisition of 100% of the
stock of Chengdu Twin-Peak Accelerator Technology Inc. ("Twin Peak"), a company
based in Chengdu, China. The Amended Agreement replaces in its entirety the
Equity Interest Transfer Agreement dated September 11, 2008 among the Company,
Nanguang and Yao (the "Prior Agreement").
The first of three closings as described in the Prior Agreement took place on
October 27, 2008. On October 31, 2008, the Company obtained the business license
showing that it owns 100% of the equity interest of Twin Peak. Under the Prior
Agreement, upon achievement of certain milestones, the most notable of which are
the delivery of a certain number of linear accelerators to TomoTherapy's
specification and a certain number of hours of successful life testing of such
linear accelerators in the field, a second closing and a third closing would
occur, upon which TomoTherapy would make further payments to Nanguang and Yao.
The Amended Agreement amended the Prior Agreement to add an additional closing
before the second closing, for a total of four closings. The new second closing
is anticipated to occur immediately following government approval of the Amended
Agreement. Immediately upon receipt of the second installment, Nanguang agreed
to purchase from the local government certain land adjacent to the manufacturing
facility where test bunkers may in the future be built. In the Amended
Agreement, the amount of the third closing payment is reduced by the amount
payable at the second closing and the deadline for the third closing has been
removed. The amount of the last closing payment remains the same, and the
deadline for it has been extended fifteen months.
The Amended Agreement dated November 18, 2009, as redacted in accordance with a
request for confidential treatment, is attached hereto as Exhibit 2.1 and
incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Number Description
2.1* Amended and Restated Equity Interest Transfer Agreement dated
November 18, 2009
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* Confidential
treatment
has been
requested
for portions
of this
exhibit.
These
portions
have been
omitted from
the Form 8-K
and
submitted
separately
to the
Securities
and Exchange
Commission.